1 October 2018 – Eje Prime
Madrid, Pamplona and Alicante. Those three cities led the ranking in house price rises in Spain during the third quarter of 2018. The Spanish capital topped the podium with price rises in the residential market of 15.6%, although six other large cities in the country also recorded double-digit increases, according to data from the IMIE report compiled by Tinsa.
Along with the Spanish capital, Pamplona and Alicante saw their house prices soar between June and September, with increases of 14.2% and 13.2%, respectively. Moreover, Palma (de Mallorca) continued to be one of the most expensive markets, after recording a price rise of 12.8% during the period. Meanwhile, in Málaga, house prices rose by 12.5%, Valencia recorded an increase of 12% and Murcia saw a rise of 11.1%.
The report reflects the boom in the provincial capitals, which were key drivers behind the 4.9% increase in new and second-hand house prices in Spain during the third quarter, to €1,317/m2.
With this new increase, house prices in Spain have been rising since the third quarter of 2016. Nevertheless, sources at Tinsa recall that “although the normalisation of the residential market is a general trend, there are still significant differences by region.
By autonomous region, Madrid is the region where house prices rose by the most in the last 12 months, with a rise of 13% in Q3. It was followed by La Rioja, with an increase of 11.8%; the Balearic Islands, with a rise of 9.9%; and Navarra, with growth of 8.7%.
Original story: Eje Prime
Translation: Carmel Drake