Leading Spanish real estate portal Kyero.com’s latest report on the Increasingly in demand Spanish property market identifies the specific criteria that foreign buyers and investors are looking for in terms of holiday homes and buy-to-let properties.
The Kyero enquiry report has analysed enquiries made by potential buyers in the first quarter of 2014 and shows that between January and June 2014, 47 per cent of enquiries for properties in Spain were within the £50,000 to £150,000 price bracket, with 39.8 per cent of enquiries looking for an apartment and 33 per cent searching for a three bedroomed property.
The findings also show that by province, Alicante, situated on the Costa Blanca, is still the favourite location for foreign property buyers, accounting for over a third (35 per cent) of enquiries made on kyero.com.
According to traveldailynews.com, Marc Pritchard, Sales and Marketing Manager at Taylor Wimpey Espana said that:
“The Kyero.com report provides an interesting insight into what today’s buyers want from Spanish property. There are numerous reasons why the Costa Blanca still ranks top of the list for property buyers.
For Brits the easy to reach, reliable good weather plays a big part, swapping grey clouds for blue skies and the strength of the pound against the euro (currently at a 22 month high) means that visitors can get more for their money which has no doubt aided the increase in people snapping up attractive deals.”
He continued, “We at Taylor Wimpey Espana believe we can meet the needs of customers not only because many of our properties are located in the wonderful Costa Blanca region, but because we can deliver on property type and budget requirements as highlighted in the Kyero report.
We have seen a rise in enquiries for second homes across Spain particularly amongst Britons, Germans and Russians and these are translating into sales – with British buyers showing a 24% increase from January to June this year in comparison to 2013!”
The increase in demand along the coasts of Spain is good news for an area which has, until recently, been going through a particularly tough time. Since the crash in 2007 there has been a massive surplus of houses along the coast with little to no interest in the majority of them. Unfinished developments blot the otherwise beautiful landscape, and it is hard to go more than 100 metres without seeing a dilapidated or unfinished property.
With the increase in demand, things seem to be looking up for the region, and hopefully things will be back to normal before too long.
Ron Wilkinson, property expert at Alta Vista Property has said that he expects the increase in sales in Alicante to spread to the rest of the country before the end of this year.
“With the increase in Alicante, which has traditionally been a stronghold of foreign investment in Spanish property, we will begin to see investors branching out and purchasing more properties in other areas of the country. I fully expect that by the end of this year we see some positive movement regarding sales and prices in the Spanish market. The recession has gone on for too long and it will be good to see some life returning to the country’s market.”
Bradley Shore is an avid blogger for the UK, he likes to travel and share his experiences and thoughts, his main interest is overseas property market as you can see in his recent work for Alta Vista Property.