Martin Dell, real estate expert and founder of the largest independent Spanish property portal Kyero.com has the evidence to prove that the Spanish real estate market is not only recovering at a sustainable pace, but that the market based out late in 2006/early in 2007.
Furthermore, Martin Dell has the figures and statistics to prove that investor and buyer interest in Spain is particularly returning to the higher grade marketplaces first, suggesting that short term speculative investment has waned but that the Spanish market is benefiting from strong demand from more affluent buyers. This bodes well for the sustainability of the market’s current growth patterns and for the longer term success of the Spanish property market as a whole.
These findings are backed up by the general consensus of opinion voiced last weekend by property experts attending a Place in the Sun Exhibition Live at Birmingham’s NEC. According to a property marketing expert that we spoke to: “talk has turned to the fact people are now buying larger, more expensive properties overseas as a long term investment choice rather than looking for potentially elusive short term gains from one bedroom apartments for example.”
The findings presented by Martin Dell to prove that the Spanish property market has based out and is now recovering are based on the independently gained statistical evidence compiled by his resource Kyero.com, this is a free and impartial resource for buyers in Spain and the source of one of the only truly independent Spanish property price index.
The statistical evidence for September 2007 shows that overall property prices in Spain have increased by 0.7% compared to two years ago…this is a strong recovery when you factor in that prices are down by 0.6% compared to last year – clearly the market has turned.
The winners in the Spanish property market race last month were the higher grade properties where there was an overall growth in underlying value of almost 6% - but the average month on month increase was 1.4% across the board. The Spanish city of Girona witnessed the most impressive monthly surge in prices topping out at 7.2% compared to the previous month – and year on year, the region of Huelva in Spain has proved the most successful in terms of overall growth seeing investors return up to 41.9% on properties purchased a year ago.
Clearly the Spanish property market is returning to strength – the fundamentals on which the market is based were never in contention, it was affordability factors that were hampering the market’s progress but these factors seem to have been positively addressed.
