The average value of properties in Spain rose by 0.1% in April, which corresponds to a year-on-year change of 3.2% over the last 12 months and confirms the stabilisation trend in the property market.
Tourist areas such as the ‘islands’ and ‘Mediterranean coast are characterised by a different dynamic, where the price increase is maintained: 1% at a monthly rate.
The capitals and large cities’ have slightly lowered the average value in April compared to March (-0.2%).
The overall index is 18.2% below the December 2007 peak.
The housing market is consolidating the trend of price stabilisation that began in the middle of the year, albeit with exceptions in the areas with the greatest tourist activity. The general index of Tinsa-IMIE statistics for general and large markets for the month of April shows an increase of 3.2% compared to the previous year, an increase of one tenth of a point compared to the previous month. The ‘Mediterranean coast’ and the ‘islands’ are characterised by rising price momentum, which led to an increase of 1% last month compared to the previous month.
In April, house prices once again confirmed the pattern of stabilisation in employment centres, large cities and inland municipalities, while areas with a greater tourist component showed a new dynamic, explains Cristina Arias, director of the Tinsa research service.
Arias also points out that the stabilisation of prices in employment centres and large cities reflects the difficulty of accessing housing for local demand. ‘However, the concentration of demand in these areas, together with the scarcity of supply, contributes to price stability in the short term. On the other hand, tourist areas suffer from the price pressure created by investment demand and second home buyers.