Spain - House Price Index
Spain: House Price Index
| Mnemonic | HPI.IESP | |
|---|---|---|
| Unit | Index 2025=100, NSA | |
| Adjustments | Not Seasonally Adjusted | |
| Quarterly | 3.53 % | |
| Data | 2026 Q1 | 107.46 |
| 2025 Q4 | 103.8 | |
Series Information
| Source | National Institute of Statistics (INE) |
| Release | Housing price index |
| Frequency | Quarterly |
| Start Date | 3/31/2007 |
| End Date | 3/31/2026 |
Spain: Real Estate
| Reference | Last | Previous | Units | Frequency | |
|---|---|---|---|---|---|
| House Price Index | 2026 Q1 | 107.46 | 103.8 | Index 2025=100, NSA | Quarterly |
| House Price Index for Existing Homes | 2026 Q1 | 107.67 | 104 | Index 2025=100, NSA | Quarterly |
| House Price Index for New Homes | 2026 Q1 | 106.13 | 102.56 | Index 2025=100, NSA | Quarterly |
| House Price Value for Existing Homes | 2026 Q1 | 2,315 | 2,230 | EUR per m², NSA | Quarterly |
| Building Completions | Feb 2026 | 2,545 | 2,624 | #, NSA | Monthly |
| Dwelling Stocks | 2024 | 27,004,765 | 26,902,443 | # | Annual |
| Building Permits | Dec 2022 | 3,178 | 3,247 | #, NSA | Monthly |
| Non-residential Building Permits | Dec 2022 | 608 | 695 | #, NSA | Monthly |
| Residential Building Permits | Dec 2022 | 2,570 | 2,552 | #, NSA | Monthly |
Release Information
For Spain, the housing price index (HPI) primary objective is to measure the merchanting prices of free pirce housing evolution over time for both new and second-hand. Thus, this is an indicator strictly for comparisons over time. The HPI is able to serve as a comparative element between EU members. In order to calculate the HPI, protected housing is excluded due to inaccessibility to all buyers, and it not being governed by the usual market forces. The use of official records makes it possible to have available information for the whole of the population.
Active:
- Measurement: Fixed-base index relative to 2025 (Index 2025=100)
- Adjustment: Not seasonally adjusted (NSA)
- Native frequency: Quarterly
- Start date: Uniformly 2007Q1
- Geo coverage:
- Country
- NUTS 2 area (17 of 19 IESP_^^)
Predecessors:
- 2015=100 - 2007Q1 to 2025Q4
- 2007=100 - 2007Q1 to 2016Q4 ("_07")
Global concept aliases:
- HPI
- HPIN
The General Council of Notaries, of the Notarial Certification Agency, provides the data used to calculate the indices. The INE receives information each month on transfers of real estate assets within Spain approximately six weeks after the end of the data reference period, as well as revisions to previous data. The HPI is a short-term indicator produced using the latest data available to the INE, which represents, on average, over 90% of the total transfers made in the quarter.
Moody's Analytics supplements
For the existing-house index for the country and each NUTS 2 area, we compute seasonally adjusted counterparts.
Data is subject to regular revisions. Annually, the model will be subject to review, incorporating the latest available information into the variables created and adding possible new variables from notaries' databases.
- Oct 2010 - Initial version.
- Aug 2014 - Addendum of SA supplement.
- Jun 2017 - Rebased to 2015.
- 16 Jun 2026, Phillip Thorne - Rebased to 2025: Properties.