Spanish Property Price Myth

(2005-09-12) Kyero Media S.L.

In the wake of numerous reports to the contrary, foreign interest in Spain is as strong as ever, and claims that the market is experiencing a price crash are exaggerated. This is the conclusion of a recent publication by Kyero, which also finds that property prices continue to increase in many regions of Spain.

Despite claims that Spanish property is losing value, the first quarter of 2005 saw price rises of 4.2 per cent, with appreciation of approximately 25 to 30 per cent in certain areas (source: Spanish Red Guide 2006). This is supported by recent figures published by the largest independent Spanish property portal, Kyero, which indicate that Spain continues to be a growing market.

Martin Dell, Managing Director of Kyero, believes that recent claims of a price crash are inaccurate: "My impression is that it's primarily properties at the very top end of the market that are experiencing slight price erosion, most notably in some of Spain's more developed areas. That's not quite the same thing as a general slump in the price of all Spanish property."

The statistics compiled by Kyero support the case for there being little evidence of a general price decline. While the Costa Blanca has seen prices for a four-bedroom property decrease by 5.8 per cent to 356,000 Euros since June 2005, prices in the Costa del Sol have remained constant. Canary Island properties have seen increases of 60,000 Euros, or 14.9 per cent, for four-bedroom homes.

Similarly, prices in Spain's less-developed regions remain steady, and have risen in many instances. The price of a two-bedroom property in Tarragona has increased by 18.7 per cent from 150,000 Euros to 178,000 Euros. Similarly, a two-bed property in the up-and-coming Costa del Azahar has appreciated by 30,000 Euros (20.3 per cent) since June. Martin Dell says: "Buyers are always looking outside of the more developed areas in search of a bargain, and it is in these areas that significant growth in property prices is evident. Even so, prices in the old favourites remain steady."

Kyero's aim is to assist buyers to understand the market before they invest. They're independent of any estate agency or construction company, which means they provide objective information on the market in general. Kyero have compiled a detailed statistical summary of Spanish property price trends, covering one to five bedroom properties across all of the popular regions. "We recommend that purchasers download these free reports and use it as part of their property research toolkit", says Martin.

As well as providing free downloads of the price reports, Kyero's website also details almost 60,000 properties for sale and to rent from 400 agents throughout Spain. Each time they display a property, Kyero also show a number of average price calculations to enable the visitor to make a quick and easy price check.

What do current price trends mean for investors? Essentially, Spanish property is still accruing in value, albeit at a slower rate compared to previous years. The statistics published by Kyero strongly indicate this to be the case, and offer objective and trustworthy cross-region comparisons. As Martin Dell says: "These reports enable purchasers to make better-informed decisions that benefit both themselves and the Spanish property market in general. Purchasers viewing them will see that the market remains healthy, and still offers good investment potential."

More Information
Visit the Kyero web site for free download of the price guides and price trend reports.

About Kyero
Designed to service the needs of English-speaking property seekers, Kyero is the largest collection of thousands of Spanish properties for sale and to rent from hundreds of independent estate agents throughout Spain.

Buyers and renters use the free Kyero service as a research tool to understand market pricing and perform comparison shopping between properties and estate agents. When ready to take the next step, Kyero facilitates them making direct contact with an estate agent.

Estate agents advertise their properties on Kyero to gain access to the thousands of potential buyers and renters that visit kyero.com. They also gain instant Internet visibility at a fraction of the cost of attempting the same themselves. They describe the Kyero service as effective, affordable, easy to use and measurable.


###

Kyero Media S.L.
Apdo 604
18690 Almunecar
Granada, Spain

email info@kyero.com
web http://www.kyero.com
tel +34 958 881 429
fax +34 940 461 687