 |
| Spain property prices continues to grow in value |
The latest data from Spanish property valuation firm Tinsa
has shown that the average Spanish property price in Spain increased 4.3% in
October of 2017 compared to 2016.
The statistics are for the entire country, meaning there are
some regional variations to take note of, particularly the increase of 6.4% in
provincial capitals and large cities like Barcelona, Madrid, and Malaga.
An interesting thing to note is that properties close to the
Mediterranean coast have only increased 0.9% in market value for October over
last year. This is somewhat of a blunt measurement by Tinsa however as anyone
who lives on the Costa del Sol can tell you that not every Mediterranean region
and resort is created equal.
Costa del Sol properties tend to increase at a steadier pace
than in other areas. There are less peaks, but there are also less troughs,
meaning that Tinsa putting all Mediterranean regions into a single category is
somewhat misleading.
With this said, this category has also seen a 4.3% increase
in home values over the first ten years of the year over the same period of
time last year. That gives a better picture of how the markets in the
Mediterranean are doing.
The market value data from Tinsa was published with a
snapshot of different market indicators. Other statistics show that mortgage
approvals improved 13.2% leading to August over the same period last year; a
7.91% reduction in employment to date in 2017; and the rather encouraging
statistic that property sales have increased 14.3% in 2017 up to August
compared to the same period of 2016.
