LB – BND – April

Tinsa Report Shows Spanish Property Values Up

Tinsa report

The latest Tinsa report has shown Spanish property prices up in the month of April.

According to the latest figures from the valuation company, the average value of property in Spain has risen by 5.4 per cent year-on-year when compared to April 2017.

The figure represents the most positive April year-on-year rise for eleven years and shows an acceleration of property price increases from the 3.9 per cent year-on-year rise recorded in the first quarter of the year.

However, the latest Tinsa report also shows a greater disparity between areas of the country than is normally seen.

The star performers were the provincial capitals and major cities, which registered a strong average rise of 8.7 per cent year-on-year.

In comparison, the Mediterranean coastal areas so often targeted by overseas property investors looking for holiday homes fared far worse, showing a rise of just 0.3 per cent when compared to April 2017.

In-between, metropolitan areas enjoyed growth of 5.7 per cent, whilst the Balearic and Canary islands were not far behind with price growth of 5.6 per cent in the same period.

Prices nationally are deemed to have risen by 10.3 per cent since the Spanish property market bottomed out but are still seen to be 36.7 per cent below the peak level seen in late 2007 before the global financial crisis, leaving plenty of room for overseas property investors to enjoy future growth on investment.

Property sales figures for February (The latest data available) show a 16.5 per cent year-on-year rise, contributing to a 19.8 per cent rise over the first two months of 2018.

Construction is also increasing showing a new-found confidence. Building licences rose by 26.9 per cent in February, making a 17.4 per cent year-on-year rise over the first two months of the year.

This increase in the number of building licences being granted for residential properties is particularly encouraging, as it shows that developers are recognising a shortage of suitable properties and therefore expect prices to continue rising.

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