The latest figures from the Spanish Ministry of Housing reveal that average property prices in Spain rose by 1.6% in Q3, taking the average price of property up to €1,781.50 per square meter, up 13.4% during the same period in 2004.

Average property prices have now risen for 27 consecutive quarters, however the 1.6% quarterly increase (during Q3) was the lowest quarterly increase in almost three years, suggesting that the Spanish property market is cooling.