Property prices rise by over 10 per cent in Alicante and Barcelona
The property recovery in Spain is still a 2-speed affair say Tinsa
The latest report published on Friday by leading property valuation firm Tinsa concludes that the average price of housing in Spain during the first quarter of 2017 was 1.8% higher than a year previously, although this figure masks a good deal of variation among the country’s 17 regions and 50 provinces.
On the positive side, the best performing regions were those of Catalunya, where prices were 7.5% higher than in the first quarter of 2016, Madrid, with a rise of 6.6% and the Canary Islands (5.3%), while in terms of provincial capitals the stand-out figures are the increases of 12.1% in Barcelona and 11.7% in Alicante. At a local level, there were also average price rises of over 5% in Palencia, Álava, Barcelona, Girona, Málaga and the eastern Canaries, and in the cities of Vitoria, Las Palmas and Madrid.
However, there are various parts of Spain where prices are still reported to be falling. The most significant, again according to Tinsa, are the regions of Murcia (-5%) and Navarra (-5.6%) and the provinces of Huelva, Castellón, Toledo, Segovia and Lleida (all with falls of 5% or more).
Despite this wide variation from one place to another within Spain, the overall summary issued by Tinsa concludes that the general picture is one of stabilization in the market, and that those cases where prices are still dropping are affected by higher levels of unsold property than is the case in overall terms.