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Spanish house prices rise in second quarter of 2016.

Spanish house prices rise in second quarter of 2016.

House prices rose by an average of 2% in the second quarter of 2016 meaning the average price of property rose to €1,506 per square metre.
An increase of over 2.4% in the first quarter of the year means property prices have risen by almost 5% in the first half of 2016 according to statistics from the Spanish Ministry of Development.
It also noted property over 5 years old had risen by 2.2% which took the value per square metre to €1,500 just under the value of newer property. The actual value of new built property was €1,748 per square meter which represented a 0.8% growth in the second quarter.
The majority of banking and financial experts forecasted property growth at 5% for the whole of 2016 so property growth has exceeded expectations. 

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