The advance of the sale of homes in January was not enough to recover the declines of previous months, despite the positive tone of the determinants of demand. The INE Price Index showed a slight moderation of growth in 4Q18. In addition, permits fell in December in a context of greater uncertainty in the sector.
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Residential demand continued to be supported by a good performance of the fundamentals, with mortgage financing and employment as particularly important drivers. Housing starts fell briefly in an environment of price stabilisation. Thus in 3Q15 prices rose, above all on the coast and in large metropolitan areas.