Alicante and Malaga still top investment spots
It seems investors in Spanish property are still not prepared to take a risk when it comes to choosing a location. According to research from Kyero, popular destinations Alicante and Malaga continue to be favoured by those looking to buy a home post-financial crisis. Apartments are now the biggest draw however, with 40 per cent of inquiries for property being for such units.
Alicante and the Costa Blanca came top out of Spanish destinations, accounting for 31 per cent of all enquiries. Malaga made up 15 per cent of enquiries, while Valencia and Murcia had a six per cent share each. However, investors haven't been willing to flash the cash, with most looking in the €50,000 to €150,000 price range. Nevertheless, people still want bang for their buck, with 33 per cent seeking three bedroom properties and 55 per cent wanting a swimming pool.
In a blog, Marc Pritchard, sales and marketing manager at Taylor Wimpey Espana, explained that the Kyero report provides "interesting insight" into what pushes the buttons of buyers. While tourist hotspots remain the most popular areas, the move towards apartments is a marked change. "We have seen first hand how buyer's desires have changed pre and post recession and how important it is to adapt," Mr Pritchard said.
According to Chris Mercer, director of Mercers Estate Agents, the recession has also served to sort the wheat from the chaff. "Prospective buyers know they have to raise funds in their home nation and this saves a lot of time, weeds out the dreamers and leaves us with serious clients with finance already in place." This has helped to keep foreign property activity ticking over and as countries like the UK get back on their feet, things appear to be looking up for some estate agents. For Mercers, 60 per cent of all property sales are in fact completed by Britons.
France, the Netherlands and Spain are also become more active too, accounting for 11 per cent, 11 per cent and eight per cent of all sales respectively. Across the board, Spanish property sales are definitely increasing, with Mercers predicting a 25 per cent rise during 2013.
Alicante and the Costa Blanca came top out of Spanish destinations, accounting for 31 per cent of all enquiries. Malaga made up 15 per cent of enquiries, while Valencia and Murcia had a six per cent share each. However, investors haven't been willing to flash the cash, with most looking in the €50,000 to €150,000 price range. Nevertheless, people still want bang for their buck, with 33 per cent seeking three bedroom properties and 55 per cent wanting a swimming pool.
In a blog, Marc Pritchard, sales and marketing manager at Taylor Wimpey Espana, explained that the Kyero report provides "interesting insight" into what pushes the buttons of buyers. While tourist hotspots remain the most popular areas, the move towards apartments is a marked change. "We have seen first hand how buyer's desires have changed pre and post recession and how important it is to adapt," Mr Pritchard said.
According to Chris Mercer, director of Mercers Estate Agents, the recession has also served to sort the wheat from the chaff. "Prospective buyers know they have to raise funds in their home nation and this saves a lot of time, weeds out the dreamers and leaves us with serious clients with finance already in place." This has helped to keep foreign property activity ticking over and as countries like the UK get back on their feet, things appear to be looking up for some estate agents. For Mercers, 60 per cent of all property sales are in fact completed by Britons.
France, the Netherlands and Spain are also become more active too, accounting for 11 per cent, 11 per cent and eight per cent of all sales respectively. Across the board, Spanish property sales are definitely increasing, with Mercers predicting a 25 per cent rise during 2013.
PUBLISHED : 30TH JULY 2013
