Price Guides help you understand the Spanish Property Market
April 4th, 2006
In a world where property prices are moving rapidly, it’s vital to have some means of accessing and digesting those movements. Kyero.com’s Price Guides have been analysing the Spanish property market for the past 12 months.
There are more than 400 agents advertising over 60,000 properties on the database, with properties located throughout Spain. What Kyero.com has done is to organise these by province and then by town to show how prices of 1,2,3,4, and 5 bedroom properties compare against the national average.
Not only are you able to look at prices within specific provinces as against the national average, but because of this valuable historical data, you can actually follow the trend of these price movements over time.
What Kyero.com discovered when analysing the past 12 months, for instance, was that average prices in Barcelona had shifted from 530,000 Euros in October 2005 to the latest figures of 600,000 Euros in April 2006. Compare these against the national average and you’ll see how property prices in this amazing city outstrip the rest of Spain by more than 140 percent!
Download the Kyero.com Price Guides for more insight into the areas of Spain that interest you most.
Catalonia needs 359,000 more flats to fill demand
abc reported this week that a study has been undertaken by strategic consultants on behalf of the Catalonian Government’s Department of the Environment and Housing. It has been estimated that some 308,000 existing flats and 51,000 newly constructed flats will be necessary this year in order to satisfy the potential demand calculated at 410,000 units.
The study confirms the progressive rise of properties in the area and the accompanying challenge for Catalonians to pay off their homes. Whilst in 2000 the average spend of Catalans on their homes represented some 23.5% of total income, in 2002 this grew to 30.6% and by 2005 the average spend had risen to approximately 33.5% of income.
The property market won’t follow the technological market
The Economist covered a story about how the rapid increase in prices in the Spanish property market has caused many to fear that another bubble has been created in the prices of these assets. Nevertheless, it suggests that we need to keep in mind that it’s unlikely that property prices will collapse as did the financial markets when the bottom fell out of the technological companies. The price of properties tends to stabilize or slow down gradually once a crucial point is reached, rather than dropping dramatically.
Related Posts
- 2006 Spanish Property Price Guides Now Available
- Spanish Property Market 2005
- Making sense of Spanish property prices
