Transparent Spanish Property Prices
February 24th, 2009
There are two ‘must-read’ articles this week, not because I wrote them, but because they deal with a significant problem in the Spanish property market – no price transparency.
Now, the good news is that a price index from Tinsa assessors looks like it’s the real deal – a reliable barometer of house prices in Spain.
I’ve been aware of Tinsa’s index for a while but haven’t paid it much attention – mainly because it’s based on their own valuation techniques, and because they produce a fairly abstract number representing the state of the Spanish property market at a particular point in time.
However, after reading an article on Spain Economy Watch, I understood two things about the Tinsa index:
- It has reliably followed Spanish price trends for 9 years
- It can be used to work out a good ball-park price for a property
So, there’s not really new information here, it’s just that I have a new understanding of how the Tinsa data can be useful.
Perhaps you’d already figured that stuff out? If so, I apologise for my slowness, and then for presuming to tell you about something you already knew.
However, if you haven’t yet seen the practical value of the Tinsa data, Finally, Realistic Spanish Property Trends will give you a brief introduction and What Will You Pay for a Spanish Property in 2010? gives you a specific example of how to put the data to good use.
As a buyer, I hope that you find the articles a useful way of evaluating the price of a property you’re interested in. If you’re selling a property in Spain, be prepared to use the same approach to demonstrate its value.
Martin Dell, Kyero.com
