Spanish property continues to enjoy year-on-year price increases, with growth in May slightly more moderate than in April.

Tinsa’s General IMIE Index, which measures the average year-on-year Spanish residential property prices against 2001 figures, saw a growth of 4.2% in May 2018 compared to the same month last year

While this is a more moderate growth than last month’s interannual increase, the property valuation firm Tinsa confirms a “reactivation” of the Mediterranean coast in the fifth month of 2018. Year-on-year growth in May was 3.0% compared to 0.3% in April.

Elsewhere in Spain, large cities and provincial capitals continue to buoy up the positive figures, with these areas seeing the most consistent residential price rises of anywhere in the past three months. In fact, nowhere has experienced more significant year-on-year increases in the last 12 months except the Balearic and Canary Islands in November 2017 and February 2018.

The report also highlights what these recent property price increases mean in the bigger picture. On average, homes across Spain are now 10% more valuable than they were in February 2015, although they are still 36.7% lower than the all-time high valuations registered in 2007.