Resicom – Holiday Investment – 04-21 – LB

Spain Property Values Rise Continues

Spain property values continued to rise in January according to the latest data published by Spanish property valuation company Tinsa.

The January data showed property values up by 5.1 per cent in major Spanish cities, and up 4.1 per cent in the Balearics and Canary Islands.

Average property values in the country as a whole were up by 3.6 per cent year-on-year, when compared to January 2017.

The latest rise confirms the forecast from Tinsa last month that Spanish property values were expected to continue rising in 2018.

The rate of increase was slightly lower than seen in December, but the news remains positive for the on-going recovery of the Spanish property market.

As forecast, major cities and the Balearic and Canary Islands continue to lead the way, with rises of 5.1 per cent and 4.1 per cent respectively. However, other areas are also showing a rise in property values.

Metropolitan areas saw values rise by 3.2 per cent, while the Mediterranean coast saw a 3 per cent rise. The catch-all category of ‘other municipalities’ also saw a rise of 1.6 per cent.

The latest monthly data available for November also showed sales up by 20 per cent year-on-year, and by 15.5 per cent over the first eleven months of 2017.

Building licence applications were also up by 11.1 per cent in November, and by a huge 26.3 per cent over the first eleven months of last year, indicating the increasing confidence of builders and developers in the Spanish market.

The report did also confirm however, that despite continuous rises property values in Spain as a whole remain 38.3 per cent below the peak seen in late 2007, meaning that there are still many bargains to be had for overseas property investors.

In further positive news, unemployment in Spain fell by 7.54 per cent in January, proving that the Spanish economy is very much back on track, which will help to underpin property values and the overall recovery.

Demand certainly seems to be growing for Spanish property, and therefore upward pressure on Spain property values is expected to increase.

Be the first to comment on "Spain Property Values Rise Continues"

Leave a comment

Your email address will not be published.