The average value of the finished housing (new and used) increased by 3.6% in January compared to the same month of 2017, as shown by the Tinsa IMIE General Index and Large Markets. The “Capitals and large cities” and “Balearic and Canary Islands” stand out in January with the largest increases in prices in the last twelve months, with growths of 5.1% and 4.1%, respectively. All the groups analyzed in the index show values higher than those of a year ago.
“The residential market maintains moderate price growth, with greater intensity in the islands and large cities. Despite the fact that the average price in Spain has recovered 7.6% of its value since the minimum it touched in the crisis , it is still 38.3% below the maximum reached in 2007, “says Jorge Ripoll, director of the Tinsa Studies Service. The 1,410 points registered in January in the General Index place the price of housing finished at June 2013 levels.
The IMIE General and Large Markets index, which is calculated from the appraisals of finished housing (new and used) made by Tinsa, collects each month the year-on-year change in the value of a property’s m² and its level with respect to 2001 (base 1,000) in five representative areas of the different strata that make up the housing market: “Capitals and large cities”; “Metropolitan areas”; “Mediterranean coast”, “Balearic and Canary Islands”, and “Other municipalities”. The absolute numbers shown in the table (points) correspond to the value of the index, do not represent in any case the price per square meter of the houses.
After the year-on-year growth of 5.1% experienced by the “Capitals and large cities” and 4.1% in the “Balearic and Canary Islands”, the largest price increases in the last year are located in the “Metropolitan Areas” (+ 3.2%) and in the “Mediterranean Coast” (+ 3%). The average value in the smallest localities, grouped in “Other municipalities”, shows an interannual growth of nine tenths in January.
| January 2017 Index | January 2018 Index | Interanual variation | Variation from maximums | Accumulated variation in 2018 | Accumulated variation in 2018 | |
|---|---|---|---|---|---|---|
| general | 1,361 pts. | 1.410 points | 3.6% | -38.3% | 0.6% | 1.5% |
| Capitals and large cities | 1,396 pts | 1.466 pts. | 5.1% | -39.7% | 0.2% | 2.5% |
| Metropolitan areas | 1,248 pts. | 1,288 pts. | 3.2% | -43.3% | -1.1% | -0.7% |
| Mediterranean coast | 1.332 pts. | 1.372 points | 3.0% | -47.0% | -2.2% | 0.3% |
| Balearic and Canary Islands | 1,383 pts. | 1,440 pts. | 4.1% | -24.1% | 5.4% | 5.1% |
| Other municipalities | 1.370 pts. | 1,383 pts. | 0.9% | -36.2% | 1.6% | 0.2% |
Spain ranks #12 in per square metre property prices, according to Global property guide
According to INE Spanish statistics office Q3 statistics
- New housing prices increased by 1.6% between the second and third quarter of 2017. In turn, second-hand housing prices rose by 1.9%
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The annual variation rate of new housing stood at 6.5%, more than two points higher than that registered in the previous quarter. The annual variation of second-hand housing prices increases by almost one point, up to 6.7%.
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