Spanish property prices increased 3.8% in March compared to the same month in 2017 according to the latest quarterly figures released by the leading Spanish real estate valuations firm Tinsa.
The positive start to 2018 marks a continuation of three years of quarterly growth dating back to the end of 2014 when the Spanish market bottomed out.
On average, Spanish home values have grown 5.2% per year over the last three years, yet prices nationally still remain 33% below those witnessed at the peak of the last property boom in 2007. Unlike the previous boom however, this time round the prices rises demonstrate a steady and sustainable momentum of growth that is reassuring banks and homebuyers alike.
Regionally there is still a wide disparity in values with property prices in Madrid increasing 15.5% year on year and the Balearic islands up 10.5%, whereas, for the first time in three years, Extremadura and Galicia each recorded minor decreases. Málaga province, home of the Costa del Sol, remained steady recording 4% home price growth compared to the corresponding period last year.