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.
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.)
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|
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.
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.
|1||–||Playa Del Ingles||Gran Canaria||€175,000|
|3||▲3||Puerto Rico||Gran Canaria||€139,000|
|4||▲3||Playa De Las Americas||Tenerife||€265,000|
|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|
|14||▼2||Playa De Los Cristianos||Tenerife||€220,000|
|15||NEW||Palma De Mallorca||Mallorca||€499,000|
|18||NEW||Las Palmas||Gran Canaria||€220,000|
Download the Kyero Spanish Property Report, Jan 2017 (PDF, 139Kb)
Photo credit: El Coleccionista de Instantes
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