The SPI House Price Index Tracker plots the six most-watched Spanish house price indices on one chart (above) to give you an idea of the property price trend in Spain.

House price data in Spain can be published months after the event, which is why we are now looking at the data for the first quarter of 2022.

All the indices included in the tracker show average national house prices rising, though the asking price index from Spanish property portal Idealista shows the rate of increase decelerating.

Do decelerating asking prices today predict a deceleration in sales prices tomorrow? Perhaps. The data illustrated in the chart above does seem to suggest that asking prices are a leading indicator of sales prices.

The next chart shows the change in asking prices in Q1 alone, and the data (asking prices, valuations, and sales) on which each index is based. Asking prices increased by the smallest amount, and sales prices the most.

The notaries publish regional house price data, allowing us to see how property prices evolved in the different autonomous regions of Spain. As you can see in the next chart, prices basically exploded in the Balearics (+27%), and rose by double-digits in all regions of most interest to foreign investors, with the exception of Catalonia (+9.4%).

The valuations company Tinsa also provide figures and charts on how Spanish house prices have evolved in the last 12 months and the last 10 years in different types of regions like cities, the coast, and the islands, as you can see from the next chart.

The overall picture? Spanish house prices continue to increase in line with increasing Spanish home sales, though a slowdown in asking prices might foretell a change in the trend to come.