House prices up again in October by 5.3%

Real estate valuations firm Tinsa has just published today its monthly IMIE report, which tracks the evolution of house prices and shows their year-on-year variation and net recovery since reaching their highest ever levels before the economic downturn (which seems a very distant memory now)…

In terms of the first of these statistics, the overall value increase for residential property in Spain in October compared to the same month in 2017 was a shade over 5%.

As always, this percentage is broken down into five area categories – provincial capitals and large cities, metropolitan areas, the Mediterranean coast, the Balearic and Canary Islands, and all other municipalities – all of which posted price gains in October.

The most significant of these areas were provincial capitals and large cities, whose interannual jump was 8.5%, while the Mediterranean coast – an area which includes the Costa del Sol – registered a 6% growth compared to last year.

In October, as in recent months, the latter increase is correlative with the national average, evidencing its sustainability and, amongst other things, the reliability of Costa del Sol house prices as a representation of the Spanish market at large.

Furthermore, in average terms, Spanish home values are 13.1% higher than their lowest ever recorded figures, but still remain 35.1% adrift of their maximum levels just over 10 years ago.