Each page is identical in format and gives you the following information

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1 Page of 7 The kyero price report is updated and published each month to evaluate the advertised prices of 50,000 Spanish properties for sale with a total value of 20 billion Euros. The report is categorised by number of bedrooms and Spanish province. On page 2 you will find a summary of every province and property size and on subsequent pages, you can view the same information again but broken down by number of bedrooms. Each page is identical in format and gives you the following information - the number of properties evaluated to create the average price - the average price of each type of property - the percentage difference in price compared to the national average Kyero.com is a property advertising portal with 50,000 properties from 350 estate agents throughout Spain. Only 40,000 properties are actually used to calculate the average prices because a weeding out process automatically removes: - Properties where the freehold is not for sale: this excludes short and long term lets, leasehold properties and fractional ownership properties - Properties that typically have no bedrooms or where the number of bedrooms entered is unreliable: two examples are caves and ruins The report can help you in three ways. Understanding the price differential between properties within the same province: A two-bed property in Malaga costs 29K while a three-bed requires an extra 35K 2. Comparing prices between similar locations: The price of a one-bed property only varies by % between the Balearics and the Canaries. 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 is 72K, why is THIS property 50K? Statistics are only useful when you know their potential weaknesses and these are the key ones for this set of data: Prices are as advertised : actual sales prices will almost certainly differ. The two, most popular provinces of Malaga and (Costa del Sol and Costa Blanca), have a significant effect on national average prices because, between them, they represent 68% of the properties evaluated. Small numbers of properties in some provinces means that the prices are less likely to represent the actual average. We would be delighted to hear your comments or suggestions about how this report can be improved, please don't hesitate to contact us. Feel free to reprint or quote any of these statistics, as long as the entire copyright line below is preserved and legible. Website: [email protected] Telephone:

2 Page 2 of 7 Summary of all provinces and all property types Avila Barcelona Cadiz Girona Guadalajara Islas Baleares Madrid Malaga Pontevedra Santa Cruz De Tenerife Segovia Teruel Zaragoza # properties avg. price ,09-24% 6,324 30,784-3% 2,606 99,382-44% 47 47,527-59% 8,000-67% 2 28,97-64% 30 68,096 72% 3 25,800-30% ,34 5% 79 89,243-47% ,522-55% ,332 28%, ,56-38% 5 246,800-3% ,232-3%,3 628,077 75% 75 23,98-65% ,32-6% 2 270,000-25% 20, ,72 8%, ,69-35% 2 200,20-44% ,660-9% 250,000-30% ,427-62% ,624-33% 35,000-62%,80 206,586-42% 495,000 38% 39,49 358,76

3 Page 3 of 7 -bed properties ,008-5% 97 25,323-2% 74,290 0% Barcelona 60,000-62% Cadiz 30 20,202 33% 8 44,579-8% 8 0,850-30% Girona 6 49,50-6% 79 35,63-4% 4 30,750-7% Islas Baleares 70 55,462-2% 2 6,675-6% 25 30,994-7% Malaga,305 73,62 0% 67 42,639-0% Santa Cruz De Tenerife 98 57,332 0% 20 82,589-48% 25 33,082-6% 4 4,462-28% 2,373 57,994

4 Page 4 of 7 2-bed properties 7 47,557-42%,952 98,604-2% ,855-34% 6 3,455-55% Avila 8,000-53% Barcelona 5 470,442 86% 75,000-3% Cadiz 2 32,338 24% 55 55,262-39% 63 20,4-52% Girona ,939 7% ,03-32% 2 20,063-20% Islas Baleares ,373 33% 7 8,240-68% ,050-4% Madrid 75,000-3% Malaga 7, ,875 5% ,906-29% Santa Cruz De Tenerife ,260-6% 83 99,345-6% 86 78,297-29% ,838-39% 2, ,7

5 Page 5 of 7 3-bed properties 90,600-45% 2, ,597-7%,00 28,552-37% 29 30,22-63% 8 90,58-74% Barcelona 2 52,952 47% 5,000-67% Cadiz ,938 3% 87 92,43-45% 23 39,566-60% Girona ,403 % ,972-37% Guadalajara 2 262,500-25% 23 23,790-39% Islas Baleares ,973 58% 39 8,37-66% 66 46,074 9% Malaga 7,398 48,528 20% ,842-3% Pontevedra 30,240 -% Santa Cruz De Tenerife 7 396,062 4% Segovia 250,000-28% ,762-62% ,057-30% Teruel 35,000-6% ,258-44% 5, ,696

6 Page 6 of 7 4-bed properties 4 539,750 0% ,444-8% ,796-49% 7 95,840-60% 3 23,000-53% Barcelona 0 72,526 45% 465,400-5% Cadiz ,2 39% ,27-50% 86 84,565-62% Girona 72 66,369 26% ,390-48% Guadalajara 3 236,333-52% 2 379,780-22% Islas Baleares ,357 62% 8 57,93-68% ,769-0% Madrid 365,000-25% Malaga 3,07 626,33 28% ,04-38% Pontevedra 90,000-82% Santa Cruz De Tenerife ,46 9% 2 68,824-66% ,863-43% ,94-54% Zaragoza 495,000 % 6, ,928

7 Page 7 of 7 5-bed properties 4 452,500-2% ,755-9% ,627-60% 4 233,588-59% 30,000-77% Barcelona 2,425,000 49% Cadiz 48,069,737 87% 6 303,692-47% ,893-65% Girona ,025 3% ,23-46% 2 373,000-35% Islas Baleares ,34 6% 9 27,752-78% 3,346,333 35% Malaga ,792 35% ,053-27% Santa Cruz De Tenerife 6 664,04 6% 34 60,576-72% 29 33,389-42% ,599-5% 2, ,962