Spanish Valuation Firm Tinsa Confirms Recovery

Spanish valuation firm Tinsa has confirmed that the Spanish property market recovery is continuing after releasing their latest data for December.

The December figures from the Spanish valuation company show a nationwide increase in Spanish property prices of 6.5 per cent.

The year-on-year increase in Spanish valuations was slightly higher than the previous month of November, and the Spanish valuation company reported that their index is now 14 per cent higher than when the market reached bottom in February 2015, although still 34.6 per cent below the peak level in late 2007.

The Spanish valuation figures also show that regional capitals and large cities have recovered quickest at 22 per cent, followed by the Balearic and Canary Islands at 21.6 per cent, and Mediterranean coastal areas at 18.1 per cent.

The catch-all category of ‘other municipalities’ was notably the worst performer with a recovery of just 4.9 per cent since the market bottomed out.

For the Spanish valuation figure in December, the top performer was the islands with a year-on-year rise of 10.6 per cent, followed by regional capitals and large cities at 8.7 per cent.

Mediterranean coastal areas rose by 6.7 per cent, metropolitan areas by 3.6 per cent, and a rise of 2.9 per cent in ‘other municipalities’.

Tinsa placed their latest monthly sales figures for November at a year-on-year increase of 3.9 per cent, a higher figure than the 2.8 per cent reported from the government’s central statistics unit.

The latest October data for building licences showed a 16.1 per cent year-on-year increase, and a 23.2 per cent increase in the first ten month of 2018.

Similarly, October data for mortgages showed a 22.9 per cent year-on-year increase and an 11.7 per cent increase in the first ten months of the year.

The recovery in the Spanish property market seems to remain strong according to the Spanish valuation firm, and the fact that in recent months the category of ‘other municipalities’ has at last begun to show upward movement implies that the recovery is spreading throughout Spain.