More information on IMIE Reports Local Markets in Spain
The Spanish Real Estate Markets Report (IMIE) of Tinsa by Accumin, a leading real estate valuation and information company, is prepared by a multidisciplinary team of data scientists, real estate specialists and market analysts.
The IMIE makes an exhaustive radiography of the situation of the residential real estate market in Spain with reputable, evolutionary data for more than 20 years and with the largest sample coverage.
This report details the evolution of housing prices at various geographic levels: CCAA, provincial, provincial capitals, major municipalities and district level (available for the cities of Madrid, Barcelona, Valencia, Seville, Zaragoza and Malaga).
The report is divided into several blocks:
- Beginning with an executive summary of the state of the real estate sector and the value of housing at the national, autonomous community, provincial and capital city levels.
- In the second section, the document shows annual housing price analysis maps divided into different administrative levels, and heat maps of the price per square meter of the districts of the largest capital cities.
- The third section analyzes the amount of the average mortgage and the effort to pay the first year of the mortgage in relation to the income of the average household.
- The report concludes with representative graphs of the number of sales and new construction permits by province.
IMIE Local Markets Report Methodology
The IMIE Local Markets series are obtained from information from Tinsa's databases which, with a history of more than 6 million valuation records, represent more than 25% of the annual valuations carried out in Spain. It is by far the most extensive database in the sector.
The data is collected by a group of more than 1,000 specifically qualified technicians (Architects and Technical Architects) distributed throughout the entire Spanish market. Therefore, the rigor with which such data is collected is much more controlled in other sources, thus ensuring an expert level.
Valuations are made in accordance with Banco de España regulations established in current legislation (Order ECO 805/2003 of March 27, 2003 as of October 2003 and Royal Decree 775/1997 of May 30, 1997 for series data prior to that date).
The valuation reports are completed through a computer application specifically developed by the company, which allows the data collected in the reports to be captured and consolidated in a regulated manner, facilitating their subsequent use in a homogeneous and recurrent manner.
Each report received undergoes an exhaustive quality control prior to being sent to the client, carried out by a team of more than 80 technicians with extensive experience in the type of Property reviewed.
The calculation methodology is similar to that used in the IMIE General. Its main characteristics are as follows:
- Measured variable: the value per square meter of finished free-standing housing.
- Frequency: quarterly.
- Geographical scope: the whole of Spain.
- Population: all appraisals of finished free housing carried out by Tinsa through the comparison method and for mortgage purposes.
The products were classified according to the two main characteristics of the properties, represented by their location and typology.
The sample is filtered by grouping the properties by period, geographic level and type of dwelling, eliminating the extreme values of each resulting set according to a multivariate criterion that considers the unit value, the surface area and the characteristics of the Property.
The IMIE calculation methodology consists of the application of weighted moving averages with stratification. To prepare the calculation, once the sample has been cleaned, the distribution of the housing stock according to its typology in the different geographical areas of the index is studied, with the aim of correctly assessing the proportion of each type of Property.
The application of this stratification helps to detect changes in market composition and reduces sample selection bias.
The weighting applied uses historical data to smooth present behavior with past behavior, giving more weight to the present so that the influence of new trends takes precedence.
The time window applied in each series is determined by the sample size, which is associated with market dynamism in each territorial aggregation.
Thus, priority is again given to the early detection of variations in the value of real estate in the more dynamic markets, while in the less dynamic markets, priority is given to the stability of the index.
Do you need a tailor-made market study? Tinsa has the largest database of verified real estate data in the country, with full geographical coverage and for any type of asset. Request your report at datasolutions@tinsa.es
