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Homes values in Spain rise 4.5% in February, says data

Author:   |  March 8th, 2018

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The Tinsa data shows how right across Spain increased prices are reassuringly steady.

The Tinsa data shows how right across Spain increased prices are reassuringly steady.

The average price of a home in Spain was 4.5% higher in February this year than it was over the same month in 2017, figures from property valuation firm Tinsa have revealed.

This data is a continuation of the ongoing recovery in values that has shaped most of Spain’s property market since 2015. In 2018, a decade since the crash of 2008, both January and February have delivered encouraging figures in terms of sales volume and price growth…

Experts and analysts are particularly encouraged by the past 12 months of growth for two reasons: the first being that month-by-month rises in values and transactions are consistent and stable, with no sign of the market overheating or running out of steam.

Secondly, all four corners of Spain are getting in on the act to some degree. Of course, the farthest reaches of Extremadura are less vibrant than the Costa del Sol, but even in Spain’s lesser-explored regions home sales are rising, along with prices.

This is good news for one simple reason: it shows that the country’s economy is heading firmly and confidently in the right direction. Areas dominated by Spanish buyers, such as those inland regions far away from tourist hotspots and the coast, are enjoying good growth, while in the popular areas of the Mediterranean coastline, the Balearics and the Canaries, even the highest increase in values remains, on average, below 10%.

Currently, home values are at their highest since February 2013, and remain around 37% below their peak value recorded in 2007 before the crash. This means that there is still some price correction to come, making investment in Spanish property an attractive proposition for many years yet.

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