Real Estate prices in Spain April 2014

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Where can you find data on Real Estate Prices in Spain

On top of data released from time to time by the Bank of Spain and other private entities each month, published by TINSA, one of the largest valuation companies in Spain are the average prices of property in Spain per square meter, along with historic information so trends on the price buyers in Spain are paying can be seen.

What is the scope of the information

The information is somewhat limited in its scope as it is taken from a relatively small example of completions and valuations within the month and is only broken down into the following groupings rather than more specific data.

Regional Capitals and large Cities

Metropolitan areas so large Towns

Coastal areas

The Balearics and Canary Islands

Small Towns and villages

What are the current price trends on property in Spain

The information on the buying trends and prices being paid does give a good indication of the overall trend in terms of price per meter square. The records from TINSA date back for more than 10 years so the evolution of pricing can be seen over a 10 to 12 year cycle.

At present property prices in Spain prices are in general at 2004 levels in most areas but appear to be Stabilising.

Overall since 2002 where prices rose within that year by 15% from the previous year, we have seen in excess of a 35% drop in prices across Spain. In some areas this fall has been as high as 50%.

What the property information does not show is the differences there can be between areas or regions within the larger groupings. There can be a difference between what for instance can be achieved in terms of prices when buying in parts of Marbella to other parts of the Costa del Sol, based on supply of property, and location.

As a more general overview of what is happening the real estate market in Spain the April 2014 chart shows that the year on year rate of devolution is slowing rather than has completely bottomed out.

For Cities and Capitals the decrease was 11.3% in April 2013 and 7.2% in April 2014

For Small Cities and large towns this was 13.7 in April 2013 and 4.3% in April 2014

For the coastal areas the drop was 12.8% in April 2013 and 6.96% in April 2014

The Islands including the Balearics and the Canaries saw an increase of 3.3% in April 2013 and a decrease of 6.7% in April of 2014 this was against however a slower than average drop over the past 12 months when compared to other areas.

The municipalities one of the hardest hit during the economic crisis bucked the trend with a decrease in April 2013 of 11.7% and a small increase of 0.56% in April 2014.

Conclusion

Clients buying in Spain have increased in the last few months and general activity levels are up from the year 2013 with agents and Spanish Lawyers and mortgage brokers reporting increased enquiry levels.

Prices appear to be stabilizing and at the worst the decrease are slowing considerably. The general view is they will bottom out in 2014 and may start to show small but steady increases through 2015.

 

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