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Spanish property values rise in February

Spanish property values rise in February

March 14, 2018
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Spanish property values witnessed annual growth of 4.5% in February 2018 according to the leading property valuation firm Tinsa.

 

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The latest figures released by Tinsa reveal a 4.5% increase in average Spanish property values in February compared to the same month last year as the on-going market recovery continues to gather momentum.

As expected the areas to record the most significant rises were the Canary and Balearic islands and Mediterranean coastline with growth of 5.9 and 4.4% respectively, however all the more encouragingly, the upward trend extended to all four corners of Spain.

These figures place average home values at their highest level since February 2013, yet they remain 37.3% below the pre-crash peak of 2007, leaving plenty of room for further growth.

The report also features a monthly “market snapshot” highlighting influencing factors in the Spanish property market including;

Sales figures which show year on year gains of 9.2% for December 2017 and 14.6% growth for the whole of last year.

Building licenses which show 24.5% year on year gains for December and 26.2% growth for the entire year.

The number of mortgages granted decreased 0.3% in December yet still recorded 10.2% growth for the entire 2017.

Falling unemployment which recorded a year on year decrease of 7.48% in February to 3.47 million.

The Euribor, upon which Spanish mortgage interest rates are calculated, which in February was close to its lowest ever rate at -0.191%

All of which suggests a healthy demand is likely to continue for the foreseeable future therefore pushing further growth in home values and, in turn, making Spanish property a very attractive investment option.