The decline in house prices continued to rise by 1.8 percent between mid-January and mid-February 2022, so that in the last 12 months house prices have jumped by 15.2 percent
Apartment prices continue to rise – however, the beginning of the process of raising interest rates, increasing the tax rate and price increases we have already seen are expected to moderate demand later this year
The housing price index continued to rise by 1.8 percent (between mid-January and mid-February 2022), so that in the last 12 months housing prices have jumped by 15.2 percent. The rise in the construction input index, which is affected by the jump in commodity prices following the war in Eastern Europe, also contributed to this, with an increase of 1 percent in March and 6.6 percent in the last 12 months.
However, in our estimation, the beginning of the process of raising interest rates, increasing the tax rate, along with the sharp rise in bond yields that translates into rising mortgage rates and price increases that we have already seen are expected to moderate demand later this year.