Spanish Regional House Prices
Regional Variation in Spanish Property Value
Figures are often published about the state of property prices in Spain but often these can lead potential buyers in the wrong direct. National figures for Spanish property prices reflect average prices across this vast country and could be completely erroneous for your particular region. The figures which can guide potential buyers (and sellers) are regional figures.
Spanish property evaluation company, Tinsa recently published their statistics for the latest quarter of 2016. The figures show that the property market recovery in Spain is not uniform across the country and that some regions are thriving while others are still battling to dig themselves out of the sump which followed the crash of 2007/08.
The overall national property prices rose 0.8% in the year on year comparison for the third quarter. However figures for each region vary. The most pronounced property market recovery in Spain for the third quarter 2016 can be seen in Madrid and Catalunya with 12 month averages of 4.8% for Madrid and 6.5% for Catalunya. The third region to be recovering nicely is the Canary Islands which a year on year rise in property prices of 3.8%. The northern region of La Rioja saw a rise of 3.7% in property prices and the Basque Country house prices rose by 3.5%.