Spanish property prices continue to rise
Property prices in Spain have increased by five per cent in the last year, according to new figures.
Research by Knight Frank showed that while growth in values slowed down in most European countries, Spain still saw a strong increase in property prices.
Meanwhile, the last 12 months saw a 0.9 per cent increase in Irish property values, while the rate of growth also slowed in France, Switzerland, Denmark and the Netherlands.
On a global scale, the annual rate of inflation fell from 9.6 per cent to 7.8 per cent.
This was attributed to numerous factors, such as rising interest rates and a correction following high rates of growth in several emerging markets.
Knight Frank said the previous rate of growth in some eastern European countries had been "unsustainable", hence the recent slowdown in price inflation.
According to Halifax, average house prices across the eurozone have risen by 40 per cent in the last five years.
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