The average increase in value in Spain was 2.7% in March, compared to the same month of the previous year, and 3.2% in the first trimester of the year (January to March), according to the índice Tinsa IMIE General y Grandes Mercados, published today.
“The Balearics and Canaries”, with an increase of 7%, and the “Capitals and Large Cities”, with an increase of 5.5%, are the areas with the biggest price rises over the past year. The accumulated fall since previous record highs has dropped below 40% for the first time since June 2014 and stands at 39.4%.
Also of note is the performance in March of the “Mediterranean Coast”, with an average price 1.9% above Mach 2013. In turn, the “Metropolitan Areas” and the group of smaller localities, grouped together as “Remaining Municipalities” experienced a more moderate annual fall, 0.5% and0.6%, respectively.
“Thee general figures show a significant upturn in the last two months compared to the flatter tendency maintained throughout 2016. However, we should also bear in mind the increase in inflation, which mitigates much of this growth in real terms,” Jorge Ripoll, director of Study Services at Tinsa points out.
For the first time in almost three years, the accumulated decrease of the completed house compared to the highs reached at the end of 2007, are below 40%. The biggest fall in prices can be found in the “Mediterranean Coast” (-45.5%).