(a) Annual evolution of housing prices
- House price in Spain since 1985, in euros per square meter: nominal price, real price (inflation-adjusted, CPI Base 100 = 1985), and accumulated inflation.
Interpretation and observations
The prices are constantly rising due to inflation, a consequence of the current monetary policy. The uptrend is however cyclical, with major expansions and minor regressions.
- For an overview of housing prices in various currencies, please see this entry.
- For details about the methodology for real price, please see this notes.
(b) Quarterly evolution of housing prices
- Left axis (line): house price in euros per square meter, according to Idealista and to the notaries.
- Right axis (area): percentage of difference (in absolute value) between the two compared price sources.
Interpretation and observations
Both trends are similar, however, the price according to the notaries is always below the Idealista price. This discrepancy could be explained by the fact that the Idealista price shows the price proposed by the seller, while the notary price shows the price paid by the buyer.
The "Spread" and the "Sharp change" are intended to serve as signals to capture trend changes.
Differential or Spread: the grey bars (right axis) simply show the difference between the two prices in %. The two lines should not be too far apart, as they represent the same information.
Sharp change: the green line shows the variation of the notarial price compared to the Idealista trend. The line can move away from the Idealista price both upwards and downwards. For example, in 2010-2012 there are a couple of visible moments when it moves clearly downwards, suggesting that the downward pressure is strong.
Data sources
- Housing prices, from 1985 to 2006, according to Sociedad de Tasación (Access to data is under request, but can be seen in the linked publication): Publication, Link
- Housing prices, from 2007 onwards, according to the notaries (Grupo 5 > Acto 501 - Compraventa inmuebles > Inmuebles en fincas urbanas, viviendas): Link
- Inflation data (Table: average inflation Spain (CPI) - by year): Link
- Housing prices according to Idealista: Link