The SPI House Price Index Tracker plots the six most-watched Spanish house price indices and despite their different methodologies, they all show Spanish house prices declining after the start of the coronavirus pandemic in 2020, and then recovering strongly in 2021.

Spanish house prices changes by index in the year to Q3 2021 were as follows:

• The Spanish government (MITMA) based on valuations +2.6%
• The National Institute of Statistics (INE) based on data from the Land Registry +4.2%
• The Spanish Land Registrars’ Association using their ‘repeat sale’ methodology +7.4%
• The Association of Spanish Notaries based on sales witnessed by its members +10.9%
• The Idealista.com (property portal) resale asking price index +4%
• The Tinsa index based on property valuations carried out by the company +8.3%

The notaries also publish a regional index showing house price changes in each of Spain’s autonomous regions. Prices increased by 15% in the Canaries and Madrid, but by just 2% in Murcia.

Tinsa provides property price data for the Mediterranean coast (+12%) and the Balearic and Canary Islands (+10.1%) suggesting that house prices are rising the fastest in the areas that attract the most foreign investors.