Spanish Property Market: New Study Reveals Most Popular Locations with Overseas Buyers

Independent overseas property business portal, Globaledge has released the results of an in-depth study into the most searched for Spanish property destinations by internet users outside Spain. The Globaledge Search Index collects data from over 13,000 unique Spanish property search phrases on the Google's Keyword tool and aggregates the information by location to create a list of the most popular destinations for foreign buyers. Google only began releasing this information in July this year and it's the most comprehensive study to be performed to date on international demand for property in Spain.

London, UK (Bluehost/PRWEB ) September 19, 2008 -- Independent overseas property business portal, Globaledge has released the results of an in-depth study into the most searched for Spanish property destinations by internet users outside Spain.

The Globaledge Search Index collects data from over 13,000 unique Spanish property search phrases on the Google's Keyword tool and aggregates the information by location to create a list of the most popular destinations for foreign buyers. Google only began releasing this information in July this year and it's the most comprehensive study to be performed to date on international demand for property in Spain.

The seeming decrease in the popularity of the Costas could be due to a long-term effect of poor planning regulations and over-supply pushing buyers to more picturesque destinations, an important note for real estate agents and developers to consider.

"Globaledge's findings show that during July 2008, Tenerife was the most popular Spanish destination for foreigners searching online to buy property in Spain. It accounts for a remarkable 15.3% of all searches in the top 20. What's more, the Canary Island is twice as popular as the Costa Blanca and more than three times as popular as the Costa del Sol. It proves overseas buyers are increasingly looking beyond the traditional coastal resorts of old."

Tenerife is not the only island to make the list. Mallorca is the next most popular destination with international buyers with 24,215 searches or 6.9% of the total in July. With both Tenerife and Mallorca ranking above the popular Costas, Rigg thinks this could be the result of past mistakes:

"The seeming decrease in the popularity of the Costas could be due to a long-term effect of poor planning regulations and over-supply pushing buyers to more picturesque destinations, an important note for real estate agents and developers to consider."

Interestingly, and more specifically, the Tenerife resort of Los Cristianos also made the top 20 of its own accord, ranking in 13th place with 4,112 searches, ahead of both Alicante and the Costa Brava.

Island Under-Supply?
Globaledge also examined the competition on Google Adwords for popular property phrases in each of the top 20 locations. Interestingly, their findings suggest that Tenerife and Mallorca are not only more popular than the big coastal resorts, but they are also less crowded by agents and developers trying to sell property there. Rigg says "The findings suggest that there is either an under supply of agents and property serving the islands or that agents in these areas are not prolific users of Google Adwords. Either way it looks like a less saturated market than many other parts of Spain. It represents a good commercial opportunity for both national and international agents willing to spend the time finding collaborative partners on the islands".

Editor's Notes
The full story can be viewed here http://www.globaledge.co.uk/news/details/spanish-property-market:-top-20-overseas-buying-destinations/25835

For full methodology on our analysis of search volumes view the Globaledge Search Index at
http://www.globaledge.co.uk/news/analysis/details/globaledge-search-index/25862

Top 20 Overseas Property Search Locations for Spain

Position   Location   July Search Volume   % of top 20 volume   Google Adwords Max CPC Price
1           Spain         159585                    45.4%                    $5.08
2           Tenerife        53805                    15.3%                    $1.60
3           Mallorca         24215                    6.9%                    $1.94
4           Costa Blanca    22106                    6.3%                    $3.04
5           Costa del Sol    15987                    4.5%                    $4.27
6            Valencia    10522                    3.0%                    $2.61
7            Almeria           7193                    2.0%                    $4.64
8            Costa Calida    6233                    1.8%                   $5.49
9            Andalucia   6015                    1.7%                   $3.70
10            Murcia            5959                    1.7%                   $6.12
11            Marbella    5475                    1.6%                   $4.46
12            Ibiza            4810                    1.4%                   $1.14
13            Los Cristianos   4112            1.2%                   $0.99
14            Alicante    4060                    1.2%                   $3.55
15            Lanzarote   4050                    1.2%                    $1.41
16            Javea            3450                    1.0%                   $1.92
17            Costa Brava    3202                    0.9%                   $2.86
18           Granada       3151                    0.9%                   $1.92
19        Menorca    2852                   0.8%                   $1.82
20           Moraira           2474                0.7%                           $5.72

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