Values of property in Spain and Valencia are still holding, and there is a slight increase too.
Property values in Spain and in Valencia are holding, according to Tinsa.
If you are waiting for property prices to drop before you buy, your wait might be longer than expected. In the latest report by Tinsa, a leading Spanish property valuation company, the prices in August didn’t go down. As a matter of fact, they went up.
The price of new and used housing in Spain registered an increase of 0.1% during August compared to the previous month.
At the same time it rose 0.9% in the interannual rate, according to the monthly statistics of Tinsa. In July, interannual rate stood at 0.0% increase.
This increase is even more prominent in the metropolitan areas and on the islands. The interannual growth is 2.8% in capitals and large cities; 3% in metropolitan areas and 5.5% in the group formed by the Balearic and Canary Islands.
Unfortunately, like during the 2008 crisis, properties in small inland towns and along the Mediterranean coast, grouped in ‘Rest of municipalities’ are losing value faster. The loss is 1.5% compared to the same month last year, or 4,6% since the beginning of the Corona pandemic.
But, all in all, there is still no major pricing shift in the property market, so it is an extremely complicated task to predict which way the prices are going.