Property Appraisal Sector Grows For 2nd Year Running

20 April 2016 – El Mundo

The combined turnover of the 23 appraisal companies that belong to the Spanish Association of Value Analysis (‘la Asociación Española de Análisis de Valor’ or AEV) amounted to €221.4 million in 2015, up by 8% compared with 2014. This is undoubtedly a clear sign of the recovery in the real estate sector. Moreover, these figures show that activity in the sector grew for the second year in a row.

This upwards trend was also reflected in the number of property appraisals performed, which rose by 28.6%, to 872,480 operations, worth €313,932 million.

Of that total, 461,131 valuations were performed on homes, and 457,569 complete appraisals were carried out for mortgage purposes, 19.7% more than in 2014, and the value of those efforts increased by 25%.

The 23 appraisal companies, which account for 90% of the sector by revenue, also carried out five million statistical or other valuations, which contributed significantly to the increase in turnover.

In the words of the AEV’s secretary José Manuel Gómez de Miguel, the aggregate data published by our members allows us to affirm that “these two years of positive data show that there has been a turnaround in terms of appraisal activity in our country, which, along with many other indicators, may be extrapolated to activity in the real estate sector as a whole and to mortgage lending”.

“This data”, added Gómez de Miguel, “also alludes to the flexibility and adaptability of the large, medium-sized and small companies that make up the different areas of the sector”.

Ranking by turnover

The table in the article lists the ranking of the 23 appraisal companies that belong to the AEV, by turnover. The Top 5 (Tinsa, Sociedad de Tasación, Valtecnic, Ibertasa and Gesvalt) account for more than 65% of the total turnover, after they reported very similar figures to last year.

Original story: El Mundo

Translation: Carmel Drake

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