The Avena Index Family
The standard reference for European new-build property market measurement. Five indices capturing health, yield, liquidity, risk, and sentiment — computed daily from 1,881 tracked properties.
Last computed: 2026-04-14· Source: Avena Terminal Dataset v3
Composite measure of overall European new-build property market health.
Measures rental yield attractiveness relative to the risk-free rate.
Gauges how easily buyers can find and transact properties across the market.
Assesses structural risk factors including developer maturity and concentration.
Reflects market optimism based on scores, yield strength, and value distribution.
Per-Region Breakdown
| Region | Props | APCI | APYI | APLI | APRI | APSI |
|---|---|---|---|---|---|---|
| Costa del Sol | 757 | 32 | 27 | 58 | 0 | 41 |
| Costa Blanca South | 468 | 40 | 66 | 43 | 8 | 51 |
| Costa Calida | 255 | 34 | 47 | 30 | 12 | 47 |
| Costa Blanca North | 229 | 41 | 71 | 41 | 2 | 54 |
| Costa Blanca South - Inland | 82 | 61 | 86 | 18 | 16 | 77 |
| Costa Calida - Inland | 43 | 32 | 37 | 20 | 13 | 48 |
| Costa del Sol (Cadiz) | 24 | 34 | 28 | 12 | 15 | 47 |
| Costa Blanca North - Inland | 13 | 49 | 86 | 9 | 18 | 67 |
| Costa Tropical | 7 | 32 | 31 | 4 | 22 | 44 |
Methodology
APCI
Property Consciousness Index
Composite market health score blending value health (40%), yield health (25%), developer stability (15%), and market breadth (20%). Value health derives from average Avena scores; yield health from average gross yield scaled; developer stability from average developer track-record years; breadth from the ratio of properties scoring above 60.
APYI
Property Yield Index
Yield attractiveness relative to a 3.5% risk-free rate. Components: yield spread over risk-free (35%), proportion of properties exceeding the risk-free rate (25%), net yield strength (25%), and yield consistency measured by inverse standard deviation (15%).
APLI
Property Liquidity Index
Market liquidity from inventory depth (30%), key-ready completion ratio (25%), price diversity measured by coefficient of variation (25%), and geographic spread across unique locations (20%).
APRI
Property Risk Index
Structural risk assessment where higher values mean lower risk. Developer maturity from average years active (30%), completion safety from key-ready ratio (25%), price stability from inverse price volatility (25%), and diversification from inverse top-developer concentration (20%).
APSI
Property Sentiment Index
Market optimism gauge. Score optimism from ratio of properties above 70 (30%), yield sentiment from gross yield scaled (25%), value sentiment from ratio of below-market-priced properties (25%), and quality confidence from average quality sub-score (20%).