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The Volume of Home Mortgage Appraisals Rises by 12% In the Year to March

The level of appraisal activity was similar to the first quarter of 2018, confirming a strong start to the year for the real estate sector.

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According to the Spanish Association of Value Analysis (AEV), the volume of residential mortgage appraisals rose by 12% y-o-y in the first three months of 2021. In addition, the overall amount of appraisals increased by 16% in the year to March.

In total, 108,000 home mortgage appraisals were carried out in the first quarter. The average value reached 208,000 euros, increasing 3%.

The data indicate that, during the first three months of 2021, homes were appraised at a higher average value than in previous years. Such an increase was either because they were larger because they were located in higher value regions or areas. Another factor could be buyers’ preferences and purchasing power.

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