Planning your strategy for the new year?
Wondering which nationalities you’ll receive enquiries from in the coming months? Or trying to work out the effect of endless Brexit negotiations on the Spanish housing market?
We’ve got the answers
We’ve been crunching the numbers to help you find out more about the international buyers that are using Kyero. Here’s what we’ve learned.
Are the British still buying Spanish property?
Despite the uncertainty surrounding Brexit, we’ve seen British interest in Spanish property stay remarkably stable. Numbers of enquiries from the UK have changed very little in the last three months.
In fact, unique visitors from the UK remain higher than before the referendum, with British buyers currently making up over a quarter (26.1%) of all visits to Kyero.com.
Where do the rest of Kyero’s visitors come from?
In the last three months we’ve seen 61.6% of visitors originate from the rest of Europe (excluding Spain) – that’s more than twice the UK figure. The countries they enter from are diverse, with France, the Netherlands and Germany heading up the list of numbers of unique visitors to the site. Belgium, Sweden, Italy, Ireland, Switzerland, Norway and Denmark make up the remainder of the top ten.
But while Europe accounts for the greatest number of visitors, by far the fastest growing level of interest comes from across the Atlantic. US visitor figures have shown a marked increase of 58.5% year on year.
Surely this is a market worth exploring?
How much are international buyers spending?
Thanks to this international spread of interest, housing prices in Spain have remained strong, suggesting concerns of a potential no deal Brexit impact are unfounded. Latest year-on-year figures show a 6.1% increase in asking price, led in large part by substantial increases in the popular expat destinations of Malaga and Mallorca.
The average enquiry price on Kyero.com is currently €229,000, up €28,000 from €201,000 seen in the months before the Brexit vote.
What does this mean for you?
From the data we’re seeing that, whichever way the Brexit negotiations go, there is no need to be despondent about the future. The indicators are positive: interest is strong and housing prices are rising.
British buyers are still entering the market and continue to purchase properties in popular areas, so don’t give up on them yet. Now is the time, however, to diversify your property portfolio and your marketing to attract international buyers from countries in which interest is growing.
Find out more about buyers from areas with high site visitor numbers such as France or the Netherlands to give yourself the best chance of attracting them and converting them into customers. If you don’t already, convert your listings into 13 other languages to support foreign enquiries. And learn how you can use the Kyero podcast to gain valuable insights into international purchasers from across the globe.
As we see it currently, Brexit presents more of an opportunity than a threat for agents working within the international housing market in Spain.