The house price index (base year 2015) went up by 10%, year-on-year during the second quarter of 2019, compared to the same period in 2018, said the National Institute of Statistics (INS).
The growth of this index had decelerated in 2018, following a slowdown in the rise in house and apartment prices, with a relative stabilization of the rate of increase in land prices.
Apartment prices jumped 13.5% in the second quarter of 2019 compared to the same period of 2018, while house prices rose 11%.
Regarding land prices, the INS pointed to an inflation of 8.2%, while the average price increase for the last 5 years, was 7.3%.
During the second quarter of 2019, the house prix index posted an increase of 5.4%, compared to the first quarter of the same year (+4.1%), due to the rise in the number of houses (+ 10.5%) and apartments (+7.8%).
House prices grew by an average of 8.6% from 2014 to 2018.
The volume of land transactions decline by 10.3% in the second quarter of 2019 compared to the same period of 2018, due to the decrease in land transactions by 11.3%, houses’ by 9% and apartments’ by 6.1%.