The latest Tinsa property report has shown that Spanish property prices received a boost in September after slower appreciation the previous month.
The September Tinsa property report showed a year-on-year increase of 4.2 per cent, which despite being the eighth consecutive rise under 5 per cent, was up from just 2.8 per cent in August, due largely to an increase in the Tinsa property index of 1.8 per cent over the month.
Tinsa property now reports that the index figure of 1,529 points is now 16.7 per cent higher than the bottom of the market in February 2015, and 33 per cent lower than at the height of the Spanish property boom in late 2007 before the global financial crisis.
The Tinsa property report figures also show that Sn’s regional capitals and other large cities market values have risen by over 24 per cent in the last three and a half years, while elsewhere the Balearic and Canary Islands have seen an even larger rise of 28.9 per cent, and the Mediterranean coastal areas are up by 19.4 per cent.
However, the catch-all category of ‘other municipalities has seen growth of just 5.9 per cent according to the Tinsa property report.
The best performer in the September Tinsa property report was certainly the Balearic and Canary Islands region, boosted by overseas property investors, which showed a sharp rise of 9 per cent year-on-year.
Elsewhere the Tinsa property report showed increases were more modest at 4.2 per cent in regional capitals and other large cities, 4 per cent in metropolitan areas, 3.3 per cent on the mediterranean coast, and just 2.4 per cent ‘other municipalities’.
The latest property sales figures (for August) were noticeably down by 20.8 per cent year-on-year, while the latest building licences figure (for July) showed a 1.7 per cent year-on-year decrease, but an increase of 10.4 per cent over the first 7 months of 2019.
The number of mortgages granted (in July) was up by 13.9 per cent year-on-year increase, and a 10.7 per cent increase over the first 7 months of the year.