Spanish house prices rose considerably faster than EU and Eurozone averages during the third quarter (Q3) of 2018, latest figures from the EU’s statistics bureau Eurostat show.
During Q3, average property prices in the EU rose by 1.6% and by 1.5% in the Eurozone, compared with a 2.2% rise in Spanish house prices. Quarter-on-quarter, the most significant house price increases were in the Netherlands (3.3%) and Croatia (2.8%) while prices dropped in Italy (-0.8%) and Romania (-0.7%).
In the last 12 months, EU and Eurozone house prices increased by 4.3%, while Spain saw a rise of 7.2%. However, the highest annual house price increases occurred in Slovenia (15.1%) and the Netherlands (10.2%). whereas Sweden and Italy saw prices drop by -2.1% and -0.8% respectively.
The on-going recovery in Spanish property prices continued across the country in December, according to leading property valuation firm Tinsa. Prices rose by 10.6% in the Canary and Balearic Islands, while property prices in regional capitals and other larger cities rose by 8.7% followed by a 6.7% increase in Mediterranean coastal areas. Despite property experts believing that the market will start to slow down, the figures do not reinforce this. If anything the market will continue to grow, especially in areas that have previously shown little signs of any upward movements.<< Residential Property Sales Up 2.8%