Tinsa reports an increase of 7.8% in the values of the Mediterranean coastal properties
Who is Tinsa?
"Tinsa, with 30 years experience, is a leading multinational property valuation and consultancy company. Its client portfolio includes the vast majority of financial institutions in the countries in which it operates, companies operating in multiple sectors, Public Administrations and private individuals."
The figures for November show a national increase of 5.6 percent in the last year.
The leading Spanish property valuation firm TINSA published its most recent data on the market value of housing last week, reporting that in November the ongoing recovery of prices across the country continued in all categories.
The year-on-year increase was slightly more pronounced than in October, equivalent to 5.6 percent across the country, and the company reports that its index is now 12.6 percent higher than when the market was made fund in February 2015 (although still 35 percent lower than the height of the boom at the end of 2007). The stepped nature of this recovery can be seen in the breakdown of the figures, which shows that in the Spanish regional capitals and in other large cities market values have increased by more than 20% in the last three and a half years, while in other places there are AB increases of 15% in the coastal areas of the Balearic and Canary Islands and the Mediterranean.
As for the breakdown of the figures for November, the sharpest increase from year to year is again in the regional capitals and other large cities by 9.4 percent, followed by increases of 7.8 percent in the areas Mediterranean coastal areas, 4.7 percent in metropolitan areas, only 2.3 percent in the Balearic and Canary Islands and 0.1 percent in the catch-all category of "other municipalities".
The last bulletin also contains the monthly "market snapshot", in which TINSA highlights reasons to expect upward or downward movements in the value of homes in Spain, summarizing the following indicators among others:
- Sales figures: the latest monthly data (for September) show an increase of 10.8 percent year on year, while the cumulative increase in the first nine months of the year is 11.6 percent.
-Licencias de construcción: the latest monthly data (for September) show an increase of 8.1 percent year on year, but an increase of 24.1 percent in the first nine months of this year.
-Libraries granted: the latest monthly data (again for September) show an increase of 10.4 percent year on year, reaching the highest level in 7 years, and an increase of 10.5 percent in the first nine months of 2018 .
-Unemployment: the latest monthly data (for November) show a decrease of 6.37 percent year on year to 3,250,000.
-Euribor: the interest rate at which most mortgage reimbursements in Spain are calculated is currently at -0.147% (the average for the month of November), having increased minimally from its lowest level ever.
Once again, the obvious conclusion is that there is no reason to expect a slowdown in market recovery in general terms, although the data reinforce the suspicion that prices and sales figures may reach a plateau in some of the markets. areas where the rise began earlier, such as the Balearic and Canary Islands. On the other hand, the conditions seem to be correct for the recovery to be generalized in other areas of Spain, and this reaction is strengthened particularly by the increase in the number of building licenses: This shows that not only is there sufficient demand for the offer current housing is insufficient, but the market prices are high enough for developers to consider profitable embarking on new promotions.
