The property valuation company Tinsa recently released its end of year figures for property values throughout the Iberian Peninsula, based on its valuations of 200,000 new and existing properties during 2014. Tinsa’s figures provide an important insight into the speed at which the Spanish property market is changing, and just as importantly, in which regions the most significant alterations are occurring.
Málaga city has emerged as the provincial capital with the most significant rise in prices. Tinsa points out that although real estate prices have started to stabilise on a broad national basis, there are still significant differences between different parts of the country.
Against this background, the capital city of the province of Málaga registered a 4.7% price rise in the last quarter of 2014 to record the fastest rise in the country. However, as Tinsa points out, prices in Málaga have dropped by 47.7% from their highest levels before the financial crisis began.
Not a provincial capital, Marbella’s figures did not enter into this comparison, yet if they had the resort town would have bettered even Málaga to cement its position as one of the main drivers that has lead the way in pulling the Spanish real estate market out of recession, and into the slow growth that is forecast for this year. Marbella itself has been growing since 2012, with a momentum that has been slowly gathering pace and is expected to steadily continue upward in 2015.