7 May 2018 – Eje Prime
House prices are continuing to rise unabated. Finished home prices (new and second-hand) rose by 5.4% in April compared with the same month last year, driven by rises in the capitals and large cities, which saw price increases of 8.7% with respect to April 2017, according to Tinsa’s index.
On average, house prices have now risen by 10.3% since the minimum level reached at the beginning of 2015, although they are still 36.7% below the peak of the boom recorded in 2007. Prices along the Mediterranean Coast were the most severely hit during the crisis, given that they have recorded a cumulative decrease of 45.8% since their maximum level.
That region is followed by the cumulative decreases in prices in metropolitan areas (42.8%) and, despite having seen an 18.6% increase in their value since May 2015, prices in large capitals are still 36.6% below their 2007 levels.
The capitals and large cities are still continuing to perform the driving role in terms of the reactivation of the market, together with the metropolitan areas and the Balearic and Canary Islands, where prices have risen by 5.7% and 5.6%, respectively.
Original story: Eje Prime
Translation: Carmel Drake