Property buyers flock to Spain as number of home sales rockets by 39.8%
It seems the Spanish housing market has finally turned the corner. According to the latest figures based on actual transactions from the General Council of Notaries, home sales in February 2014 were up by 39.8% (to 26,602 transactions) when compared with February 2013.
- Spanish home sales in February 2014 rose by 39.8% (General Council of Notaries)
- Sales of private apartments in new homes up by 24.1% (General Council of Notaries)
- Asking prices for Spanish property increase by 8.9% throughout Jan and steadily on the up (General Council of Notaries)
This increase in transactions is reflected in all segments of the residential property market, including the sale of private apartments, with sales of those in new homes soaring by 24.1%.
The report also showed that the value of property sold so far this year has steadied, after an increase in prices of 8.9% in January. While in February there was a slight increase in the average selling price (which was up 0.6%), the figures corroborate reports that asking prices have finally stabilised over the last three months.
Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España comments,
“We’ve seen that sales are steadily increasing and prices are stabilising … could this be the much-anticipated beginning of a new chapter for the property market in Spain?
“Another indicator of confidence in the market came from the construction industry, where new build completions have also stabilised. Considering this sector took the biggest blow as a result of the economic crisis, it is now visibly on the up. Here at Taylor Wimpey España alone we have acquired 12 new plots and developments.”
The latest analysis from Spanish property portal Kyero has pinpointed exactly what buyers are looking for. The data shows that Alicante and the Costa Blanca continue to be the most attractive areas for foreign buyers, accounting for 31% of all enquiries generated, followed by Malaga in second place, which attracted almost 14% of enquiries.
The most popular properties by far were apartments, which generated 41% of enquiries. These were followed by villas (28%) and country houses (15%). In terms of accommodation size, 3-bed properties attracted the most interest (34%), though they were followed closely by 2-bed properties (30%).
In terms of cost, the most attractive price band when it came to foreign buyers was €50K to €150K, with 47% of all enquiries falling into this bracket.
So for those looking for their perfect place in the Spanish sunshine, it seems there is no time like the present. Prices are continuing to rise and the strength of the pound against the Euro is once again in the favour of British buyers, leading many to take a closer look at what Taylor Wimpey España has to offer.
Brisas de Alenda Golf is a beautiful residential development on the Costa Blanca that typifies the type of high specification, well-built property that Brits are looking for. The private complex offers 3 bedroom properties with generous private gardens, communal swimming pool and club house, as well as a gym, bar and restaurant all available from just €145,000 + VAT.
Designed to optimize the light and the space and with the best finishes and facilities, the Brisas de Alenda townhouses enjoy a peaceful location adjacent to the Alenda Golf Course, while the wonderful white sands of the Costa Blanca are a mere 15 minute drive away.
For more information please contact Taylor Wimpey España today on 08000 121 020 or visitwww.taylorwimpeyspain.com. If you reside outside of the UK you will need to call 0034 971 70 69 72.