Tinsa report a continued recovery for the Spanish property market in 2017

A recent Tinsa report shows continuing Spanish property price recovery, an upward trend that has been slow but steady over the last 12 months.

Published on Tuesday by the leading real estate valuation firm, Tinsa illustrated that in January 2017, the average market price per square metre of residential property was 0.9% higher than twelve months previously, having reached 1,361 euros.

The figure marks the eleventh time in the last 12 months that the national figure has shown a year-on-year rise. The latest monthly data (for November) also show a 17.7% year-on-year increase in sales figures and a 14.5% rise in the first eleven months of the year.

Building license also show a 25.1% year-on-year increase and a 32.5% rise in the first four months of the year. Similarly, continuing on an upward trend is the number of mortgages granted in November, which showed a 32% year-on-year increase and a 15.4% rise in the first eleven months of the year. According to Euribor, the interest rate on which most mortgage repayments in Spain are calculated is currently at -0.095%.

Overall, the report provides further indication that the gradual recovery of the Spanish property market will continue in early 2017 and that there are certainly grounds for optimism among both market professionals and investors.