The Latest Spanish Property News from Kyero.com

The NEW kyero price report is updated and published every month to address questions like this one. You can download your free copy of the current report by clicking the link at the end of this article.

The report is categorised by number of bedrooms and Spanish province. If you want to know, for example, the average price of a three-bed property in Cadiz, you would find that information on page 3. On the same page, you also learn how many properties were used to calculate this ‘average’ and how this type of property in Cadiz compares to the ‘national average’.

What do the numbers mean and where do they come from?
The average prices in the report are generated from the advertised property prices on kyero.com. Approximately 10,000 properties are actually used to calculate the average prices because a weeding out process tidies up the data to make it more statistically relevant.

What are the numbers good for?
There are three main ways that the report can help you:

1. Understanding the price differential between properties within the same province: A two-bed apartment in Malaga costs €290K while a three-bed requires an extra €40K



2. Comparing prices between ‘similar’ locations: The price of a one-bed property only varies by 13% between the islands of the Balearics and the Canaries



3. Establishing a baseline to help when assessing the value of any particular property: If the average price of a two-bed property in Granada is €167K, why is THIS property €25K cheaper?

Despite a decade of strong performance and rising living standards, further economic reform is needed and a housing boom poses risks, an OECD report warned.

The Organisation for Economic Cooperation and Development said the Spanish economy is heading for growth of 2.7 percent this year and 3.0 percent in 2006, the OECD said.
The Spanish authorities should address high inflation and the housing market and also improve productivity and levels of education. The economy should show growth of 2.75-3.0 percent on average this year and next, exceeding the eurozone average, the OECD’s latest economic survey said.

It put specific growth in 2005 at 2.7 percent and in 2006 at 3 percent. Spaniards had lower income than the average in the eurozone but the difference has been narrowed substantially at a rate of about one percent per year and should continue to fall. However, despite a rise in living standards, the gap between income per person in Spain and in the eurozone was 13 percent in 2003.

Full story at Expatica

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?