New market value data points to 4.3% price rise for Spanish property in October

Spanish home values are approximately 4% higher at the moment compared to the same period last year.

New data by Spanish property valuation firm Tinsa has revealed that the average price of a property in Spain was 4.3% higher in October this year compared to the same month in 2016.

These stats are for the entire country, and as ever there are regional variations that are noteworthy, not least the 6.4% increase seen in provincial capitals and large cities such as Madrid, Barcelona and Málaga…

Interestingly, properties located close to the Mediterranean coast are only 0.9% higher in market value this October compared to last. However, this is a rather blunt measurement by Tinsa, because as anybody who lives on the Costa del Sol will know – not all Mediterranean regions and resorts are created equal.

Properties on the Costa del Sol tend to increase in value more steadily than elsewhere – fewer peaks, but also fewer troughs, making the Tinsa categorisation of all Mediterranean regions as one rather misleading.

That being said, the same category has enjoyed a 4.3% increase in home values over the first ten months of this year compared with the same period last year. This gives a more accurate snapshot of how the markets of these regions are performing.

Tinsa’s market value data was published alongside a snapshot of other property market indicators. Additional statistics published also show that mortgage approvals are 13.2% higher up to August this year when compared to the same period last year; a 7.91% reduction in unemployment to date for 2017, and an encouraging 14.3% increase in property sales for 2017 up to the end of August when compared to the same period in 2016.