Spanish property price growth is slowing down, with some regions now recording price falls, new figures show.
The latest data released by Spanish property valuation firm Tinsa shows that the national average property price increased by 1.6 per cent year-on-year in January.
Although this marked the thirteenth consecutive month that prices have recorded an increase, it was the lowest rise seen for more than a year.
More concerning is the fact that prices on the popular Mediterranean coastal areas decreased by 0.3 per cent. The second consecutive month that decreases have been recorded there.
Prices in the category marked ‘capitals and large cities’ were up by 4.8 per cent in the 12 months to January 2020, although the Canaries and Balearics recorded price falls of -2.5 per cent.
However, the Spanish property market is in a far healthier state now than what it was just three years ago.
Since the start of 2017, property prices have risen by more than 28 per cent in capitals and other large cities, by 19 per cent in the Canary and Balearic Islands, by the same amount in Mediterranean coastal area and by 12 per cent in metropolitan areas. For those areas not covered by one of these categories, property values have risen by 6 per cent.
Article published 12th February 2020