Spanish house prices are on the rise, according to the closely-watched index published by Tinsa, Spain’s leading appraisal company.
The Tinsa index rose by 1.9% in November, compared to the same time last year. However, the increase is somewhat exaggerated by an unusual fall in prices last year, Tinsa point out. On a monthly basis, prices were down a fraction compared to September.
House prices rose in all the types of areas that Tinsa report on, most markedly in big cities like Barcelona and Madrid, up 3%, followed by coast areas, up 1.4% (see table above). Prices were stable, up just 0.2% in the Balearic and Canary islands.
Peak-to-present house prices are still down 41.3% in general, and 48.2% on the coast.
HOUSE PRICE INDEX TRACKER
Compared to other house price figures published by leading sources (included in the SPI House Price Index Tracker), the latest Tinsa index reflects a mild trend towards rising prices based on sales, whilst asking prices are still stagnant or falling.