The Latest Spanish Property News from Kyero.com
July 2nd, 2009
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.
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Published on July 1st 2009, the latest Kyero.com enquiry report analyses over 100,000 enquiries made by email through the site during the first half of 2009.
A four page overview of the latest report comparing 2008 and 2009 is available as a free download.
Alicante Most Popular
Alicante province has steadily increased in popularity over the years - now attracting almost 30% of attention from foreign buyers visiting Kyero.com.
Malaga province has remained stable with a little under 15% of visitor attention, while Granada seems to be losing to both Malaga and Alicante.
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. Those kinds of markets - Alicante and Malaga in particular - are likely to offer buyers the biggest discounts, and better bargains.
| Top-5 share of enquiries by Spanish province | ||||||
|---|---|---|---|---|---|---|
| Rank | 2009 | 2008 | 2007 | |||
| 1. | Alicante | 28.7% | Alicante | 24.3% | Alicante | 17.4% |
| 2. | Malaga | 14.4% | Malaga | 13.2% | Granada | 16.4% |
| 3. | Granada | 8.8% | Granada | 11.5% | Malaga | 14.4% |
| 4. | Almeria | 5.7% | Tarragona | 7.6% | Almeria | 9.0% |
| 5. | Tarragona | 5.75% | Valencia | 6.1% | Valencia | 8.5% |
Price Sensitivity
This bargain-hunting mindset is dramatically demonstrated with properties priced under €150K attracting 65% of visitor attention - up from 58% in 2008.
At the top end, properties priced over €350K have remained relatively stable at 10% of the market, with interest in properties in the €150K to €350K slipping.
| Share of enquiries by property price range | ||||||
|---|---|---|---|---|---|---|
| Price range (€000's) | 2009 | 2008 | 2007 | |||
| Under 50K | 21% | 18% | 21% | |||
| 50-150K | 45% | 40% | 42% | |||
| 150-250K | 21% | 23% | 21% | |||
| 250-350K | 9% | 10% | 8% | |||
| 350-500K | 5% | 5% | 5% | |||
| Over 500K | 5% | 5% | 3% | |||
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.
Is any property below €50,000 a cheap Spanish property? Are cheap Spanish properties only to be found at auction or as bank repossessions? How much below market value does a Spanish property need to be to be considered cheap?
Continue reading: What IS cheap Spanish property?
