real estate

INS: House price index up 6% (Q3, 2020)

December 7, 2020

(TAP) - During the third quarter of 2020, the real estate price index recorded a 6% increase compared to the same period of the previous year, according to the Real Estate Price Index published on Friday by the National Institute of Statistics (INS).

Flat prices recorded a 3.7 % leap in the third quarter of 2020 compared to the same period last year (9.5 % the average recorded over the last five years (2015-2019), according to the same source.

Similarly, housing prices increased by 8.3% (with an average increase of 5.4% for the period 2015-2019) and residential land prices increased by 6.2% (with an average increase of 6.1% for the period 2015-2019).

Property prices rose by 1% in the third quarter of 2020, compared with a 0.6% fall in the second quarter of 2020.

This jump is due, on the one hand, to the 2.4% rise in residential land and housing prices (+3.6%) and, on the other hand, to the 3% drop in flat prices during the third quarter of 2020 compared with the second quarter of the current year.

The third quarter of 2020 was also marked by a 1.8% increase in the volume of property transactions compared to the same period in 2019, compared to a 49.2% fall in the second quarter of 2020.

The volume of transactions saw an increase of 3.4% in residential property, compared with a 5.2% drop in demand for flats.

tap.info

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