Spanish property portal Kyero reports that most foreign buyers interested in Spanish property search for bargains along the country’s coastlines. The preferred price range sets between 50,000 and 150,000 and inquiries appear to be on the rise. The most popular locations are Mallorca, Alicante and Malaga, with Alicante taking the top slot among the three. Luxury properties are also faring better than most in Spain, particularly those situated in the Balearic Islands. The most active buyers hail from Britain, Russia, Switzerland and Scandinavia, according to the General Council of Public Notaries. For more on this continue reading the following article from Property Wire.
People looking to buy a home in Spain still favour popular locations such at Alicante, Malaga and Mallorca, research shows.
Many are looking for an apartment and almost half are looking in the €50,000 to €150,000 price range, according to Spanish property portal Kyero.
The firm’s analysis of search figures for the first half of 2012 also shows that some that 40% of inquiries for property in Alicante were for apartments compared with 40% for the whole of Spain. Some 33% of inquiries were for three bedroom properties and 55% of would be buyers wanted a property with a swimming pool.
The figures are published at a time when property agents are reporting an increase in inquires and sales. For example, Taylor Wimpey España said that it has experienced an increase of sales from 97 units in 2012 to 174 units in 2013 so far with £37 million worth of sales secured.
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‘The latest Kyero report provides an interesting insight into what buyers want from Spanish property today. We have seen first hand how buyer’s desires have changed pre and post recession and how important it is to adapt our offering to meet market demands,’ said Marc Pritchard, sales and marketing manager at Taylor Wimpey España.
‘The findings show that by province, Alicante remains the preferred location for foreign property hunters and we too have seen this geographical demand,’ he added.
While many would be buyers are looking for bargain prices, the luxury property market in parts of Spain is also doing well. Last year the Balearic Islands topped the charts for property sales over one million euros to foreign purchasers and that trend remains for the first quarter of 2013.
In 2012, 729 sales were made to foreigners, with an average price of €1,080,361, compared with just 41 in Madrid averaging €584,433.
According to statistics from Spain’s General Council of Public Notaries, buyers from Britain, Russia, Switzerland and Scandinavia were the most active in the Spanish property market in 2012 and continue to be for the first half of 2013.
The Germans have slipped down the rankings but still feature strongly amongst the top buyer nationalities in the Balearics.
‘The Balearics simply tick all the boxes luxury house hunters require such as security, privacy, good airline connectivity, excellent leisure facilities and infrastructure, alongside a restful ambiance for a wind down getaway,’ said Daniel Chavarria Waschke, managing director of Balearics Sotheby’s International Realty which has offices in Mallorca and Ibiza.
This article was republished with permission from Property Wire.