Press Releases and Media Information for Kyero.com

Murcia, one of the few autonomous communities of Spain consisting of a single province, is looking ahead to a prosperous 2008 as the latest data reveals that property prices rose nearly 4% in 2007 and tourism increased by 18%.

Figures from the Ministry of Tourism and Commerce show that Murcia has far exceeded the national average increase of visitors to Spain (2.1%) with passenger traffic up by 23% to nearly 2 million at San Javier airport and 20% more cruise liners making Cartagena a port of call. Not only were visitor numbers up but tourist spending also saw a significant increase of 30%.

Murcia, located on the south eastern coast of Spain and home to the Costa Calida, has long been popular with Britons who enjoy an average annual temperature of 18°C, low rainfall and a varied landscape from the mountains inland to the largest salt water lake in Europe, the Mar Menor, all available under 2.5 hours flying time direct from the UK.

According to the Spanish Ministry of Housing (MVIV), Murcia is the third most popular province (after Alicante and Malaga) in which foreigners buy property; 20% of properties sold in Murcia in Q1 2007 were to foreigners.

Data from award winning Spanish property portal Kyero.com, reveals that average property prices in Murcia have continued to rise year on year. Whilst always remaining below the national average, 2005 saw an average price of €197,488, rising 4% to €203,568 in 2006 and 4% again in 2007 to €211,250. The very latest independent figures from Kyero.com show an average asking price of €212,000 (Feb 08), 14% below the national average of €245,000.

Martin Dell, MD of Kyero, comments, “The steady price growth seen over the past 3 years is a positive indicator for Murcia’s future. Compared to other provinces popular with Britons seeking second properties such as Alicante and Malaga, Murcia remains an affordable option with a wide variety of product available.”

These sentiments are echoed by Mike Hamilton, Director of Casas de Lorca, a developer based in the town of Lorca, 1 hour inland from Murcia City, he comments, “Our new build villa prices in Lorca rose by an average of 6% in the last year and the average resale rose by 4%. Murcia is one of the fastest growing regions in Spain and a new international airport opening in 2009 will further drive growth with an estimated 3 million passengers visiting in the first year.”

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Apartments are the most enquired about property type on three of the four main Canary Islands, Fuerteventura, Gran Canaria and Tenerife, according to award winning Spanish property portal Kyero.com, with commercial premises being the most popular on the island of Lanzarote.

Independent data from the Kyero Enquiry Report (July – Dec 2007) reveals that nationally 3 bedroom villas without a swimming pool and under €150,000 are the most sought after properties in Spain. It appears however that certain regions of Spain attract buyers looking for something a little different.

The Canary Islands, located in the Atlantic Ocean off the north-western coast of Africa, is one such region. Popular, with north Europeans especially, as a summer and winter holiday destination, retirement hotspot and the ideal place to start a new life in the sun, the volcanic archipelago attracts around 8 million visitors annually.

Currently ranked as the 8th most popular region in which to buy property in Spain on Kyero.com, property stock varies from bungalows, apartments and town houses to duplexes, villas and fincas but it is apartments by far which prove the most sought after in the Canaries with 42% of all enquiries. On the island of Tenerife for example 59% of enquiries are for apartments with town houses and villas trailing at 7% and 5% respectively. 64% of enquiries requested properties with swimming pools and 32% requested 2 bedrooms which currently average at €221,000 (Jan 08).

These types of properties are ideal for a wide range of buyers, be they families looking for an affordable holiday home in the sun, retired couples looking to downsize and emigrate or buy-to-let investors seeking low maintenance, high demand rental opportunities.

The Canary Islands certainly do offer something for everyone and the island of Lanzarote is no exception. Data from Kyero.com reveals that commercial premises are the most sought after on Lanzarote, ahead of apartments, with 37% of all enquiries. With over 5000 expats now living on this volcanic island, opportunities to set up and run a business in Spain abound. Commercial premises available range from Indian restaurants to bars, offices, shops, hair salons, bakeries, hotels and even swimming pool bars!

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2007 was a difficult year for the Spanish property market and for the seven Canary Islands located off the north western coast of mainland Africa it was no exception.

Figures from the Ministry of Industry, Trade and Tourism reported that the Canary Islands were the only region in Spain to report a fall in tourist numbers, receiving only 7 million between Jan – Oct 2007, nearly a quarter of a million fewer than expected.

Average property prices were also affected with data from award winning Spanish property portal, Kyero.com, revealing that moderate price drops were seen on most Canary Islands apart from Tenerife which saw a respectable 7.5% increase in 2007 rising from €203,000 to €219,500.

As we move into 2008, winter sun tourism is expected to have a positive impact on this small archipelago both in terms of tourism levels and property prices. ABTA predicted in December 2007 that up to 3.5 million Britons would be spending some vacation time abroad this winter with a significant proportion choosing the Canary Islands with their warm climate and short flying time.

Looking at the latest independent data from the Kyero.com Spanish House Price Index (Jan 08) it can be seen that Lanzarote, the fourth largest island, remains the most expensive with prices averaging €312,000, 27% above the national average of €245,000.

Fuerteventura, the second largest of the islands, recorded an average price drop of 9.2% in 2007 from €247,500 to €226,750 however prices appear to have picked up with an average price of €250,000, 2% above the national average, recorded for January 2008.

For bargain hunters, Tenerife, the largest island and home to the co-capital Santa Cruz de Tenerife, has always offered property well below the national average. 2007 did indeed see a marked price increase however property still remains affordable averaging at €208,000, 15% below the national average in Jan 08.

Data for Gran Canaria, home of the other co-capital, Las Palmas, displayed a fall in average property prices of 4.8% in 2007 from €233,000 to €222,400. The latest figures from the Kyero.com Spanish House Price Index show a further decline to €198,000, 19% below the national average despite the Councillor for Tourism on Gran Canaria stating that his data showed a 1.2% growth in tourist numbers in October 2007.

Click the image to view a concise 3 page summary of the last year in the Spanish property market.

The national average property price is now €246,000. Which areas offer lower prices and which top the scale?

Who wins as the most popular province and coastline?

Find the hottest locations in Spain and the hottest properties. What's happening to inland properties? What about island living?

Where in Spain did property increase in value the most? Where did it decrease, and by how much?

The Kyero.com 2007 Spanish Property Summary answers all this and more in three pages (300KB pdf document)

Recently awarded the title of Best Property Portal Spain, Kyero.com has also been voted Best International Property Portal 2007.

Against all odds and facing fierce competition from industry heavyweights, Rightmove.co.uk and Daft.ie, plus two other country-specific portals, Kyero.com clinched the accolade at the International Property Awards Gala dinner hosted at the prestigious Bellagio hotel, Las Vegas.

Martin Dell, MD of Kyero.com commented "In all honesty, my greatest hope for Kyero.com was to be runner-up to Rightmove.co.uk or Daft.ie. Coming second or third to either of these portals would have been an honour. I was, quite literally, speechless when I heard that Kyero.com had won the category outright."

"It's a massive tribute to the Kyero.com team - from operations to sales and from programming to design - I'm delighted and honoured to have been part of this award-winning initiative."

Kyero.com will celebrate this outstanding world-class achievement with advertising estate agents and developers with a series of exciting promotions during the next few months.

Fuelled by this accolade, the Kyero.com will focus on the continued development and relentless improvement of the site and it's underlying technologies in the remainder of 2007 and beyond.

Visitors will enjoy never-seen-before search features, and more visitors speaking more languages in more countries will benefit from Kyero.com technology powering their favourite property portals.