Spanish property prices show annual rise of 1.6%
Currencies Direct December 6th 2016 - < 1 minute read
The Spanish Ministry of Development (MoD) has revealed that property prices rose by 1.6% from the previous year in the third quarter.
According to the MoD, the highest year-on-year increases were in Madrid, Catalonia and the Balearic Islands.
Prices rose to €1,499.70 (£1,267.68) per square metre from the same period in 2015. This is despite a decline in house prices of 0.4% in quarter three.
Barcelona saw a year-on-year rise of 6.6% – the highest recorded. Prices rose by more than 4% in Madrid and the Balearics. Analysts have said this reflects that Spain is experiencing an upswing in house prices.
However, this is not being seen across the whole country.
There has been a decline of 5.1% in La Rioja and falls of more than 1.5% in the Basque Country, Cantabria and Aragon.
Despite these falls, the last six quarters have shown year-on-year increases in Spanish property prices.
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Currencies Direct