Surrounded by a background of economic uncertainty — a despondent domestic home market and the intro of those ‘bad banks’, it appears that confidence in the Costa del Sol, one of the most well-known second residence locations in the world, is on the up once again with leading house builder, Taylor Wimpey Spain taping a large 74% rise in sales up until now this year.
Of the 3 Spanish areas in which Taylor Wimpey specialise, Mallorca, Costa Blanca and Costa del Sol, the latter has actually by far seen the largest increase in sales compared with the exact same duration last year with brand-new developments such as Los Arqueros Beach in Marbella marketing in record time.
Over 60% of this luxury new development, just 4 minutes’ walk to the coastline and facilities of San Pedro de Alcantara, has actually been sold off-plan since launch simply 3 months ago.
However it’s not simply British purchasers being drawn back to Spain. Overseas Property Shop boss Conrad Bedford comments “most sales are from northern Europe – Fins, Swedish – Germans and Russians are amongst the top buyers.
One market which has revealed particular interest in having in Spain is Scandinavia recording a 300% rise in sales from this region followed closely by Denmark with a 150 % boost to date in 2012 compared with 2011.
Marc Pritchard (Taylor Wimpey) comments, “Not is Spain and the Costa del Sol in particular the protect of the British second homeowner. With the autumn of the euro and the decrease of VAT to 4 % till the end of 2012, Spanish property has become much more affordable, attracting customers from all corners of the globe.
Certainly the newly proposed law which will certainly provide foreign buyers residency in Spain if they acquire a home worth more than 160,000 will definitely enhance the worldwide need for homes further and assist thrust the marketplace in the right direction.”
Properties in Costa Blanca are again seeing great improvements, key ready – affordable homes are key at the moment, also for new build clients demand far more for their money – properties like Aqua Apartments in Villamartin and the Insula Villas at La Finca Golf Course are hitting all the right notes with European buyers.