The following residential property price indices were released in May 2017 (all figures show year-on-year percentage change):
- The Spanish Land Registrars’ Association +9.39% in the first quarter of the year, based on their ‘repeat sale’ methodology that only takes into account properties that have been sold at least once before.
- The Spanish Government (Fomento) index based on official valuations +2.7% in the first quarter
- The Association of Spanish Notaries index +0.4% in March
- The Tinsa index based on valuations by the company +5.4% in April
These national indices don’t tell us anything about local markets, but they do give us some idea of where we are in the property market cycle, which clearly shows that Spanish house prices are back in positive territory, whichever index you choose.
The Registrars point out that prices have risen 26% since they bottomed out at the end of 2014, but are still down 18% compared to the peak in 2007.
Tinsa Spanish House Price Index
The Spanish house price index published by Tinsa – one of Spain’s biggest appraisal companies – also shows house price changes by area, with the big cities (mainly Barcelona and Madrid) up 8.7% in April, the Mediterranean coast up 0.3%, and the Balearic and Canary Islands up 5.6%.
