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Spanish property prices up by 3.8 per cent in the first quarter of 2018

Sharpest rises in Madrid and Palma de Mallorca

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Leading property valuation firm Tinsa have this week published their summary of the developments in real estate prices across Spain during the first quarter of the year, reporting that on average the market value of housing was 3.8 per cent higher than during the equivalent period in 2017.

This continues a bounce-back which has seen prices recover by as much as 7.2 per cent since Tinsa’s national average bottomed out in 2015.

As ever, though, the national average conceals a good deal of variation from region to region and from province to province. The most dynamic regions in terms of market value increases over the last 12 months were Madrid, with a rise of 15.5 per cent, Navarra (12.1 per cent) and the Balearics (10.5 per cent), and in the cities of Madrid and Palma de Mallorca there were increases of 17 per cent and 14.7 per cent respectively.

At the other end of the scale there are minimal decreases reported in Extremadura, Castilla-La Mancha and Galicia, but in most of the remaining Autonomous Communities the increase was close to the national average, and this was the case in the Region of Murcia. In the Costa Calida the average market price per square metre of residential property is reported to have been 932 euros after a year-on-year rise of 3.5 per cent, and within the regional capital the figure rose by 5.1 per cent to 1,060 euros.

Source: Spanish News Today, April 2018

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