Prices of new dwellings increased by 15.0 %, but of existing dwellings by a more modest 3.2 %.
Compared to the 1st quarter of 2023, in the 2nd quarter of 2023 prices of dwellings went up by 5.1 %. Prices of new dwellings increased by 7.7 %, and prices of existing dwellings by 4.3 %.
Compared to 2015, in the 2nd quarter of 2023 prices of dwellings have almost doubled in value, being 95.9 % higher than they were eight years ago. Prices of new dwellings increased by 91.5 %, but of existing dwellings – by 97.2 %.
The house price index (HPI) is a quarterly indicator that measures the changes in the dwellings transaction prices that households acquire on the market. The house price index is a quality-adjusted index, i.e. it reflects pure price changes, excluding structural and qualitative differences in dwellings composition between periods.