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The latest Spanish residential property price survey published by leading valuation firm Tinsa concludes that the market value of homes in this Spain was 0.8% higher in March 2016 than in the same month last year, with the bulk of the increase being explained by appreciation in Mediterranean coastal areas and in the Balearic and Canary islands.
In both of these categories prices are reported to be 4.3% higher than a year ago, and in Mediterranean areas this is the seventh time in the last eight months that Tinsa have observed an increase. In the Balearics and the Canaries five months of price rises in a row have now been reported, emphasizing that the recovery in the housing market appears to be well under way in the Spanish Costas.
Elsewhere, Tinsa find that the March 2016 average prices were 2.8% higher in “metropolitan areas” than a year previously, while slight falls were recorded in “capitals and large cities” and the catch-all category of “other municipalities”.
In the first three months of this year the average market price of residential property in Spain is reported to have risen by 2.2%, with the most significant increases again having been in the Balearic and Canary islands (5.1%) and Mediterranean coastal areas (3.1%).