Press Releases and Media Information for Kyero.com
July 7th, 2008
According to the latest analysis from Kyero.com, the Spanish property most likely to attract the attention of a foreign buyer is a 3-bed country house, with no swimming pool in Alicante province, priced under €150,000.
Far from a pipe-dream, such properties do exist.
Published on July 4th, 2008, the latest Kyero.com enquiry report analyses over 130,000 enquiries made by email through the site during the first half of 2008.
Estate agents advertising on Kyero.com can access the full 30-page report providing a province-by-province breakdown of Spanish properties of most interest to foreign buyers. With the benefit of the information contained in 8 previous issues, they can also access in-depth buyer trends dating back to 2004.
A single page overview of the latest report is available as a free download.
Aside from Alicante, provinces faring well in terms of enquiry numbers are the traditional favourites of Malaga, Granada and Tarragona, attracting 14.3%, 11.8% and 7% of enquiries respectively.
The provinces of Murcia, Almeria and Valencia were closely matched with 6.8%, 6.5% and 6.3% of enquiries respectively. Overall, just seven provinces attracted almost three-quarters of interest from foreign buyers with the remainder shared between 40 other Spanish provinces.
Kyero.com MD, Martin Dell commented "The criteria of foreign buyers differs significantly from that of Spanish property buyers. Unsurprisingly, Spanish buyers favour big cities such as Madrid and Barcelona, yet the majority of foreign buyers are more interested in traditional inland property or a beachfront lifestyle."
Comparing the latest enquiry report with previous issues, Alicante province ranks consistently as the most popular province since 2006, with Granada and Malaga jockeying for second position.
In the last three years, Alicante province is the only one of the top-5 to have increased its share of enquiries from 18.2% in 2006 to 20.9% in 2008. Each of the other contenders has lost share - to Alicante and to other, less familiar areas of Spain.
| Top-5 share of enquiries by Spanish province | ||||||
|---|---|---|---|---|---|---|
| Rank | 2008 | 2007 | 2006 | |||
| 1. | Alicante | 20.9% | Alicante | 17.4% | Alicante | 18.2% |
| 2. | Malaga | 14.3% | Granada | 16.4% | Granada | 17.4% |
| 3. | Granada | 11.8% | Malaga | 14.4% | Malaga | 16.2% |
| 4. | Tarragona | 7.0% | Almeria | 9.0% | Almeria | 7.9% |
| 5. | Murcia | 6.8% | Valencia | 8.5% | Tarragona | 7.5% |
The good news for estate agents is that foreigners are increasingly interested in buying more expensive properties. Since 2006, the proportion of enquiries for properties over €500,000 has quadrupled - now standing at 4% of all enquiries made.
The trend at the other end of the price spectrum has also changed dramatically. In 2006, 28% of enquiries were made about properties priced under €50,000. In 2008, that percentage decreased to just 18%.
The most popular price range of €50,000 to €150,000 attracted a steady 40% of total enquiries each year but the higher price ranges all increased their share of enquiries over time.
| Share of enquiries by property price range | ||||||
|---|---|---|---|---|---|---|
| Price range (€000's) | 2008 | 2007 | 2006 | |||
| Under 50K | 18% | 21% | 28% | |||
| 50-150K | 40% | 42% | 40% | |||
| 150-250K | 23% | 21% | 20% | |||
| 250-350K | 10% | 8% | 7% | |||
| 350-500K | 5% | 5% | 4% | |||
| Over 500K | 4% | 3% | 1% | |||
The Kyero.com enquiry report is published bi-annually to analyse the trends in buyer behaviour and interest regarding Spanish property for sale. It excludes enquiries made about leasehold, fractional-ownership and rental properties.
Martin Dell of Kyero.com comments "One trend this report doesn't highlight is the increasing interest from foreigners in long term rental property in Spain."
"In 2004, enquiries about long-term rentals accounted for just 11% of the total - now they account for almost 20%. In one of the few property markets in Spain where demand outstrips supply, savvy estate agents are using long term rental properties to supplement their property sales businesses."
Winner of the 2008 & 2007 CNBC award for Best Property Portal Spain and 2007 Best International Property Portal, Kyero.com is the leading web site connecting buyers and sellers of Spanish property. Featuring 100,000 properties from 1,500 estate agents, Kyero.com is privately owned and based in southern Spain.
Kyero.com was the first dedicated Spanish property portal to join the Association of International Property Professionals (AIPP), a consumer association setting standards and protecting buyers of overseas property.
Each quarter Kyero.com collates pricing information from thousands of properties to produce the Spanish House Price Index
