Spanish property market update – the situation on the ground
- Q2 2015 Spanish property sales up 11.1% (Property Registrars)
- The Costa Blanca is the place to buy right now (Taylor Wimpey España)
- Prices jump 5.12% in the year to June 2015 (Property Registrars)
According to the headlines, the Spanish property market has bounced back. The latest figures from the Association of Property Registrars show a 5.12% increase in Spanish house prices in the year to June 2015. The jump is the fastest rate of increase since the downturn, with a quarter on quarter rise of 2.8%.
So should buyers rush to Spain in search of that dream holiday home or investment property? It depends on the area, counsels Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España.
“There are vast differences across Spain in terms of the property market’s recovery,” he explains. “Some areas, particularly coastal resorts that are popular with foreign buyers, are showing a marked recovery in prices and a really healthy market. Other regions are still struggling to turn their markets around though, so you need to do your homework regarding where to buy.”
While prices nationally remain some 29% below the market’s former peak, areas like the Costa Blanca are enjoying steady and sustained progress.
“Right now, if it’s a stable market that you are after in Spain then the Costa Blanca is looking particularly attractive,” continues Marc. “The market there has picked up pace beautifully over the course of the past year and confidence has really returned to the local property sector. Coastal areas are definitely the place to buy at the moment, but the confidence is spreading slowly across the rest of the country.”
That confidence is reflected in recent sales figures. According to the Association of Property Registrars, some 87,187 property purchases were registered during April, May and June. The figure represents an increase of 11.1% compared to a year previously.
Buyers looking for property along the Costa Blanca are keen to take advantage of the traditional attractions of the area, including its stunning coastline and world-class golf courses. Taylor Wimpey España’s popular Brisas de Alenda Golf development is perfectly attuned to buyers’ wishes. The contemporary three bedroom townhouses are available from just €155,000 and are ideally located for those buying from overseas, being just 18 km from Alicante Airport.
As well as enabling buyers to pick up a superior Alicante golf property for an excellent price, the development also affords them a number of luxurious touches, from private gardens to a large communal swimming pool. The Brisas de Alenda Golf complex also includes a supermarket, a club-house and a bilingual English-Spanish school, as well as the par 72, Roland Favrat-designed course. And all of this is within 20 km of a variety of fantastic, family-friendly beaches.
For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.