Inisghts & Publications

ESG Series | Chapter 2: Environment as the foundation of how Accumin grows

In the first chapter of our ESG series, **Accumin** introduced “Our footprint, our balance: Driving ESG”, reaffirming our commitment to aligning the group’s growth with a responsible and sustainable vision.

Today, we focus on the **“E”, Environment**. For Accumin, this is not a trend, but the foundation of how we operate and scale our business.

Our environmental strategy starts with **measurement**. Through an external platform, we assess our **Scope 1, 2 and 3 emissions**, enabling us to identify where action delivers the greatest impact. The results already show clear progress: **Scope 1 and 2 emissions have decreased by 32% compared to 2024**, exceeding our initial reduction target of –25%.

From an internal perspective, we continue to improve **energy efficiency**, reduce consumption and promote more **sustainable mobility** across the group.

Equally important is how we support our clients. We are expanding our **sustainability and ESG offering**, integrating environmental criteria across our services, particularly in **real estate valuations**, a core activity and a key lever to support the market’s transition.



Our sustainability capabilities include, among others:
- Energy audits
- Energy Performance Certificates (EPCs)
- Sustainability certifications (LEED, BREEAM, among others)
- Regulatory compliance (EU Taxonomy, EPBD, CSRD)
- Decarbonisation plans for real estate assets

As we grow, we do so with purpose: incorporating companies such as **Zero Consulting**, collaborating with the **Ministerio para la Transición Ecológica y el Reto Demográfico**, and integrating **Accumin Intelligence climate-risk data** into our assessments.

You can’t transform what you don’t measure.

That’s why the **“E”** is our starting point.

**Next stop: the “S”.**

Troostwijk celebrates its 95th anniversary with a landmark event in Amsterdam

Tinsa by Accumin once again leads Spain’s valuation and appraisal ranking

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Spain’s coastal market remains resilient, according to the Coastal Property 2025 report

The latest **Coastal Property 2025 report**, prepared by **Tinsa España by Accumin** and **Accumin Intelligence**, analyses the evolution of Spain’s coastal residential market and confirms its continued strength in a changing economic environment.

Foreign demand remains a key driver. In 2024, purchases by international buyers in coastal provinces increased by **2.5%**, while overall home sales across Spain also showed positive momentum over the past year.

Coastal areas continue to concentrate most foreign transactions. Around **83% of foreign purchases** were completed in coastal locations, with a strong presence in the Islands and along the Mediterranean coast. Within this trend, the report identifies contrasting dynamics. Foreign demand declined in the Balearic Islands, while the **North Coast of Spain recorded notable growth**.



The profile of international buyers is also becoming more diverse. Alongside traditional demand from the UK and Germany, interest is increasing from the Netherlands, Poland, the United States and China. The analysis highlights that foreign residents and non-residents tend to seek different types of properties, influencing local market dynamics.

Investor interest in holiday rentals remains significant. According to **71% of Tinsa’s expert valuers** who contributed to the report, investment purchases linked to short-term rentals have increased in coastal markets.

At **Accumin**, we analyse these dynamics to support buyers and investors with clear information and grounded advice. In markets as active and segmented as Spain’s coastal regions, clarity is essential for sound decision-making.

The [full report](https://www.accumin.com/intelligence/insights/reports/spain-coastal-housing-2025-report-real-estate-intelligence-to-anticipate-the-market) is available in Spanish. An English version will be released soon.


Spain’s residential market heats up in 2025, with rising prices and growing territorial disparities

Tinsa Chile by Accumin achieves ISO/IEC 27001 certification

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The latest analysis conducted by **Accumin Intelligence** in collaboration with **Tinsa Spain** confirms increasing upward pressure on residential property prices in 2025, alongside a growing territorial imbalance across the Spanish market.

Data for the **second quarter of the year** point to particularly strong performance in a significant number of cities and prime or tourist-driven locations. In total, **34 province capitals recorded year-on-year price increases above 5%**, highlighting the strength of demand in major urban areas.

Several municipalities stand out for their exceptional momentum, including **Benidorm**, with a **19.6% annual increase**, and **Marbella**, where prices rose by **17.2%.** In **Madrid**, residential prices continue to show strong growth, increasing by **16.1% year-on-year** and **4.4% compared to the previous quarter**.

At a regional level, the analysis reveals that **only 12 autonomous communities posted quarterly increases above 2%**, underlining the uneven evolution of the residential market across Spain.

The **national average theoretical affordability ratio**, measuring the share of household income required to purchase a home, stands at **34.1%**, indicating sustained pressure on housing affordability.

At Accumin Intelligence, these insights are transformed into **strategic market knowledge**, supporting better-informed decision-making across investment and financing in an increasingly complex real estate market environment.

Price per square metre in Chile continues to rise in new housing despite stabilisation in total values

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According to **Felipe García Bunster**, Head of South Latam at **Tinsa by Accumin**, the **total value of new residential properties in Chile has remained broadly stable since 2019**, while the **price per square metre continues to increase at an annual rate of around 7%.**

This trend is partly explained by **a gradual reduction in average dwelling sizes**, as the market adapts to tighter economic conditions. However, smaller homes do not necessarily translate into improved affordability, as financial pressure on households remains significant.

The analysis also points to a **growing preference for renting over buying**, alongside a closer alignment of supply with buyers’ real payment capacity. In **high-demand areas**, such as the **Metropolitan Region**, these adjustments are particularly pronounced.

In contrast, regions where prices remain relatively lower may still experience **further upward pressure**, highlighting the uneven evolution of the residential market across regions.

These insights support a deeper understanding of market dynamics and enable more informed decision-making across the real estate sector.


Real Estate price transparency

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Tinsa Spain IMIE local markets Q2 2025

The Spanish property market consolidates its growth. In the second quarter of the year:

-	The average price of new and second-hand homes rose by **9.8% year-on-year**.
-	**Madrid** leads the way with an increase of **16.1%**, followed by the Balearic Islands, Malaga and Valencia.
-	The provinces surrounding Madrid, such as Toledo and Guadalajara, grew by over **7%**.
-	Supply remains insufficient: completed homes fell by **7.9%**, despite the increase in building permits.
-	In **seven provinces**, the purchase effort exceeds **40% of income**. In Malaga, it reaches **58%.**


Download the full report and make informed decisions

At Accumin, we convert this data into actionable intelligence for banks, investors and operators in the sector.

Spanish shore housing report 2025

Tinsa Colombia by Accumin achieves ISO/IEC 27001:2022 certification

Leave us your details to access the full report.

Download the Full Report

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A data-driven view to understand what’s driving Spain’s second-home market today.
##### 

The research team of **Accumin Intelligence** has analysed more than 150 coastal zones to provide a rigorous overview of market behaviour in this key segment.

Here are some of the standout findings:

- Average coastal price up +7.2% YoY
- Scarcity of new builds boosts values in premium areas
- 32 municipalities surpass pre-crisis peak prices
- Northern Coast leads in transaction growth

A must-read for real estate professionals, financial institutions, and investors seeking clarity and foresight.


Access the full report

on-geo days 2025: insights, perspectives and connections from across the industry

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Tinsa Spain IMIE local markets Q1 2025

The IMIE Local Markets statistics show the evolution of the unit market value of housing in each of the Autonomous Communities, provinces and capitals of Spain, based on the appraisals of completed free market housing carried out by the company in the period analyzed.

The average price of new and used housing in Spain increased by 7.5% year-on-year in the first quarter (+4.7% in real terms, discounting the effect of inflation).

New construction report Spain 2025

Accumin awarded Bronze Medal from EcoVadis for sustainability performance

The real estate sector is constantly evolving and understanding its trends is key to making strategic decisions.

The new report “New Construction Housing 2025”, prepared by experts from Tinsa by Accumin's Research Department, will provide you with a detailed analysis of the evolution of prices and developer activity from 2021.

In this report you will discover:
- Average price of new construction housing by Autonomous Communities, Provinces, Capitals and relevant municipalities, and employment poles and metropolitan areas of Madrid and Barcelona.
- Evolution of building permits and new construction sales and purchases.
- Energy efficiency of the residential stock.

Accumin sponsors NPL Europe in London

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An overview of mortgage lending in 2024 in México

According to the analysis "Real Estate Market Outlook 2025" prepared by Tinsa Mexico by Accumin, Nuevo León led the country in mortgage loan issuance in 2024 with 13.1% of the total, followed by Jalisco (9.3%) and the State of Mexico (6.9%). The share of these three states in loan issuance was very similar to that of 2023.

The states of Quintana Roo, Guanajuato, Baja California, and Querétaro are in the following positions, leaving Mexico City in eighth place.


By type of housing, used homes have gained ground in states such as Mexico City, the State of Mexico, and Baja California Sur, where they represent more than 55% of the number of loans issued. 

By segment, the largest percentage of mortgage loans are for traditional and mid-range housing. Second-hand property is particularly prevalent in the traditional segment, while new homes are particularly prevalent in the mid-range segment. 


By age group, 42% of those who took out a loan were between 25 and 34 years old, followed by those between 35 and 44 years old at 31.1%, and those between 45 and 54 years old at 16.1%. In 2023, a similar share will be among those between 24 and 34 years old, with the participation of young people becoming a trend that stimulates demand and the type of real estate offering.

According to economic analysts, the GDP outlook for 2025 will be conservative, with a 1.0% to 1.2% growth rate, as is traditional at the start of a new six-year term, coupled with external economic and political conditions that could influence the Mexican economy.


Mortgage lending is also expected to grow conservatively with stable interest rates.

At Tinsa by Accumin, our purpose is to empower people and companies to grow by making the best decisions in a constantly evolving market. Our goal is to provide precision, clarity, innovation, and build trust with our clients, identifying opportunities and risks that might otherwise go unnoticed.

- **[Original news link](https://www.tinsamexico.mx/radiografia-de-la-colocacion-de-creditos-hipotecarios-en-2024/)** 
- **[Radiografía 2024 (Spanish only)](https://www.tinsamexico.mx/#flipbook-df_42618/1/)** 

Real Estate market trends for 2025: Tinsa Mexico by Accumin

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An overview of mortgage lending in 2024 in Mexico

2025 will be a stable year, although with challenges. At Tinsa México by Accumin, we expect sales growth in the housing market of 2.5% to 3%, driven by the following trends:

- Sales growth in the housing market is expected to be 2.5%.
- Institutional income is positioned as an organized alternative to the traditional income market.
- The retail market is starting to get busier.
- **Changes in the composition of the housing segment** - Currently, new housing development is concentrated in residential segments, although there is unmet demand in social sectors, creating an area of opportunity.
- **The sustainability theme is gaining momentum** - Green mortgages and their preferential rates will be an area of opportunity for both bridge loans and mortgages, so emphasis will be placed on seeking LED certifications and other sustainability issues. By the end of 2024, projects with a sustainability certification such as EDGE or LEED will represent less than 5% of active projects, clearly representing an area of opportunity.
- **Institutional rental market boom** - Also known as "multifamily," institutional rentals are positioning themselves as an organized alternative to the traditional rental market, known as the "shadow market," in areas with high capital gains, generating good investment opportunities.
- **Ticket Price above the value per square meter** - The value per square meter is still relevant. However, the Ticket Price has become a crucial factor for developers to stay in the market. In many cases, the size of the home is reduced to maintain a competitive Ticket Price.
- **Downsizing** - Over the last decade, the average home size has shrunk by more than 20m², due to economic and market factors. We've moved from ideal properties of between 90 and 110m² to more compact units, especially in central areas of large cities, in line with current ticket prices.
- **Young people's share of demand** - The increase in demand from young families is changing the type of property. This group is seeking well-located properties, both for rent and for sale, close to parks, gyms, shopping centers, and restaurants, sacrificing size.
- **Efficient amenities** - Efficient amenities that don't generate high maintenance costs are currently in demand. Amenities that create community and compensate for the small size of properties are favored. Walking distance will be a key factor in development.

##### Expansion of the retail market

After difficult years as a result of the pandemic, the retail sector is beginning to see more activity. We're seeing shopping centers with more occupied stores, lines of people shopping, and new brands are arriving in Mexico. The balance between online and physical commerce has been consolidated.

Accumin and IESE prove the link between energy efficiency and home value in Spain

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The housing energy rating (CEV) will be a requirement for new homes in Chile

Starting October 5, 2025, the Housing Energy Rating (CEV) will be mandatory for new construction, as decreed by the Ministry of Housing and Urban Development (MINVU). Applications for building permits or preliminary projects must include this certification for approval.

According to Felipe García, director of Tinsa by Accumin South Latam, this is an opportunity for new homes to distinguish themselves as more attractive and sustainable alternatives. “In the short term, there may be necessary adjustments to construction processes, but in the long term, the CEV will strengthen the real estate market, especially benefiting young buyers interested in sustainability and energy savings,” he explained.

Experience in other countries, such as Spain, supports this initiative, as homes with better energy ratings have gained preference thanks to their lower long-term operating costs.
However, it is not without challenges. Construction costs may initially increase, particularly in the affordable housing segment. “This could be reflected in an increase in the final price, although it represents an investment toward a more competitive and sustainable market,” García said


Troostwijk Index 2025 (NL)

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At Troostwijk, our annual index figures provide a forecast of expected cost increases for the coming year. These figures are based on anticipated changes in wage costs and the price trends of raw materials and goods. Once released, these predictions are fixed and will not change. However, if the actual price developments differ from our forecast, we will make automatic adjustments in the following year to balance any discrepancies.

The Troostwijk indexes reflect the long-term structural development of costs, filtering out cyclical fluctuations and the price spikes or drops influenced by geopolitical events as much as possible.


| **Annual predictions for 2024-2025** | **2024** | **2024** | **%** |
| --- | --- | --- | --- |
| Commercial and office buildings | 130.0 | 138.2 | +6.3% |
| Homes | 128.7 | 135.1 | +5.0% |
| Company inventory | 126.8 | 131.5 | +3.7% |

_2019 = 100_

###### **General Developments**

While 2024 was less turbulent than the previous two years, we still saw fluctuations in raw material markets. Prices surged in the first half of the year, only to decrease in the second half. Disappointing economic news from major global economies such as China and Europe added pressure on prices. In the Netherlands, a moderately performing economy and high interest rates contributed to a decline in construction and industrial production, particularly in the first half of 2024. This decline puts additional strain on prices for locally produced materials and goods.

Industrial production in the Netherlands has been under pressure since mid-2022, partly due to a slowdown in the German economy, one of the country’s key markets.

###### Wages and Cost increase

In 2024, higher wages played a significant role in the increase in construction costs and the production costs of inventory. For example, the construction sector saw an additional 7% wage increase, along with a fixed bonus of €150 for all employees. A similar trend was observed in the metal sector, a key indicator for inventory.

The metal sector's labour agreements are longer-term, with wages set to increase gradually by 9% between June 1, 2024, and December 31, 2025. Similarly, the Metal and Technology sectors will see a 10% wage increase, alongside a fixed bonus of €100, from April 1, 2024, to February 1, 2026.

For 2025, we expect construction and production costs to rise once again, driven by increasing wages. However, the outlook for 2025 is more optimistic, with improved economic prospects (GDP growth of +1.5%) and falling interest rates, which are expected to stimulate investment in both construction and industrial production. Prices for materials and raw materials are expected to stabilise or increase, reflecting long-term trends.

###### Energy, raw materials and materials

Energy prices continued to decrease throughout 2024, although they remained significantly higher than the levels seen in 2021. For example, natural gas prices were still over 60% higher in 2024 compared to 2021, and electricity prices remained approximately 80% higher. However, slight upward pressure on energy prices returned in the second half of 2024. Looking ahead, we expect energy prices to remain structurally higher compared to 2021.

Crude steel prices have been under pressure for some time, falling by around 15% in 2024. The decrease in global demand, particularly in construction and parts of the industry, has contributed to this trend. The lowest steel prices in eight years were recorded by the end of 2024. However, metals like aluminium and copper saw price increases in 2024. We expect metal prices to stabilize in 2025, with potential slight increases if global economic growth surpasses expectations.

Oil prices peaked above $90 in the first half of 2024 before dropping back to $75, largely due to decreased demand and the absence of production restrictions from oil-producing countries. The current geopolitical situation in the Middle East (e.g., the Israel-Gaza-Lebanon-Iran conflict) introduces significant uncertainty in oil price predictions, with the potential for volatility.

In terms of building materials, 2024 saw a mixed picture. Materials like wood, where international competition plays a significant role, continued to see price declines that began in late 2023. On the other hand, materials produced primarily in the Netherlands, such as concrete and cement, stabilized in 2024 after sharp increases in 2023.

Finished and semi-finished steel products showed a downward trend in 2024, and this was also the case for concrete and cement. The fall in energy prices helped reduce costs for these products. As energy prices stabilise and labour costs continue to rise, we expect a stable to slightly higher pricing trend for 2025. The demand for building materials may increase slightly as construction activity picks up, leading to a moderate rise in material prices.

###### Wage costs

In 2025, wage growth will continue to outpace inflation. The construction and infrastructure sector has requested a 7% wage increase, and this will likely apply across other sectors as well. The wage agreements for Metalektro and Metal & Technology will remain in effect for 2025, with significant increases still expected. However, the pace of wage growth is expected to moderate in 2025, with an average wage increase of around 4% across the Netherlands.

For our index calculations, we have assumed a 7% wage increase in the construction sector and a 5% wage increase for other industries. As new wage agreements are confirmed, we will update our quarterly index figures.

###### Uncertainty

Geopolitical developments, government policies, and climate change continue to introduce uncertainty in 2025. The outcome of the U.S. presidential election is one key factor to watch. With the possibility of a second term for President Trump, concerns in Europe about his protectionist policies and the risk of new tariffs could influence prices, potentially creating additional cost pressures.

Trade conflicts, particularly between China and the West, continue to affect specific raw material markets. Additionally, the ongoing conflict between Russia and Ukraine remains a factor in energy pricing, especially regarding gas. Tensions in the Middle East could also lead to significant fluctuations in oil prices.

The Dutch government’s housing policies, aimed at stimulating construction, could increase the demand for building materials and labour, potentially driving up costs. Meanwhile, efforts to limit CO2 emissions may lead to higher production costs for the industry. On the positive side, investments in sustainable infrastructure could help lower costs over the long term.
Lastly, extreme weather events linked to climate change, such as floods, droughts, and hurricanes, could disrupt raw material production and supply chains, creating short-term price volatility.

###### Troostwijk quarterly index figures – Forecast 2025

To get a better picture of the actual price development, we advise you to follow our quarterly figures. We also point out that the index figures are general indexes and not specifically aimed at one type of real estate or sector. It is therefore wise to continue to follow price developments in (specific) submarkets. If you have any doubts about the value development, you can of course always contact Troostwijk Taxaties.

**Forecast quarterly index figures 2025**


| | **2024 – IV*** | **2025 – I** | **2025 – II** | **2025 – III** | **2025 – IV** |
| --- | --- | --- | --- | --- | --- |
| Commercial and office buildings | 131.8 | 133.7 | 135.0 | 137.0 | 138.2 |
| Homes | 128.9 | 131.3 | 132.1 | 134.3 | 135.1 |
| Company inventory | 128.3 | 129.6 | 130.5 | 130.9 | 131.5 |

'* final
Quarter IV 2019 = 100

_The Troostwijk quarterly index figures appear every quarter in the month preceding the new quarter for subscribers to the Index newsletter. And are placed online on the first working day of each quarter._

[Link to the original article in Dutch](https://www.troostwijk.nl/nieuws/troostwijk-index-2025/) 




New General Managers of Tinsa by Accumin in Costa Rica and Peru

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Tinsa IMIE Spain local markets Q4 2024 

The IMIE Local Markets statistics show the evolution of the unit market value of housing in each of the Autonomous Communities, provinces and capitals of Spain, based on the appraisals of finished free market housing carried out by the company in the period analyzed.

The appraisals of new and used housing carried out by Tinsa by Accumin reflect an acceleration in the increase of prices in the last quarter of the year. According to the IMIE Local Markets 4Q 2024 statistics, published today, the average value of housing increased by 2.2% quarter-on-quarter and 4.4% year-on-year.


Tinsa IMIE Spain local markets Q3 2024 

The Tinsa IMIE Local Markets statistics for the third quarter of the year reveal a scenario of certain dynamism in prices compared to the stabilization of previous quarters. The average price of new and used housing in Spain rose by 3.1% year-on-year, to 1,804 €/m2, and by 1.3% quarter-on-quarter, which maintains the momentum at levels close to the evolution of inflation.

Tinsa Mexico by Accumin launches a virtual IA assistant on its data platform 

Tinsa Mexico by Accumin lanza un asistente virtual con IA en su plataforma de datos

Tinsa Mexico by Accumin has launched a new artificial intelligence assistant, freely accessible and based on an advanced language model, which allows written interaction with the company's data platform to obtain information about the local property market in a more direct and simple way.

We are immersed in an environment where data is relevant for decision-making, but it is not only important to collect it, but it is also important to process it, generate it properly and deliver it through different tools. This is why our digital ecosystem is made up of tools that offer different levels of value," continues Orozco de la Fuente.

The AI assistant allows consumers, researchers, analysts and professionals in the real estate sector to have a written dialogue with the platform and directly consult data of interest to the real estate market, such as returns in certain areas of the country and historical trends, among others.

In the first phase, the AI assistant will provide information focused on new construction activity, compiled quarterly for the cities of Mexico City, Monterrey, Guadalajara, Querétaro, Cancun, Playa del Carmen and Tulum.



Deyde DataCentric obtains the most prestigious certification in data protection: ISO 27701

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Tinsa IMIE Spain local markets Q2 2024

Residential prices rebound slightly in the second quarter within an environment of stabilization. The Tinsa IMIE Local Markets statistics for the second quarter put the increase in the average value of new and used housing in Spain at 0.5% quarter-on-quarter, compared to the 0.1% recorded in the previous quarter. Year-on-year growth remains moderate at 3.1%.

Inisghts & Publications

@Accumin2025