Prices on the Mediterranean Coast increased
Housing prices in Spain fell by 0.5% in August, when compared to the previous year, to reach 1,322 points, according to the latest data from Tinsa.
The index shows that the market has stabilised with a slight growth of 0.2% across the first eight months of 2016.
The only increases were recorded in the “Mediterranean Coast” and “The Islands” (Balearic and Canary Islands) with annual increases of 6.2% and 2%, respectively. Meanwhile, “Capitals and Big Cities”. “Metropolitan Areas” and “Other Municipalities” all saw the average property price fall compared to the previous year.
From the peak prices of 2007 the average cumulative decline now sits at 42.1%.
The figures further confirm the stabilisation of the market. Since the autumn of 2014 the average price represented by Tinsa’s General Index has been steady with only small changes, fluctuating in a band between 1,320 and 1,340 points.
January to August 2016
So far this year the areas of “Mediterranean Coast” and “The Islands” have both pushed up the average for the index. It shows slight growth of 0.2% for the first eight months of the year.
In contrast, the first eight months have shown a slight fall in “Capitals and Big Cities” of 0.1%. However, in the “Metropolitan Areas” the fall is more significant at -2.6%.
The report from Tinsa breaks down the country into five areas. Below you will see the full list of areas along with their monthly variations, as well as the main index figures.
- IMIE General Index: Spain: -0.5% to 1,322 points. Jan to Aug: +0.2%. From Peak (2007): -42.1%
- Capitals and Big Cities: -0.9% to 1,328 points
- Metropolitan Areas: -1.5% to 1,217 points
- Mediterranean Coast: 6.2% to 1,400 points
- The Islands (Balearic and Canary Islands): 2.0% to 1,316 points
- Other Municipalities: -2.8% to 1,341 points
