British home buyers heading back to Spain in droves

  • 14 years ago
  • Uncategorized
Falling property prices, a poor exchange rate and negative news stories about the Spanish economy have all contributed to a fall in Spanish property sales to Brits over the last couple of years.
However, new statistics from a British developer in Spain show that British home buyers are returning to the country in large numbers to snap up properties at reduced prices.
Spanish property enquiries up 80%
The research by Taylor Wimpey de España shows that property enquiries and leads are up 80 per cent in August 2010 compared to August 2009. Visits from Brits on viewing tours to new property developments on the Costas has also increased by 67 per cent on the same period last year.
Victor Sague, Sales and Marketing Director of the firm says: “We have found that there has always been the interest throughout the downturn, however, buyers have been waiting for the market to bottom out before they invest. In the premier destinations, like Marbella, this is without doubt now the case hence the spike in interest and serious buyers.”
Spanish property sales also on the rise
The statistics from Taylor Wimpey also show that sales of Spanish homes have also increased in 2010. Indeed, some developments on the Costa del Sol and in Marbella have sold out completely, leading to new development in these areas.
Mr Sague continued: “Over the last couple of years there has been very limited development, especially in the prime locations in Spain, for example, Mallorca and the Costa del Sol. It is in these destinations that we are now seeing demand for quality and well priced property increase and with limited stock now on the market, in some areas property prices are already starting to rise in response to the demand. 
“Many interested buyers have sat on the fence for the last couple of years, sensibly watching the market, in my opinion, now is an excellent time to buy to make the most of the reduced prices and excellent stock property on offer.” 

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