March 30, 2016

Spain again exceeds the average European growth in housing prices

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The price of residential property increased again in the whole of the European Union by 3.1% during the last quarter of 2015, compared with 2.3% on average in the countries of the single currency of euro. Spain again exceeded these two indices growing by 4.5% during the past year, according to data published by the European statistics agency, Eurostat.

Rising of prices of real estate market is a general trend not only in Spain, but throughout Europe, with the exception of four countries, Latvia (-7.6%), Croatia (-3.0%), Italy (-2.3%) and France (-1.2%), where prices continue to fall.

The most significant increases, meanwhile, were recorded in Sweden (13.7%), Austria (9.3%), Ireland (8.9%) and Denmark (7.2%), which also includes increasing of prices in major EU economies, such as the United Kingdom of Great Britain and Germany (in both countries the increase was by 5.6%).

Prices of residential property in Spain and Germany, in this case, continue to increase compared with the same quarter of 2014, while the figures for the UK in the last quarter of last year remain positive, but at the same time, represent a decrease of 10% compared with the end of 2014.

Ireland also recorded a moderate growth between July and September by 8.9% compared to 16.8% on an annualized basis, recorded in the first quarter of last year. Furthermore, Italy continued to record negative statistics for 2015, although the fall was softened from 3.6% in the first quarter to 2.3% in the previous quarter, according to the European statistics agency.

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