Despite the galloping price rise, nearly 43,000 homes were sold between April and June, a 15% increase year-over-year.

Both existing and new home prices saw record growth between April and June, rising 18.3% and 14.5%, respectively, according to data released by the National Statistics Institute (INE).

This price acceleration is not unrelated to measures to support young people in homeownership, such as public guarantees on housing loans and exemptions from IMT (real estate transfer tax). This comes at a time when the European Central Bank (ECB) is easing interest rates, facilitating access to bank credit.