There is a renewed confidence in the Spanish property market with both Spanish and English speaking agents recording an increase in overseas buyers.
The latest Spanish property market confidence index from Kyero covering the first quarter of 2015 says that overall 71% of real estate agents feel more confident than they did a year ago and just 4% less confident.
The survey also reveals that 30% of English speaking agents see stronger Sterling as being responsible for the most significant shift in the Spanish property market while Spanish agents believe that increased marketing is boosting sales.
Some 56% of Spanish speaking agents and 57% of English speaking agents said that sales have increased, 34% and 31% said sales were static and 10% and 12% said sales had fallen.
But there was a considerable difference of opinion regarding property prices. Some 49% of English speaking agents said prices have increased, but just 18% of Spanish speaking agents agreed. Indeed, 57% of Spanish agents said prices had remained the same compared to 34% of English speaking agents. A quarter, 25% of Spanish speaking agents said prices had fallen, and 17% of English speaking agents.
Both Spanish speaking and English speaking agents reported a rise in buyers from overseas, at 59% and 64% respectively. Some 38% of Spanish speaking agents and 28% of English speaking agents said there was no change while 4% and 8% said there were fewer international buyers.
Almeria, Fuerteventura, Gran Canaria and Murcia are highlighted as inspiring the most confidence, according to the index which surveyed 160 English speaking and 216 Spanish speaking estate agents across Spain.
Martin Dell, director of Kyero, said that while the strength of Sterling has played a key role for English speaking agents who have used it to boost interest, Spanish speaking agents have taken a different approach.
‘While English speaking agents in Spain have been able to enjoy more confidence in the market thanks to the pound’s movements, their Spanish peers have been working flat out on their marketing activity in order to achieve the same goal,’ he explained.
However, both sets of respondents reported similar figures when it came to buyer confidence, with 20% of English speaking agents feeling that improved buyer confidence had been the most significant change over the past 12 months, compared with 21% of Spanish speaking agents.