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 March 2017 (all figures show year-on-year percentage change):
- The Idealista asking price index +7.1% in March, the second highest level since the recovery started
- The Tinsa index based on valuations by the company +4.5% in February
- The Association of Spanish Notaries index -0.4% in January
- The National Institute of Statistics index +7.2% 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 – one of Spain’s biggest appraisal companies – also shows house price changes by area, with the big cities (mainly Barcelona and Madrid) up 5.9% in February, the Mediterranean coast up 4.4%, and the Balearic and Canary Islands up 6.8%. With house prices rising across the board, many Spaniards will now see property as a good investment again, which is likely to attract more buyers.