Independent and accurate property prices in Spain

Download the latest Spanish House Price Index
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The Kyero.com Spanish House Price Index is free to download.

It's updated and published quarterly to evaluate the advertised prices of 100,000 Spanish properties.

Kyero.com Spanish House Price Index
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The latest figures from the Spanish Ministry of Housing contain good and bad news about how many homes were purchased by foreigners during the second quarter of 2007.

Comparing Q2 2006 to Q2 2007 we see the following:

1. Overall number of property transactions fell by 16% from 28,702 to 24,222
2. Andalucia region had a very strong Q2 in 2007 - up by 23% from 3,253 to 4,359. New build completions in Andalucia were up by 60% and resales up by 23%
3. The strongest performer in Andalucia region was Cadiz province with new build completions up 185% from 41 to 117. Sevilla province came a close second with new build growth of 153% from 17 to 43 - seemingly at the expense of resale growth - up just 1%.
4. Malaga and the Costa del Sol was far from disastrous, up 61% overall from 1,402 completions to 2,262 and a strong showing for both new build and resale properties.
5. The islands had a respectable performance. The Balearics improved by 17% overall and the Canaries by 43% - thanks to resale property performing well.
6. Valencia region experienced 7% fewer property completions - down from 7,409 to 6,969. Alicante province experienced poor new build performance, down by 16% from 4,975 to 4,794. Resale completions increased by 6% from 2,715 to 2,878 giving Alicante an overall drop in completions of 4%.
7. Valencia province experienced the reverse split between new-build and resale completions. New build completions increased by 23% and resales decreased by 12% - producing an overall drop in volume of 9% in the province.
8. Normally significant contributors to the number of property transactions, Catalunya region dropped by 39%, Madrid by 57% and Murcia by 24%.

Even though these figures are now almost 9 months old, it's the first time that this data has been made available to the public. It confirms the scope of the downturn in the number of property purchases by foreigners in Spain.

What's surprising is how well the region of Andalucia performed and, in particular, the strong performance of Malaga and the Costa del Sol.

Download the full set of MVIV data

• Original data is freely available to download from the web site of the Ministerio de Vivienda. No changes have been made to the source information other than for clarity of presentation and translation into English.
• New construction is defined as properties less than 2 years old. These figures *might* include property purchased off plan and 'flipped' or resold in the same period and while the property is still technically 'new'
• Resales are defined as any property older than two years - again, this may not strictly correlate to a property having been sold a number of times
• Except where specifically mentioned, all figures exclude sales of subsidised or social housing.
• Sales of urban and rural land are excluded.
• Sales to 'foreigners' are categorised as resident, non-resident and 'other'. For the sake of clarity, only figures for foreign residents in Spain are presented here as they account for the vast majority of cases.
• Actual prices are likely to be unreliable due to the fact that some of the sales price passes from buyer to seller 'under the table'. This amount is never notarised and therefore cannot feature in the MVIV figures.
• As the Spanish government increases their efforts to stamp-out these 'black money' practices, house prices might 'appear' to be increasing when, in fact, a proportion of that increase must be attributed to a larger propeortion of the actual sales value being notarised.