The general "Tinsa IMIE General and Large Markets" statistics index for April reflects a year-on-year increase of 3.2%. Still, this increase is more than doubled in the "Mediterranean Coast" (+6.8%) and almost tripled on the "Islands" (+9%).
The monthly rate (April vs. March), the gap between the general index and the coasts widens even more, with an increase of only 0.1% in the national average, but 1% in the "Mediterranean Coast" and the "Islands".
According to Tinsa, the monthly data for April shows that the residential market continues showing a tendency towards price stabilisation, which began in mid-2022. However, there are exceptions in areas with greater tourist activity.
Likewise, it points out that the price stabilisation in employment centres and metropolitan areas "reflects how difficult it is for local demand to access housing," explains the director of Tinsa's Research Department, Cristina Arias. "The demand concentration in these areas combined with the shortage of supply in the short term contributes to sustaining prices," she adds.
On the other hand, "tourist areas are suffering from price pressures added by investment demand and second home buyers," she explains.
In year-on-year terms, the boost in the groups "Capitals and Large Cities" (2.1%), "Metropolitan Areas" (3.1%) and "Inland Towns and Cities" (2%) has been "modest and commensurate", compared to the growth of the categories of "Island Territories" (+9%), such as the Balearic and Canary Islands, and "Mediterranean Coast" (6.8%), which have accelerated once again.
Tinsa highlights that new and used housing in Spain has increased in value by 39.1% since the minimum recorded after the real estate crisis. However, it is currently 18.2% cheaper than in December 2007, when it peaked in the previous expansionary cycle.
The markets where the Tinsa price index is closest to the levels reached in 2007/2008 are on the islands, where the accumulated fall is only 0.6%, and the "Capitals and Large Cities", where the difference is 14.4%.
At the other extreme are the inland markets of "Rest of Towns and Cities", with prices 27.6% cheaper than the maximum, and "Mediterranean Coast", with 26.4% less.