Spanish property love affair back on the cards with 29.6% increase in sales reported
It seems that the Spanish property market has turned an all important corner with the latest figures from the Spanish National Statistics Institute (INE) reporting a 29.6% increase in the sale of dwellings in August 2010 compared to the same period in 2009.
The British love affair with Spanish property was unfortunately interrupted by economics and banking crises back in 2008 however there are indications that feelings could be stirring once again with a passionate reunion on the cards.
In the first half of 2009, investment in Spanish property reached a low of €271 million however new statistics show that in the first half of 2010 this figure more than doubled to €556 million. This massive increase in investment is building confidence in the future of the Spanish property market for developers, agents, property owners and potential buyers.
This positive view of the future of the market is echoed by the Prime Minister Jose Luis Rodriguez Zapatero. The Government believes that the Spanish economy will continue to improve and that property prices, having now bottomed out, will increase also. Zapatero said last month that ‘prices have stabilised in general and have even been increasing. Demand seems to be picking up’.
And evidence there is a strong basis for recovering demand seems clear if Internet search figures are to be trusted. Between May and July this year, Spain was the most popular country flight destination with nearly 17 per cent share. The country was also the most popular country for flight searches during this 12 week period, with Tenerife, Malaga and Alicante all featuring prominently in the top 50 destinations list.
Taylor Wimpey de España, experienced developers of property in highly sought after Spanish resorts, is witnessing this increase in demand from clients first hand. Indeed, they have nearly sold all their properties built over the last two years. Since the problems of 2008, there has been less property development by such well known brands and the result is that houses in prime locations are still limited. For example, a person wanting to purchase in a ‘premium’ location such as Marbella or Benahavis on the Costa del Sol, would find a quality property between €200,000 and €300,000 hard to find.
Taylor Wimpey de España puts its robust performance through the recession period down to its vast experience and strong brand which set it apart from less established and financially stable companies. Its long established presence in the UK has given the firm an advantage by being able to reassure and provide security to potential buyers, some of whom have been left a little weary by the recent economic climate and negative reports. With a resurgence in the number of off-plan buyers Taylor Wimpey de España reports a positive outlook for next year.
Victor Sague, Sales & Marketing Director of Taylor Wimpey España, comments,
“The Spanish property market is back in business! Confidence in the halls of Government and the Bank of Spain is being echoed by many British buyers who are aware that the market for prime property has bottomed out and although there is still a degree of caution in a purchase of such a scale, those who have sat on the fence for the last couple of years are now keen to push ahead with their home buys in order to make the most of the reduced prices.
“Interest in traveling to Spain and seeing all it has to offer is as high as it ever was and our prudent decisions over the last few years have seen Taylor Wimpey España emerge just as strong as before.”
One development that has proved particularly popular with buyers is Pollentia Mar on the stunning island of Mallorca. Located in the seaside town of Puerto Pollenca, Pollentia Mar is just 50m from the beach and the famous Voramar promenade.
Mallorca and its north coast have a variety of very good golf courses and almost every view from the area incorporates the spectacular view of the Sierra Tramontana mountain range or the beautiful bay of Pollença. Pollença is just 35 minutes from Palma de Mallorca.
There are only a handful of 2 bedroom apartments remaining at the reduced price of €215,000 (previously at €440,000) so contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 244.