Overseas buyers start 2017 in buoyant mood

January sets the pace for the Spanish real estate calendar, and this one started well.

The New Year is a strange time for a property portal.

The Santa Effect leaves very little for realtors to talk about in December. Then almost on the stroke of midnight of January 1st, we are jolted by a traffic surge as buyers emerge from the festivities to resume their property hunt.

January is the third busiest month of Kyero’s year (the peaks are in July/August when buyers visit Spain) and we treat our performance now with great seriousness. It’s a signal of what’s to come.

Buyer enquiries up 36%

Kyero grew strongly in 2016, delivering over 60,000 leads for our agents, and the good news is this has continued. Total leads grew 36% year-on-year to 61,680 in January 2017, and traffic also hit an all time record at 1.1 million visits.

Visits by country, January 2017

Primary demand from foreign buyers (as ever) is still overwhelmingly for coastal villas and apartments, with 2/3rds of enquiries in the €50k – €250k price range.

Brits remain the single largest nationality, making up 29% of Kyero’s total traffic but percentage growth from other nationalities is notably stronger. (If January is a signal, Belgian buyers seem to be getting particularly excited about Spain.)

Prices steady

Average asking prices continue to bobble around the €245,000 mark, although on an annual trend they have now risen 6.9% over the last year.

However there are continued currency and political uncertainties, and this year won’t be free of headwinds. We are expecting price growth to slow to the 3-4% range over the coming months – a sensible pace.

# Province / Island Avg. price Annual trend
1 Ibiza €1,150,000 27.20%
2 Gran Canaria €227,000 12.80%
3 Cadiz €269,000 8.90%
4 Mallorca €491,000 8.70%
5 Tenerife €250,000 8.00%
6 Lanzarote €290,000 5.90%
7 Malaga €299,000 4.10%
8 Alicante €215,000 4.00%
9 Murcia €139,900 2.60%
10 Valencia €165,000 1.30%
11 Gerona €380,000 1.10%
12 Barcelona €645,000 0.20%
13 Almeria €129,000 1.10%
14 Granada €150,000 6.30%
15 Tarragona €142,000 13.30%

Trending destinations

The Canary Islands continued to dominate buyer hotspots in January. This is a regular pattern driven by winter sun, and highlights the link between tourism and overseas buyer enquiries.

Playa del Ingles

Hotspot: Playa del Ingles, Gran Canaria – €175,000

The focus will shift back to mainland destinations as the year progresses, but keep an eye on the Canaries; there are lots of good numbers here right now, particularly in Tenerife. We expect it to be a busy market in 2017.

# Change Location Province/Island Avg. price
1 Playa Del Ingles Gran Canaria €175,000
2 Torrevieja Alicante €119,000
3 ▲3 Puerto Rico Gran Canaria €139,000
4 ▲3 Playa De Las Americas Tenerife €265,000
5 Alicante Alicante €144,625
6 ▲4 La Marina Alicante €142,000
7 ▼4 Corralejo Fuerteventura €168,000
8 ▲1 Playa Blanca (Yaiza) Lanzarote €279,000
9 ▲6 Costa Del Silencio Tenerife €129,000
10 ▲4 Chiclana De La Frontera Cadiz €199,000
11 ▼3 Valencia Valencia €227,500
12 ▼1 Maspalomas Gran Canaria €295,000
13 ▲4 Denia Alicante €249,000
14 ▼2 Playa De Los Cristianos Tenerife €220,000
15 NEW Palma De Mallorca Mallorca €499,000
16 NEW Lliria Valencia €110,000
17 NEW Santa Pola Alicante €159,500
18 NEW Las Palmas Gran Canaria €220,000
19 NEW Oliva Valencia €130,000
20 ▼1 Ibiza Ibiza €950,000

Download the Kyero Spanish Property Report, Jan 2017 (PDF, 139Kb)

Photo credit: El Coleccionista de Instantes

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