Spanish home prices rose the most in at least eight years in the third-quarter, strengthening the foundations of the country’s economic recovery.
Values climbed 4.5 percent in the period from a year earlier, according to data released by Spain’s National Statistics Institute on Thursday. That was the fastest clip since the institute, known as INE, started publishing real estate data in 2007. There was a 0.7 percent increase from the previous quarter.
Spain has become one of the fastest-growing economies in the euro area as exports surge and investment rebounds. The country is on course to post the strongest growth since 2007 this year.
Tinsa, Spain’s largest homes appraiser, said on Dec. 4 that home prices rose 1.9 percent in November, setting the decline since values peaked before the financial crisis at 41 percent.