Recovery continues for Spain’s property market

The recovery of Spain’s property market is continuing to consolidate according to new house price figures.

The latest data released by leading valuation firm Tinsa shows that property prices across Spain grew by 2 per cent in the year to April 2017, marking the seventh successive month that prices have increased nationally.

The figures for the first four months of this year are particularly encouraging. Since 1st January, the national average property price in Spain has increased by 2.3 per cent, with the largest price rises in this period seen in the Mediterranean coastal areas (5.1 per cent). Prices in regional capitals and major cities have also risen by 4.3 per cent this year, while house values in the Balearic and Canary Islands are up 4.1 per cent.

Metropolitan areas, however, have not fared quite so well in this four-month period, with prices falling by 2.1 per cent.

Even more encouraging news for Spain’s property market, however, comes in the shape of the latest house sale figures. The number of completed transactions in the year to April 2017 rose by 29.6 per cent, although in the first four months of this year the growth was slightly slower (15 per cent).

Mortgage approvals are also 12.7 per cent higher than they were a year ago.

Article published 16th May 2017