Alicante gains, Granada loses to Almeria
July 1st, 2010
According to the latest analysis from Kyero.com, foreign buyers are increasingly looking for bargain properties and are focusing their property searches in Spain’s best-known provinces.
Published on July 1st 2010, the latest Kyero.com enquiry report analyses 130,000 enquiries made by email through the site during the first half of 2010.
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 10 previous issues, they can also access in-depth buyer trends dating back to 2004.
A three page overview of the latest report comparing 2009 and 2010 is available as a free download.
Alicante gains market share
Alicante province has steadily increased in popularity over the years – now attracting over one-third of attention from foreign buyers visiting Kyero.com.
The share of Malaga province has declined slightly to 13% of visitor attention, but it still manages to hold on to second place. Meanwhile, Granada provinces has lost its third place crown to up-and-coming Almeria.
In all likelihood, this trend of popularity is a reflection of buyers finding property bargains in the provinces where there are the most properties available. These top-five provinces are likely to offer buyers the biggest discounts, and better bargains.
| Top-5 share of enquiries by Spanish province | ||||||||
|---|---|---|---|---|---|---|---|---|
| Rank | 2010 | 2009 | 2008 | 2007 | ||||
| 1. | Alicante | 33.8% | Alicante | 28.7% | Alicante | 24.3% | Alicante | 17.4% |
| 2. | Malaga | 13.2% | Malaga | 14.4% | Malaga | 13.2% | Granada | 16.4% |
| 3. | Almeria | 7.6% | Granada | 8.8% | Granada | 11.5% | Malaga | 14.4% |
| 4. | Granada | 6.8% | Almeria | 5.7% | Tarragona | 7.6% | Almeria | 9.0% |
| 5. | Tarragona | 5.8% | Tarragona | 5.7% | Valencia | 6.1% | Valencia | 8.5% |
Price Sensitivity
The share of very cheap property, priced under €50K, has declined significantly during the last 6 months from 21% to 15% of the overall market.
Also, the very top end of the market has declined with the top three price tiers showing a slight decline in overall share.
Naturally, this means that the middle pricing tiers have shown an overall increase, with the €50-150K range up from 45% in 2009 to 47% in the first half of 2010.
| Share of enquiries by property price range | ||||||
|---|---|---|---|---|---|---|
| Price range (€000′s) | 2010 | 2009 | 2008 | 2007 | ||
| Under 50K | 15% | 21% | 18% | 21% | ||
| 50-150K | 47% | 45% | 40% | 42% | ||
| 150-250K | 21% | 21% | 23% | 21% | ||
| 250-350K | 7% | 9% | 10% | 8% | ||
| 350-500K | 4% | 5% | 5% | 5% | ||
| Over 500K | 4% | 5% | 5% | 3% | ||
More Representative
The latest Kyero.com enquiry report is more representative than ever of foreign buyer activity in the Spanish property market. Kyero.com continues to gain market share and attract more visitors than ever – even in the current ‘quieter’ Spanish property market.
Comparing the first half of 2010 to 2009, Kyero.com has boosted visitor numbers by 39%, and those making enquiries by 18%.
The number of properties viewed have increased by 35% to produce an overall increase in leads and responses of 27%.
Martin Dell, MD of Kyero.com commented: “Most commentators believe that the overall market for foreign buyers of Spanish property is shrinking. Even so, Kyero.com is delivering significantly more leads than ever to advertising estate agents.
About the Kyero.com Enquiry Report
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.
Estate agents advertising properties on Kyero.com use the site to accurately quantify buyer sentiment. With access to this detailed information, they are able to adjust their marketing campaigns to appeal to the widest possible range of buyers.
Related Posts
- Buyers Gravitate to Bargain Spanish Property
- Foreign Buyers Favour Alicante Property
- The Changing Face of the Ideal Spanish Property
