Looking ahead to 2016 it looks as if the Spanish house market will continue to recover but the latest data shows it is still a rollercoaster and growth very much depends on location.
According to the latest figures from appraisal company Tinsa prices are still increasing with its latest index up by 1.9% in November year on year.
However, the increase is somewhat exaggerated by an unusual fall in prices last year and on a monthly basis prices were down a fraction compared to September.
The Tinsa index shows, however, that the recovery is broad based as house prices rose in all the areas covered. Prices in Barcelona and Madrid were up by 3%, coastal areas popular with overseas buyers saw price growth of 1.4% and the Balearic and Canary Islands 0.2%.
But the recovery still has some way to go as since the peak of the market house prices are still down 41.3% in general, and 48.2% on the coast.
The Balearic Island saw price growth of 0.9% followed by the Canary Islands up 0.5%, Andalucía up 0.3%, Navarra and Castilla-La Mancha both up 0.1%.
...continue reading "Spanish Property Market Recovery Set to Continue in 2016"
