ARCHIVED - Tinsa report 5.3 per cent rise in Murcia property values

The Costa Cálida property market shows signs of post-pandemic buoyancy

Leading Spanish property valuation firm Tinsa has published its summary of house price trends during the second quarter of 2021, reporting an increase of 2 per cent in the market value of residential property across the country in comparison with the same period last year.

As ever, though, there is considerable variation among the results obtained for Spain’s 17 regions, and Murcia is one of those showing the strongest growth with an increase of 5.3 per cent over the last 12 months. Only in the Balearics, the Basque Country, Galicia and Asturias were sharper increases observed, while decreases are reported in the northern regions of Castilla y León, Aragón, La Rioja and Navarra.

Furthermore, it appears that there is further scope for appreciation in property in the Costa Cálida: the average value of 1,001 euros per square metre is still only 12.5 per cent higher than when the market bottomed out in 2015 and 42.6 per cent lower than shortly before the real estate bubble burst in late 2007.

By way of comparison, in Spain as a whole the average value of 1,421 euros per metre square represents an increase of 18.7 per cent since 2015, but a drop of 30.6 per cent since 2007.

The Tinsa report also includes the information that in the city of Murcia the increase in value over the last year is 3.7 per cent, suggesting that in other parts of the Region, including the coast, the rise has been sharper.