More information on the IMIE Reports on Local Markets in Spain
The Spanish Real Estate Markets (IMIE) report by Tinsa by Accumin, a leading real estate valuation and information company, is compiled by a multidisciplinary team comprising data scientists, real estate specialists, and mercado analysts.
The IMIE provides a comprehensive analysis of the residential mercado in Spain, drawing on reliable data covering more than 20 years and featuring the broadest sample coverage.
This report details trends in housing prices at various geographic levels: autonomous communities, provinces, provincial capitals, major municipalities, and districts (available for the cities of Madrid, Barcelona, Valencia, Seville, Zaragoza, and Málaga).
The report is divided into several sections:
- Beginning with an executive summary of the state of the real estate sector and housing values at the national level, as well as by autonomous community, province, and provincial capital.
- In the second section, the document presents maps showing the annual housing price broken down by administrative level, as well as heat maps of the price per square meter for the districts of the major capital cities.
- The third section analyzes the amount of the average mortgage and the cost of repaying it during the first year relative to the average household income.
- The report concludes with charts showing the number of sales and building permits for new construction by province.
Methodology of the IMIE Local Markets Report
The IMIE Local Markets series is derived from data in Tinsa’s databases, which—with a history of more than 6 million valuation records—account for over 25% of the annual valuations conducted in Spain. It is by far the most comprehensive database in the sector.
The data is collected by a group of more than 1,000 specially qualified professionals (architects and technical architects) located throughout the mercado . Consequently, the accuracy of this data is much more rigorously controlled than in other sources, thereby ensuring a high standard of expertise.
Valuations are performed in accordance with the Banco de España regulations Banco de España in current legislation (Order ECO 805/2003 of March 27, effective as of October 2003, and Royal Decree 775/1997 of May 30 for data in the series prior to that date).
The valuation reports are completed using a software application specifically developed by the company, which allows the data collected in the reports to be captured and consolidated in a standardized manner, facilitating its subsequent analysis in a consistent and repeatable way.
Every report we receive undergoes a thorough quality control process before being sent to the client, carried out by a team of more than 80 technicians with extensive experience in the type of Property .
The calculation methodology is similar to that used in theGeneral IMIE. Its main features are as follows:
- Measurement variable: the value per square meter of completed private housing.
- Frequency: quarterly.
- Geographic scope: the entire territory of Spain.
- Population: All appraisals of completed non-subsidized housing conducted by Tinsa using the comparative method for mortgage purposes.
As for the classification of the properties, it was based on the two main characteristics of the properties: their location and type.
The sample is cleaned by grouping properties by period, geographic level, and housing type, and by removing outliers from each resulting set based on a multivariate criterion that takes into account the unit price, floor area, and Property characteristics.
The IMIE calculation methodology involves the use of weighted moving averages with stratification. To prepare the calculation, once the sample has been refined, the distribution of the housing stock by type is analyzed across the index’s various geographic areas, with the aim of accurately assessing the proportion of each type of Property.
The use of this stratification helps identify changes in mercado composition mercado reduces sample selection bias.
The weighting method uses historical data to smooth out current trends by blending them with past trends, giving greater weight to the present so that new trends have a greater influence.
The time window applied to each series is determined based on the sample size, which is linked to mercado dynamics mercado each geographical area.
As a result, the focus is once again on the early detection of changes in property values in the most dynamic markets, while in less dynamic markets, the priority is on maintaining the stability of the index.
Do you need a mercado study? Tinsa has the largest database of verified real estate data in the country, with complete geographic coverage and for any type of property. Request your report atdatasolutions@tinsa.es
