Spanish Island House Prices Nearing Pre-Boom Levels, Tinsa Data Reveals
Tinsa data shows house prices on Spanish islands surged in April, approaching 2007/2008 highs. Stay informed on the real estate market trends.
The latest data from the Tinsa IMIE General and Large Markets index for April reveals a 3.2% year-on-year increase in residential property prices. However, this growth is significantly higher in certain regions, with the "Mediterranean Coast" seeing a 6.8% increase and the "Islands" experiencing a staggering 9% rise. When comparing the monthly rates from March to April, the disparity between the national average and coastal regions becomes even more pronounced, with a mere 0.1% increase nationwide but a 1% uptick in the "Mediterranean Coast" and the "Islands". Tinsa notes that the residential market is showing signs of price stabilization, particularly since mid-2022, although areas with high tourist activity may still see exceptions.
In terms of year-on-year growth, the "Capitals and Large Cities" (2.1%), "Metropolitan Areas" (3.1%), and "Inland Towns and Cities" (2%) have experienced modest increases compared to the significant growth in the "Island Territories" and "Mediterranean Coast". Tinsa reports that the overall value of new and used housing in Spain has risen by 39.1% since the lowest point following the real estate crisis. However, prices are still 18.2% lower than they were in December 2007, the peak of the previous expansionary cycle. The markets closest to their 2007/2008 price levels are the islands and "Capitals and Large Cities", while inland markets and the "Mediterranean Coast" continue to show larger price differentials.
The Spanish residential property market is displaying a mixed picture of growth and stabilization, with coastal regions outperforming national averages. While prices have rebounded significantly since the real estate crisis, they have yet to reach pre-crisis levels in many areas.
Spanish Island House Prices Nearing Pre-Boom Levels, Tinsa Data Reveals
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