Making Sense of 20 Billion Euros Worth of Spanish Property

(PRLEAP.COM) Visitors to kyero.com can download the free, seven-page Price Guide categorised by number of bedrooms and Spanish province. Inside, they can discover, for example, the average price of a three-bed property in Almeria (€219K - page 5 of the report). On the same page, they also learn that this is calculated from a sample of 1,011 properties and that this size of property in Almeria is 38% less expensive than the national average. Covering all the popular Spanish provinces, the Price Guide is updated every month, making it the most current and accurate source of pricing information available.

The Price Guide report gives buyers the big picture of what’s happening in the Spanish property market. "We recommend that purchasers download this free report and use it as part of their property research toolkit", said Martin Dell, managing director of kyero.com. Additionally, specific price comparisons are displayed next to every one of the portal’s 50,000 properties. "Mostly, potential purchasers want to get a feel for property values in a specific area and understand how one area compares to another," explains Dell. "Whenever a property is displayed on kyero.com, the buyer now has instant access to ten average price calculations, enabling them to make better-informed price decisions."

There are three main ways that Kyero’s average price comparisons help the potential purchaser:
1. Understanding the price differential between properties within the same province: A two-bed property in Malaga costs €291K while a three-bed requires an extra €135K
2. Comparing prices between ‘similar’ locations: The price of a one-bed property varies by 11% between the Balearic and Canary Islands.
3. Establishing a baseline figure to help when assessing the value of any particular property: If the average price of a two-bed property in Granada is €172K, why is THIS property €150K?

"Be careful though. Average price calculations always come with caveats," continues Dell. "Statistics in general are only useful when their potential weaknesses are made clear at the outset. These are the main limitations to bear in mind when browsing the collection of Spanish homes at kyero.com.”

1. Prices are ‘as advertised’ – actual sales prices will almost certainly differ.
2. The two, most popular provinces of Malaga and Alicante (Costa del Sol and Costa Blanca), significantly affect the national average figures because they represent 68% of the properties evaluated.
3. A small number of properties in some provinces means that the prices are less likely to represent the ‘actual’ average

Dell summarises "The Kyero Price Guide is not perfect but it is a huge step in the right direction because it automates the calculations that potential buyers already perform for themselves. We have tried hard to add real value to the buying process because better informed customers make better purchasing decisions that benefit the individual AND the entire Spanish property market in the long term."

The Kyero service is free for renters and buyers and is not affiliated with property developers or estate agents nor does it receive commissions based on property sales or rentals. Funded entirely from pre-paid advertising fees, kyero.com is a comprehensive and impartial resource for potential buyers who make direct contact with the estate agents of their choice.

PR Leap is a service of Condesa, Inc. © 2009 All Rights Reserved. Use of our service is governed by our Privacy Policy and Terms of Service.
Issuers of news releases are solely responsible for the accuracy of their content. Copyright / IP Policy