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The number and value of valuations increased in the first three trimesters of 2016

The Asociación Española de Análisis de Valor (AEV) (Spanish Association of Value Analysis) confirms that in the first three trimesters of 2016 there were 20% more valuations of real estate properties than in the same period of the previous year.

The 745,000 valuations processed between January and September by the 23 valuation societies representing 90% of the sector turnover, constitute an increase to the value of 14%, to the amount of 248,000 million euros. Mortgage valuations have grown in the same way by 13% in number and 7% in value, representing 51% of the total valuations carried out.

With respect to buildings in the planning stage to be built or renovated, valuations have doubled in number and have grown by 40% both in amount and area compared to the same period of 2015. Valuations for both first and second homes under construction have also gone up: 168% increase for second homes and 34% for first homes, which does not seem to be so significant, neither in value nor in area, as it is understood that this refers to more economical, smaller homes

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Automatic valuations and Internet valuations fall in number

On analysing automatic models of valuation and AVMs, an important drop was discovered, of 57%, with 300, 000 properties, and 58% in value, compared to the third trimester of 2015, with a value of 40,000 million euros. This might be due to the drop in the obligation to revise the value of assets belonging to some institutions during the third trimester, this being a total which normally increases in the fourth period of the year. As regards valuations via Internet, these reduced by 8%, probably as a result of the summer months, when valuations have always historically decreased