Tinsa, one of Spain’s major property price appraisal companies, which regularly updates information about property market trends has recently released a House Price Index showing how things are going in 2018.
Please be aware when reading data from Tinsa, or any of the other institutions releasing market data, that the figures are only a general guide to quite wide areas and may not reflect exactly what is happening within a smaller area, such as a specific town, or prices in a city centre versus those on its outskirts.
Spanish House Prices
If we look at the data for all of Spain, prices are up by 3.6%. However, the major cities, primarily Madrid and Barcelona, the rise in prices is 6.8%, almost double that of the national average.
The Mediterranean coast, which covers the various Costas, from del Sol, Blanca and Brava to the smaller ones such as the Costa Tropical and Costa de la Luz (although that has an Atlantic coastline) is showing a rise of only 0.4%. These are areas of particular interest to overseas buyers, as they are typically the areas chosen for holiday homes.
And, if we look at the chart since April 2017, when the Costas experienced a price rise of 1.3% we can see that there has been some considerable fluctuations over the last year. For example, in August 2017 it was -0.8% but then in December 2017 it went up to 5.7%. Even in February 2018 it stood at 4.4%, before falling to 0.4% in March 2018.
For those buyers interested in Mallorca, Ibiza and Menorca, or the Canaries, house prices feel to -2.3% in March 2018 from 4.0% in April 2017.
Idealista, which publishes details of asking prices, reports that its recorded asking price index stands at +7.5% and that it has risen by 7% in each of the preceding three months.
Overall, the Spanish market is pretty positive overall, which is good news for real estate agents, property developers and the construction trade. It’s also good news for property owners, and pretty good for buyers as well, because the growth in house prices is not excessive.
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