The SPI House Price Index Tracker plots the progress of the six most-watched house price indices in Spain, and brings them together in the chart above.

The following residential property price indices were released in February 2017 (all figures show year-on-year percentage change):

• The Idealista asking price index +7.7% in February, the highest level since the recovery started
• The Tinsa index based on valuations by the company +3.6% in January
• The Association of Spanish Notaries index +1.8% in December
• The Association of Land Registrars index +7.6% in December, repeat-sale methodology
• The Ministry of Public Works (Fomento) +3.1% in December

These national indices don’t tell us anything about local markets, but they do at least give us an idea of where we are in the property market cycle. It’s clear from the chart above that Spanish house prices are on the road to recovery, whichever index you choose.

Tinsa Spanish House Price Index

The Spanish house price index published by Tinsa – Spain’s leading appraisal company – also shows house price changes by area, with the big cities (mainly Barcelona and Madrid) up 5.1%, the Mediterranean coast up 3%, and the Balearic and Canary Islands up 4.1% in January.