There’s Still Life in the Spanish Property Market!

There’s still life in the old dog yet – or in other words there’s still life in the Spanish property market yet - well, that’s according to the latest official data published by Kyero.com which lists over 800,000 homes from in excess of 600 agents across the whole of Spain and which therefore has its finger very much on the Spanish property market pulse.

According to the Kyero.com figures and findings there hasn’t even been a correction let alone a crash following on from the stock market slide earlier this year that many felt heralded the demise of the property market in Spain.  This is all good news for those with properties that they wish to sell or profit from of course - but there’s even good news for those who have yet to buy according to the statistics!

Indeed, if you haven’t yet bought Spanish property and are looking for well priced real estate - whether for investment, retirement or personal enjoyment purposes - you could consider Seville for example which has median prices almost 30% below the national norm but which has seen impressive gains month on month in the region of EUR 20,000.

Seville’s property market is benefiting from increased visitor numbers thanks to an accessibility increase from cheap flight operators now servicing the greater Seville area.  Naturally more visitors means greater potential for profitability from letting well located accommodation – and it also translates into an increasing demand for second homes from overseas buyers who fall in love with this part of Spain when they visit it.

If this part of Southern Spain doesn’t appeal to you though and you want a tried and tested market then what about the Canary Islands?  Year round sunshine guaranteed and property prices up to 74% cheaper than in the Balearics…you can’t say fairer than that!

In terms of what other property markets are doing in Spain only Alicante has really seen a curtailing of price rises with average property prices now remaining static at about EUR 250,000…which is in fact the national means average as well.  If you own property in Malaga you will have benefited from about a 1.5% increase in the underlying value of your home since the stock market slump and elsewhere there are positive movements in the real estate markets in the employment hubs of Spain.

So as you can see – despite the doom and gloom merchants’ predictions there’s still life in the Spanish property market because there is still demand, and as long as demand exists and affordability remains there will be ongoing reasons for investing in Spanish property.

Please note, if you are thinking of buying and you require a mortgage you can get a free Spanish mortgage quotation from Barclays that will give you an indication of how much you can borrow to secure that dream home in the sun.