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.
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