Spain average property price increase

The average property price in Spain was 2.3 per cent higher in June 2017 than it was in June 2016, new figures show.

The latest property price index, released by leading Spanish property valuation firm Tinsa, shows that year-on-year price increases have been recorded in each of the last ten months.

Regionally, over the last year prices rose by 4.6 per cent in regional capitals and other large cities; by 4.2 per cent in metropolitan areas; by 1.9 per cent in the Mediterranean resorts; and by 1.5 per cent in the Balearic and Canary Islands. It was only in towns not classified under one of the aforementioned headings that the average property price decreased, with values declining by 2.6 per cent.

When the data is assessed for the first half of 2017 only, then the average property price rises are even more substantial. In the first six months of 2017 alone, average property prices in regional capitals and large cities rose by 5.2 per cent; by 2.2 per cent in metropolitan areas; by 2.4 per cent along the Mediterranean coast; and by a substantial 7.2 per cent in the islands.

Not only are property prices throughout most of Spain rising, but separate data shows that the number of house sales is on the increase as well.

The latest monthly data shows that as of May 2017, the number of completed property transactions across Spain was up by 23 per cent from a year ago. Sales figures increased 11.3 per cent in the first three months of 2017.

Article published 21st July 2017