The Value of a Large Property in Spain Has Increased

Multiple Choice

The value of a large property in Spain has increased from €765,000 to €820,000 during the last year. At the same time, property prices in the region have increased 8.5% on average. Which of the following statements is TRUE?

A) The relative value of the property has decreased
B) The relative value of the property has increased
C) The relative value of the property has stayed the same
D) You cannot calculate the relative value of the property