Finally and increase month on month of property prices in Spain

Data released this month by TINSA one of the most highly used valuation companies by the Banks in Spain for valuation purposes suggest the tide is trurning on price per square meter.

Property price increases from April 2014

Whilst prices in the month of May taken from a selection of formal valuations undertaken continued to show a decline for the year the May average price pre meter increased from April in all areas excpet the Islands.

The largest month on month increase was in the Coastal regions which fits with the upturn on mortgage applications in these areas from International buyers.

The Cities of Barcelona and Madrid and Valencia also saw a month on month increase suggesting in the traditional holiday resorts and areas of commerce activity the bottom of the market is very close.

A wind of change or just a blip

Since the beginning of the second quarter activity levels in terms of buyers and mortgages has increased noticeably. Valuations for mortgage purposes seem to be indicating that property can now being bought at below the level the valuation companies believe could be achieved. All these matters are helping activity and will finally follow through to an overall recovery.

Price increases are likley to be slow but steady in certain areas of Spain and a more fluid mortgage market is still required to push matters along. We are however appearing to now be at the bottom of the curve and moving in the right direction.

Read the full article : Monthly house price report for Spain