Press Releases and Media Information for Kyero.com

It might not surprise you to know that Barcelona is the most expensive place to buy property in Spain, but what about the cheapest? The place to snap up a bargain is in the little-known Andalucian province of Jaen. In the "Big Picture" monthly report carried out by the leading Spanish property portal - Kyero.com - the average price of a property for sale in Jaen was almost seven times cheaper than Barcelona.

Over 49,000 properties were sampled and the national average property price came out at €240,000. Barcelona, along with Ibiza and Mallorca, were the only places to top the half a million euro mark, compared to a mere €77,000 for Jaen, 68% below the national average.

So what makes Jaen so cheap? Is it a culture-free dust bowl? Does the province have unseasonably bad weather? Is it a concrete enclaved inhospitable, modern town?

The answers are all "no". The city of Jaen, situated 92km (57 miles) north of Granada, has been inhabited since 600,000 BC (by the Flintstone-esque "Pebble" Culture!). It boasts a Moorish castle, 11th century Arab baths and a 16th century cathedral and palace amongst its points of interest, and the thriving university adds a youthful element to this historically important area.

The weather, as with the rest of Andalucia, is mild and has contributed to the economic success of Jaen's major asset - olives. Jaen is the world's leading producer of olives and olive oil, producing about 10% of the world's olive oil. The crop occupies 77% of the land and the oil is manufactured by around 55 oil mills. The region also boasts numerous national parks and nature reserves, including the Sierras de Cazorla nature park, arguably one of the most beautiful nature parks in Andalucia.

Since the beginning of 2006 Jaen has found itself in demand from property purchasers seeking a slice of "real Spain" and even featured on the popular TV programme, A Place in the Sun in May. The town of Alcala la Real, just 25 minutes drive from Granada, is the province's main property hotspot. With a population of just over 21,000, there are plenty of amenities, such as schools, restaurants, bars, doctors and swimming pools as well as striking scenery and a friendly local community. Some properties in the region have experienced price appreciation of up to 60 per cent in recent months and demand has recently intensified.

The region of Andalucia itself attracts Spain's largest number of tourists, receiving 14 per cent of the country's 50 million foreign visitors every year. The rural tourism market is up and coming and Jaen accounts for 7 per cent of Andalucia's tourists, with 490,000 visitors every year. This has led to an increasing demand for rental accommodation not only from foreign holiday makers but also Spanish nationals, especially from Madrid, seeking a rural holiday.

So what's wrong with the place that makes it so inexpensive to buy? Well because it's inland, there are no beaches. Swimming pools - yes, sand and wet wavy stuff - no. It also doesn't have an international airport. However, Granada is only 90 minutes drive away from the city of Jaen and both Ryan Air and Iberia fly from the UK to Granada from about €100 return. And don't forget for all ski lovers, that the Sierra Nevada mountain range is just outside Granada, so within day trip reach.

I was interviewed recently by Adam Samuel of Nubricks - an Off Plan Property Blog.

I told Adam about the origins of Kyero.com, my personal experiences of buying property in Spain and my opinions about the Spanish property market in general.

Adam recorded the interview and you can listen to it as a podcast (a sound file that you download and listen to on your MP3 player or computer).

If you have a spare half-hour, visit Nubricks and hear Adam and me chatting.

Martin Dell, Kyero.com