Spanish property values appreciated 4.8% in September

Spanish homes values were on the rise again in September, both on the coast and inland.

Spanish residential property values increased once again in September, this time by almost 5% compared to the same month in 2017, according to real estate valuation experts Tinsa…

This follows Tinsa’s recently-published Q3 2018 House Price & Market Report, which gave almost identical statistics for gains experienced over the entire third quarter of this year.

The biggest contributors to last month’s figure, as is often the case, were provincial capitals and large cities, whose property value rose an average of 7.3%.

On the Mediterranean coast, value surges were very much in line with the national average, increasing 4.7% interannually in September. The home of the Costa del Sol has, in the last two months, experienced potent year-on-year increments, with this – quite incredibly – being the best-performing September since 2006.

The overall outlook for Spanish home values is that they now stand 12.1% higher than in February 2015; the month which signalled the start of a gradual recovery which has now flourished into consistent year-on-year and quarter-on-quarter pricing advances.

Additionally, as a snapshot of current prices versus all-time highs, September’s figures are 35.7% lower than they were in the peak of the housing boom in 2007.

In other news, Tinsa’s “Market Flash” points out that there were 2.87% more Social Security registrations in September and that unemployment decreased by 6.09%.

Meanwhile, the Spanish Consumer Price Index (IPC) went up 2.2%, meaning that the cost of living has marginally increased against the cost of consumer goods and that Spaniards – and expats living full-time in Spain, too – have greater purchasing power.