18 April 2018 – Eje Prime
Appraisal companies are thriving in Spain. According to the latest data from the Spanish Association of Value Analysis (AEV), the turnover of the 23 associated appraisal companies during 2017 amounted to €283.8 million, up by 17.1% compared to the previous year. This upward trend is experiencing an acceleration that almost doubles the turnover growth rate recorded between 2015 and 2016 (9.2%).
Moreover, this ascending inertia is observed in the great majority of the data analysed. The number of real estate appraisals performed increased by 18% to reach 1.25 million appraisals, corresponding to a total appraised value of €389.5 billion. The 650,000 appraisals that were issued for the purpose of mortgage guarantees stand out, in particular, since they represent 24% more than the number carried out during the previous year, according to data from the association.
The number of appraisals conducted without visiting the interior of the property grew substantially, by 67% to be precise, as did the number of appraisals performed online, although at a more moderate rate (by 15%).
In terms of the regional distribution of house appraisals by autonomous community, Murcia recorded the highest growth with respect to 2016, up by 38%. It was followed by Valencia (36%), Cantabria (31%), the Balearic Islands (25%) and Cataluña (25%).
Original story: Eje Prime
Translation: Carmel Drake