The recent inquiries on properties on Spain have reached record numbers. According to a report from propertywire.com, prices though continue to decline but due to the increased interest, property values in select areas may recover soon.
According to Kyero, the Spanish property portal, the recent quarter was the busiest on record. The site has about 200,000 listed properties and 3,000 accredited property agents and the busiest segment of their market was in the €50,000 to €100,000 price range.
The most popular ones, according to the site, were in the Spanish coastal areas. The general profile of the purchasers is often families seeking to have a second home for the holidays with easy access to beaches. The most popular area is in Alicante, Costa Blanca with 31 percent of all enquiries focused in the area. Malaga came in at second with 15 percent of all enquires done in the Spanish market.
This observation was further expanded by a report on propertyshowrooms.com, which said that both revenue inflows from international sources as well as buyers of Spanish real estate are at record highs. The report quoted the recent pronouncement of CBRE Spain, where the firm calculated that of the €10.2 billion invested in commercial real estate in Spain through 2014, about half came from foreign funding sources. Another €2.5 billion came from real estate investors traded like stocks in the shares market, called Socimis. These funding sources to purchase the shares are largely coming from foreign funders.
According to a report from yourmortgage.co.uk, Spanish property prices had increased by 2.65 percent in the first three months of 2015. This was confirmed by data from the Property Registrar's Association in Spain. Total sales stood at 90,534 units, which is a 9.04 percent increase from the same period in 2014. Despite the good news, property values are still 31 percent below their peak levels.
