Valuation experts saw 4.3% property price increase in Spain last year

Last year’s average annual property price increase built upon 2016’s data, and suggests further modest increases for 2018.

There has been a raft of positive data examining the Spanish property industry, with 2017’s performance generally considered to be the best 12 months for the industry in a decade…

And now, more analysts have added their weight to this claim, with property valuation experts Sociedad de Tasación (ST) reporting that the average home value increased by 4.3% nationwide last year.

This data tallies pretty closely with other data gleaned from the Spanish notaries and the Institute of National Statistics (INE) and offers further encouragement that the recovery in the sector is built on solid foundations that are creating ideal conditions for steady, sustainable growth.

As with data produced by Tinsa, a real estate evaluation firm, the ST figures also show stark regional differences in price fluctuations, as is to be expected in a country as diverse as Spain.

The sharpest increase in property prices in 2017 when compared to the year prior were recorded in Catalonia – where average home values increased by 8.7% – followed by the Balearics (7.5% increase) and Madrid (6.9% increase).

The Costa del Sol region saw more modest increases of 4.1%, which is actually slightly below the national average but, again, nothing to be too concerned about.

According to the ST data, 2017’s price rise was up on 2016’s, which came in at 2.5% against 2015 and ended eight straight years of price decreases. Hence, the ST analysis would put the bottom of the Spanish property market at around late 2014, which is also in line with other analyst data.