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Spanish property prices rise by 6.3%

For eight quarters in a row, housing prices in Spain have risen, with the average cost of housing in the Eurozone increasing by 3% during the 12 months to the end of 2016’s first quarter.
According to research by European Union (EU) statistics unit Eurostat, housing prices in Spain alone have grown by 6.3%, a figure not seen since 2007.
Research also revealed that as a result of such a constant increase in housing cost, residential property in Spain is now worth 32% less than it was eight and a half years ago.
Eurostat analysts believe that the property growth in Spain shows no sign of stopping, although not particularly as sharply as the latest figures, due to a constant fall in unemployment numbers in Spain.
Elsewhere, year-on-year prices also grew in Hungary and Austria, at 15.2% and 13.4% respectively. House decreases only occurred in Italy and Cyprus, both falling by 1.2%. 


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