The average cost of a home in Spain rose 1.5% in June, according to the house prices index published by Tinsa, Spain’s leading appraisal company, based on it’s own valuations.
Tinsa breaks down it’s house price index by type of area, revealing that prices rose the most in capitals and big cities like Barcelona, Madrid, and Valencia (+3.6%). Price changes in other areas that interest foreign demand were +1.8% in the Canary and Balearic Islands, and +0.3% on the Mediterranean coast.
Over the first six months of the year prices are up 8.7% in the Balearics and Canaries, and 3% in big cities, but down 0.8% on the Mediterranean coast.
PEAK TO PRESENT
Peak to present house prices are down 48.5% on the coast, where the house price crash took the heaviest toll. The nationwide peak-to-present fall is 41%, but only 26.7% on the islands, where land shortages and foreign demand have supported prices during the crisis.
Like other data sources, the Tinsa index paints a picture of a house price crash that has more or less run out of steam, but without yet finding any energy for a recovery outside of localised hot spots like Barcelona, Madrid, the islands, and the most popular resort towns on the coast, like Marbella.