Laurence Dollimore
SPAIN saw the biggest increase in property prices in the last quarter of 2023 out of any of the big European economies, figures have revealed.
On average, the price of a home in the country grew by 4.3% year-on-year, in stark contrast to France and Germany, where prices fell by 3.6% and 7.1% respectively.
According to figures by Eurostat, the growth in Spain came after prices soared by 4.5% year-on-year in the summer.
Across the EU, property prices rose by just 0.2% in the last three months of 2023.
The largest year-on-year increases were seen in Poland, Bulgaria and Croatia, which saw prices soar by 13%, 10.1% and 9.5% respectively.
Portugal also enjoyed an impressive growth in property prices in the last quarter of 2023, with a year-on-year boost of 7.8%.
The cost of renting in Spain also continued its upwards trend in the last three months of 2023.
On average, rents in the country grew by 2% year-on-year, below the 3% average recorded across the EU.
