US interest in Spanish property surges, while UK buyers keep calm and carry on
- US visitors to Kyero.com up 75% year on year
- UK interest remains steady for now but will be hostage to Brexit negotiations
- Chiclana De La Frontera races up ranks to become 9th most popular location
The official March report from Kyero.com has, as ever, revealed some interesting insights into the Spanish property market.
The portal received 65,473 property enquiries during the month, up 19.55% year on year, while visitor numbers reached 594,917, up 41.7%.
From this wealth of data, Kyero.com reports that UK buyers remain steadfast in their love for Spanish property, despite the triggering of Article 50 towards the end of March.
“With Prime Minister May emphasizing how slow the Brexit process is going to be, with the UK being hostage to the negotiation cycle, it seems that Brits are happy to take a ‘keep calm and carry on’ approach to buying homes in Spain. Interest has slowed, but is far from going into reverse – in fact, British visitors to Kyero.com have increased by 30.2% over the past year.”
Richard Speigal, Head of Research at Spanish property portal Kyero.com
While Theresa May seems to be keeping British buyers calm, President Trump’s countrymen seem to have found a fresh desire to pick up properties in Spain.
US visitors to Kyero.com have surged, up 75.3% year on year. US buyers are now firmly in the site’s top ten list of nationalities interested in buying in Spain, as life far away from Donald Trump’s America takes on added appeal.
Meanwhile, prices across Spain are growing steadily. The median asking price across Kyero.com’s 200,000+ listed properties now stands at €244,000, an increase of 5.9% over the past year.
“When it comes to location, Gran Canaria’s Playa Del Ingles has reclaimed the top spot, knocking Torrevieja down into second place once again. Other traditional favourites like Playa De Las Americas in Tenerife and Alicante continue to rank among the most popular destinations for those buying in Spain.”
Richard Speigal, Kyero.com
The biggest mover in terms of the top ten locations is Chiclana De La Frontera in Cadiz, which shot up six places to become the ninth most popular location in March.
With a rich history of sherry production (it’s just 40 km from the sherry heartland of Jerez De La Frontera), Chiclana offers visitors easy access to the ‘real Spain’ – away from the vast hordes of tourists flocking to the beaches of the southern coastline.
As well as its own architectural and culinary charms, the town offers easy access to Cadiz (for outstanding tapas and beautiful beaches), Gibraltar, Portugal and Morocco, all of which can be reached easily in under three hours, making Chiclana De La Frontera an excellent base for those wanting to use their base in Spain for exploring other locations.
As political instability continues to rock the foundations of both the UK and the US, it will be interesting to see how this is reflected in the Spanish property market. Home to the largest British expat population in Europe and to a somewhat smaller but still sizeable population of American expats (estimates put the figures at around 300,000 and 41,000 people respectively), Spain’s second home market stands to be singularly affected by political happenings in both countries. Needless to say, the folk at Kyero.com will continue to monitor the situation closely.
For further details, visit www.kyero.com.