Spain home values up by 4.9% in Q3 2018… and 8.4% on the Costa del Sol

Tinsa’s recent third quarter market report showed a good evolution of Spanish real estate market prices.

Real estate valuation experts Tinsa recently published their third quarter report on residential property prices in Spain and the picture it paints of the market – both on a national level and for the region of Andalucía – is one of sustainable and continued year-on-year growth…

The data supplied by Tinsa shows an average 4.9% countrywide increase in property value between the months of July and September this year compared to 2017, meaning that the average value of residential real estate was €1,317 per square metre in the third quarter.

While, compared to the second quarter this year, this nationwide figure evidences a slightly more moderate growth, the market is maintaining its impetus since it started registering quarterly price increases in Q3 2016, exactly two years ago.

Far from localised to one or two high-performing Autonomous Communities, all regions in Spain except one (Cantabria) recorded growth figures during the 90-day period. Madrid and La Rioja led the charge with price surges of 13% and 11.8% respectively, with the Balearic Islands (9.9%), Navarra (8.7%) and Murcia (7.9%) rounding out the top five.

For Andalucía as a whole, the 5.1% house price gain was a shade higher than the aforementioned national figure, and even the gross figure of €1,210 per square metre is below the Spanish average, but it is only when this figure is broken down by province that the real story is laid bare…

…and that is that Málaga is on fire! Not literally (thankfully), but property values in the home province of the Costa del Sol shot up 8.4% interannually over the summer months: almost twice the national increment and, similarly, almost double the rise of any of the other seven Andalucian provinces.