Brand New Spanish Property Market Confidence Index reveals divisions in the market

Brand New Spanish Property Market Confidence Index reveals divisions in the market

  • 71% of agents feel more confident in Spanish property market than 1 year ago (Kyero.com)
  • 30% of English-speaking agents see stronger sterling as most significant shift in market
  • Almeria, Fuerteventura, Gran Canaria and Murcia highlighted as inspiring confidence

The new Spanish Property Market Confidence Index (SPMCI) from leading Spanish property portal Kyero.com has identified some interesting trends in the Spanish market. The survey, covering some 160 English-speaking and 216 Spanish-speaking estate agents across Spain, reveals that on a national level 71% of agents in Spain felt more confident about Spanish property in Q1 2015 than they did compared to a year earlier. Only 4% felt less confident than a year ago.

Interestingly, English-speaking agents were more bullish about the state of the market than their Spanish counterparts. Martin Dell, Director of Kyero.com, which lists more than 200,000 homes from 3,000 estate agents, comments,

“The strength of sterling has played a key role in the confidence divide that we are seeing currently between English-speaking and Spanish-speaking real estate agents in Spain. Some 30% of English-speaking respondents have highlighted stronger sterling as the most significant change over the past 12 months.

“For Spanish-speaking agents, increased marketing tops the table of significant changes, with 26% of respondents flagging this up as the biggest change.”

The findings reveal the stark difference that currency exchange fluctuations can have on similar businesses in the same country, just due to the language that their staff speak. While English-speaking agents in Spain have been able to enjoy more confidence in the market thanks to the pound’s movements, their Spanish peers have been working flat-out on their marketing activity in order to achieve the same goal.

Interestingly, both sets of respondents reported similar figures when it came to buyer confidence, with 20% of English-speaking agents feeling that improved buyer confidence had been the most significant change over the past 12 months, compared with 21% of Spanish-speaking agents.

Four geographical areas stood out as inspiring the most confidence in agents. The first of these was Almeria where a three bedroom, two bathroom villa just minutes from the beach can be picked up for around €175,000. For a lower cost option, a four bedroom, two bathroom cortijo in need of a little TLC, but with extensive land, can be had for as little as €79,000.

Fuerteventura, the second largest of the Canary Islands, also stood out as inspiring above-average confidence in agents. Property there offers excellent value. A two bedroom, two bathroom apartment in Corralejo, for example, can be purchased for just €77,000. The property enjoys a popular town centre location, with beach access just a few minutes away.

Nearby Gran Canaria was also highlighted by respondents. The sun-kissed island offers a variety of properties ideal as both second homes and main residences, as well as some exciting ready-made business opportunities. This stunning site with three villas, pool and existing tourist licence is available for €890,000.

Back on the mainland, Murcia was the fourth area to inspire above-average confidence among agents. A two bedroom apartment with pool in Murcia (city) can be picked up for as little as €69,000. Only the regions of Granada and Tarragona recorded no improvement in confidence since 2014.

For further details on the Spanish Property Market Confidence Index 2015, Spanish property market trends and to view properties available for sale across Spain, visit www.kyero.com.