Spanish Property Price Myth

Granada, Spain - September 12th, 2005

Rather than Spanish property losing value, the first quarter of 2005 saw price rises of 4.2 per cent, and 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 the same thing at all 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."

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.

The statistics published by Kyero strongly indicate that Spanish property is still accruing in value, albeit at a slower rate compared to previous years. As Martin Dell says: "These reports enable purchasers to make better-informed decisions and also serve to demonstrate that the market remains healthy, and still offers good investment potential."

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

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.