18,000 Norweigians targeting Spanish property
July 12th, 2010
In an article entitled “Property Bargains in Spain”, Kyero.com was interviewed for the Norwegian Business Daily.
Managing Director, Martin Dell was quoted as saying:
Advertising on Kyero.com has been increasing since October last year, and this is usually a
leading indicator that the market is improving. For good quality homes, we are near or at the bottom of the market.
It is important to distinguish between good and poor quality homes in Spain. An enormous number of new holiday homes are now empty in Spain. A large portion of these properties will never be purchased, or they may be used as social housing in the future. It is more useful to look at the market for good quality holiday homes. In this market, I believe that prices have fallen by 15 to 20 percent from the top, while the worst of the worst have fallen by 40 to 50 percent.
As a result of this interview with the Norwegian Business Daily, Kyero.com has researched and published a new analysis of all the leading sources of house price information in Spain.
It supports that the market is at or near the bottom of the current cycle and that, on average, house prices have slipped by approximately 20% from their 2007 peak.
