In the latest batch of monthly property data by leading Spanish valuation firm Tinsa, figures reveal incremental nation-wide priceincreases and continued stability.
Property prices across Spain increased by 3.6 per cent overthe last year, the fourth consecutive rise. Remaining steady in March, pricesfell slightly in April and saw an incremental rise of 0.5 per cent in May.
Spanish property prices have now risen by 14.4 per centsince the market bottomed out in 2015 - and are still 34.4 per cent lower thanthey were during the height of the boom years in late 2007. Analysts point to amuch healthier and sustainable rate of growth nationwide, with a sharpdifference in prices from region to region. Spain’s regional capitals and otherlarge cities have seen prices rise by almost 23 per cent since 2015, withincreases of 22 per cent in the Balearic and Canary Islands, and 17.9 per centalong the Mediterranean coastal areas.
Focusing specifically on the Spanish property market in themonth of May, Tinsa reported a 7.8 per cent year-on-year increase in salesfigures nationwide. New building licenses rose by 11.2 per cent over the last12 months, with an 18.9 per cent increase in the first three months of 2019.Mortgages granted across Spain also saw a 16.6 per cent year-on-year increase,and a 17.3 per cent increase during the first quarter of the year. Euribor, theinterest rate on which most Spanish mortgages are calculated is currentlyaveraging at -0.135%, having fallen from -0.112 per cent.
The monthly roundup signals the continued health of theSpanish property market, reflecting a stability that was largely absent duringpre-boom years and a continued demand for appropriately priced , and along prime Spanish coastal areas.