The latest data from valuations company Tinsa show that while some regions are doing well, at a national level, Spanish property prices are still falling. Reinforcing this are the latest figures from the Housing Department, which also show prices falling slightly.
Tinsa’s May numbers, based on its own valuations, show that average national house prices fell 3.6% year-on-year but that there are significant regional variations. For example, while prices on the Mediterranean coast and Balearic Islands fell by 2.3% and 2.1% respectively, there were larger price falls in provincial capitals and large cities (4.9%).
Coastal property prices are still down 48.8% compared to the peak of the market, while nationally prices have fallen 42.1% in that time.
Government figures show the average price for Spanish property fell 0.11% in the first quarter of 2015, lower than the 0.36% fall of the last three months of 2014 and the smallest quarterly decline since the economic crisis began
Seven autonomous regions registered year-on-year price growth: the Canaries lead the way (up by 3.56%) followed by Aragon (up 1.9%), Madrid (up 1.67%), the Valencian Community (up 0.69%), Extremadura (up 0.57%), the Balearics (up 0.1%) and Andalusia (up 0.05%).
