A three-bedroom country house in Alicante priced under €150,000 is the most popular type of property for international buyers in Spain, according to H2 2008 data released yesterday by Kyero.com.
Its analysis of email enquiries through its site found that Alicante (24.3%) was the most popular province in Spain for international buyers, followed by Malaga (13.2%), Granada (11.5%), Tarragona (7.6%), Valencia (6.1%), Almeria (5.7%) and Murcia (5.1%), with ‘others’ accounting for 26.3% of enquiries.
Overall, just seven provinces attracted almost three-quarters of interest from foreign buyers, with the remainder shared between 40 other Spanish provinces.
"The criteria of foreign buyers differs significantly from that of Spanish property buyers,” said Kyero.com MD, Martin Dell. “Unsurprisingly, Spanish buyers favour big cities such as Madrid and Barcelona, yet the majority of foreign buyers are more interested in traditional inland property or a beachfront lifestyle."
Of the 90,000 email enquiries, 68.2% were made in English, followed by Spanish (11.8%), French (7.1%), Dutch (6.6%), German (2.8%) and Danish (1.6%). Enquiries in Portuguese, Italian and Russian were very low, however, Dell put this down to the availability of the respective languages on the site late into 2008.
Comparing the latest enquiry report with previous issues, Alicante province ranks consistently as the most popular since 2006, with Granada and Malaga jockeying for second position.
In the last three years, Alicante province is the only one of the top five to have increased its share of enquiries from 18.2% in 2006 to 24.3% in 2008. Each of the other contenders has lost share - to Alicante and to other, less familiar areas of Spain.
Top-5 share of enquiries by Spanish province
Rank 2008 2007 2006
1. Alicante 24.3% Alicante 17.4% Alicante 18.2%
2. Malaga 13.2% Granada 16.4% Granada 17.4%
3. Granada 11.5% Malaga 14.4% Malaga 16.2%
4. Tarragona 7.6% Almeria 9.0% Almeria 7.9%
5. Valencia 6.1% Valencia 8.5% Tarragona 7.5%
The good news for estate agents is that foreigners are increasingly interested in buying more expensive properties. Since 2006, the proportion of enquiries for properties over €500,000 has quadrupled - now standing at 4.5% of all enquiries made.
The trend at the other end of the price spectrum has also changed significantly. In 2006, 28% of enquiries were made about properties priced under €50,000. In 2008, that percentage decreased to just 17.7%.
The most popular price range of €50,000 to €150,000 attracted a steady 40% of total enquiries each year but the higher price ranges all increased their share of enquiries over time.
Share of enquiries by property price range
Price range (€000's) 2008 2007 2006
Under 50K 18% 21% 28%
50-150K 40% 42% 40%
150-250K 23% 21% 20%
250-350K 10% 8% 7%
350-500K 5% 5% 4%
Over 500K 5% 3% 1%
Country houses (30%) once again attracted the highest level of enquiries at Kyero.com, followed by villas (24.8%), apartments (18%) and townhouses (15.9%). Three-bedroom units attracted the highest number of enquiries, with 28.5%, closely followed by two-bedroom units at 23.8%. Swimming pools were only requested by 39.5% of potential buyers.
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