Spanish property prices fell by 5.5% over 12 months to the end of January, according to the property price index published monthly by Tinsa, one of Spain’s leading appraisal companies. That’s a slight improvement on the -6.6% last month, and confirms a general trend towards smaller price declines. At this rate prices will be stable or rising again sometime towards the end of the year.
Peak to present
On a peak to present basis, prices are down 15% nationally, 20.4% on the Mediterranean coast, 13.8% in the islands, and 14.9% in big cities and provincial capitals.
By area type
As always, I need to point out that Tinsa’s figures are based on their own valuations, not actual transaction prices. They may be, probably are, quite wide of the mark. Nevertheless, they are interesting in what they reveal about trends, and the valuations used by banks for mortgage lending purposes.