All the latest market metrics including Tinsa’s Spanish property price index – 3.9pc in 2010

A summary of all the latest market metrics from a variety of sources including Tinsa’s widely-watched property price index showing house prices down 3.9pc in 2010.

Tinsa House Price Index
-3.9pc in 2010, ending the year at 1,872 €/m2, taking prices back 5 years to where they were in September 2005.

This is how the Tinsa Index finished the year broken down by area. Note that mainland coastal areas (Costa Mediterránea) had the worst year, with prices down 6.8pc. In comparison the Islands did relatively well, down just 2.4pc in the year.

At 1,911 €/m2, prices on the Mediterranean coast are now down 26pc compared to their December 2007 peak of 2,590 €/m2, all according to Tinsa.
Full report here > http://www.tinsa.es/down/IMIE/2010/IMIE_12_2010.pdf

Idealista Resale Asking Prices
– 5.7pc in 2010, ending the year at 2,270 €/m2.

Commenting on their annual market report, Fernando Encinar, head of research at Idealista.com, predicted that 2011 would be another difficult year for vendors, saying “There is still a lot of property for sale, lending conditions are still tight, people are worried about their jobs, Euribor is low and prices are still out of reach for the majority of buyers. Under the circumstances buyers should reduce their prices even further if they want to make a sale, without forgetting that in the coming months banks will probably start offering more aggressive prices for their properties.”

For a breakdown of prices changes per region > http://imagenes.idealista.com/news/archivos/informe_precios_con_logo.jpg

For Idealista’s annual market report (in Spanish) > http://www.idealista.com/informacion/anio_2010.pdf

Fotocasa Resale Asking Prices
– 3.8pc in 2010, ending the year at 2,262 €/m2. That compares to a 10pc fall in 2009.

As a result, a flat of 80m2 would now cost 181,000 Euros before costs and taxes.

Average asking prices have now fallen 23.4pc since the peak, but recent price declines have been getting smaller. Prices are even reported to be rising in some areas, namely The Balearics (+2.1pc) and Asturias (+0.4pc).

The following chart shows how the fotocasa price index has evolved over the last 5 years:

Full info on price changes by area > http://www.fotocasa.es/indice-inmobiliario__fotocasa.aspx

Fotocasa Rental Prices
-5.8pc in 2010, ending the year at 8.05 €/m2/month.

Full info on rental prices by area > http://www.fotocasa.es/indice-alquiler-inmobiliario__fotocasa.aspx

Facilisimo.com Resale Asking Prices
-4.58pc in 2010, ending the year at 2,043 €/m2, the lowest leave since mid-2004

Planning Approvals
106,796 in the first 10 months of the year, 13.25pc less than the same period in 2009, show figures from the Government (Fomento).
8,442 in October, 34pc less than lasts year

Construction completions
217,588 in the first 10 months of the year, 35pc less than the same period last year (Fomento).

Comments

comments

One thought on “All the latest market metrics including Tinsa’s Spanish property price index – 3.9pc in 2010”

  1. adiep

    we all say how the TINSA numbers are usually nonsense, but it appears they are consistent with Idealista and Fotocasa asking prices, so perhaps the Tinsa numbers are more related to asking prices than actual transactions.

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About Mark Stücklin

Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on ms@spanishpropertyinsight.com.