Second home buyers continue to sustain Spanish property demand
Overseas buyers looking for a second home are continuing to sustain demand for Spanish property. Sales figures from Taylor Wimpey Espana showed that despite economic difficulties and a three per cent fall in overall real estate transactions, second home ownership is on the up, with a 57 per cent rise in sales on the Costa Blanca alone in 2012.
The region is proving that it can remain popular despite arguably difficult market conditions, drawing in foreign tourists and investors year after year across multiple market segments. What's more, its appeal is global, with buyers flocking from the UK, Russia and Scandinavia, to name but a few.
Vicente Domine, head of the Housing and Public Works Department of the regional government in Costa Blanca, claims that the number of foreign citizens purchasing homes in the Costa Blanca accounted for 29 per cent of the total number of Spanish transactions. This is a rise of 32 per cent on 2011 levels.
Marc Pritchard, sales and marketing director for Taylor Wimpey Espana, commented: "The rise in demand for second homes which we have seen on the Costa Blanca over the last 12 months is very encouraging. Enquiry rates have steadily been returning to pre-recession levels and as the market picks up we are building once again."
Taylor Wimpey Espana's La Vila Paradis, Villajoyosa development is also proving to be particularly popular, offering "clean, comfortable and stylish" units. With a beach on the doorstep and year-round sunshine, it isn't difficult to see why the site is proving popular. Choose from two or three bedroom apartments, built to a remarkably high standard. With a pool and private gardens, properties start from €249,000 (£210,896 approximately).
The developments also make ideal holiday lets for investors looking to generate an income from their property. This is a popular approach among home buyers, looking to create a return on investment at a time when the rest of the market in the country is flailing.
The region is proving that it can remain popular despite arguably difficult market conditions, drawing in foreign tourists and investors year after year across multiple market segments. What's more, its appeal is global, with buyers flocking from the UK, Russia and Scandinavia, to name but a few.
Vicente Domine, head of the Housing and Public Works Department of the regional government in Costa Blanca, claims that the number of foreign citizens purchasing homes in the Costa Blanca accounted for 29 per cent of the total number of Spanish transactions. This is a rise of 32 per cent on 2011 levels.
Marc Pritchard, sales and marketing director for Taylor Wimpey Espana, commented: "The rise in demand for second homes which we have seen on the Costa Blanca over the last 12 months is very encouraging. Enquiry rates have steadily been returning to pre-recession levels and as the market picks up we are building once again."
Taylor Wimpey Espana's La Vila Paradis, Villajoyosa development is also proving to be particularly popular, offering "clean, comfortable and stylish" units. With a beach on the doorstep and year-round sunshine, it isn't difficult to see why the site is proving popular. Choose from two or three bedroom apartments, built to a remarkably high standard. With a pool and private gardens, properties start from €249,000 (£210,896 approximately).
The developments also make ideal holiday lets for investors looking to generate an income from their property. This is a popular approach among home buyers, looking to create a return on investment at a time when the rest of the market in the country is flailing.
PUBLISHED : 28TH MARCH 2013
