Costa del Sol and Mallorca battle for Scandinavian buyers
It seems the Costa del Sol and Mallorca are battling it out for the interest of Scandinavian buyers, as Spanish property investors look for alternatives to the Costa Blanca. According to Taylor Wimpey Espana, Scandinavians are increasingly attracted to the perceived glamour of the Costa del Sol and Mallorca, joining the British and Germans in populating the market.
The company isn't the only firm to notice rising numbers of Scandinavians flocking to Spain either. Kyero.com's latest analysis has shed light on what these investors are looking for. It claims, during the first half of 2013, 51 per cent were on the hunt for properties between €50,000 (£42,936) and €150,000 (£128,810). Half are seeking apartments, while 32 per cent want a two-bedroom property. Some 55 per cent also seek a swimming pool.
Marc Pritchard, sales and marketing director for Taylor Wimpey Espana, said: "The market has changed dramatically compared to pre-crisis times; our buyers now come from over 20 different countries with the Scandinavians playing a much greater role this year more than ever. Here at Taylor Wimpey Espana we have seen an overall 125 per cent increase in Scandinavian buyers."
In the Costa del Sol, there has been a 150 per cent year-on-year increase in Scandinavian investors, but it seems Mallorca is winning in the popularity stakes. The Balearic isle has seen a 250 per cent increase in Scandinavian buyers over the the year.
Mr Pritchard explained that the popularity of Spain among this region can be seen in the number of Scandinavian supermarkets popping up across the country, while there are Swedish language newspapers available in the Costa del Sol. In Mallorca, there is even a Swedish language school.
Holiday homes and letting opportunities remain popular across Spain, but expat numbers are also rising, thanks to the attractive quality of life offered and cheap living costs. Britons remain the dominant force behind overseas investment, but Scandinavians could soon be beating them back.
The company isn't the only firm to notice rising numbers of Scandinavians flocking to Spain either. Kyero.com's latest analysis has shed light on what these investors are looking for. It claims, during the first half of 2013, 51 per cent were on the hunt for properties between €50,000 (£42,936) and €150,000 (£128,810). Half are seeking apartments, while 32 per cent want a two-bedroom property. Some 55 per cent also seek a swimming pool.
Marc Pritchard, sales and marketing director for Taylor Wimpey Espana, said: "The market has changed dramatically compared to pre-crisis times; our buyers now come from over 20 different countries with the Scandinavians playing a much greater role this year more than ever. Here at Taylor Wimpey Espana we have seen an overall 125 per cent increase in Scandinavian buyers."
In the Costa del Sol, there has been a 150 per cent year-on-year increase in Scandinavian investors, but it seems Mallorca is winning in the popularity stakes. The Balearic isle has seen a 250 per cent increase in Scandinavian buyers over the the year.
Mr Pritchard explained that the popularity of Spain among this region can be seen in the number of Scandinavian supermarkets popping up across the country, while there are Swedish language newspapers available in the Costa del Sol. In Mallorca, there is even a Swedish language school.
Holiday homes and letting opportunities remain popular across Spain, but expat numbers are also rising, thanks to the attractive quality of life offered and cheap living costs. Britons remain the dominant force behind overseas investment, but Scandinavians could soon be beating them back.
PUBLISHED : 02ND SEPTEMBER 2013
