The Spanish housing market is looking in good shape according to the latest Tinsa data which reveals a 4.5% increase in property values for February 2018 (compared to the same period last year) with the highest growth seen in the Balearic Islands.
Indeed, the Balearics (Mallorca, Menorca, Ibiza and Formentera) recorded average house price growth of 6.8% in the last 12 months whilst prices along the Mediterranean coast continued to grow steadily at 4.4% (Tinsa).
Looking at what, or indeed who, is driving the market onwards and upwards, data from the Spanish Land Registrar’s Association reveals that foreign demand for Spanish property now accounts for 42% of the overall market with Brits buying boltholes abroad accounting for almost 16% of all transactions made by foreign citizens in the final quarter of last year.
It appears that worries over Brexit have had limited impact as UK demand for second homes in Spain rose from 14.7% in Q3 to 15.6% in Q4 last year (Spanish Land Registrar’s Association).
This sentiment is echoed by leading housebuilder, Taylor Wimpey España, celebrating 60 years of trading this year (1958 – 2018), which has revealed that Brits are once again their biggest buyers accounting for almost a fifth of all reservations made in February 2018.
“With Spain now the second most popular tourist destination in the world, it is no surprise to see British holidaymakers and indeed second home buyers, returning in greater numbers this year.
“Property sales to Brits are strong, reclaiming their crown as our number one buyers and we are in fact seeing more and more affluent British citizens looking to place their money outside of the UK, with view to Brexit in April 2019. Spain is deemed a safe heaven and we expect to continue to see ever more British buyers in 2018.”
Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España
In terms of where Brits are buying, the latest data from Kyero.com reveals that spacious homes on the largest Balearic island, Mallorca, are in the crosshairs of Brits.
A typical holiday home bought for Brits on the island is a 3-bedroom apartment costing in the range of €250,000 and €500,000. And this precisely what Taylor Wimpey España is offering with their brand-new development, Royal Blue.
Located in Capdepera on Mallorca, the exclusive Royal Blue complex offers contemporary apartments with 3 sizeable bedrooms. From the large terrace, owners can enjoy the fabulous sea views and the spectacular blend of blue and turquoise tones present in the crystalline waters.
From €315,000 + VAT, these new homes are in an ideal area, next to the beach at Cala Mesquida and are within walking distance of local restaurants and amenities.
Interested buyers can find out more about this superb new development by calling 08000 121 020 or visiting http://www.taylorwimpeyspain.
Alternatively, the Taylor Wimpey España will be available the ‘A Place in the Sun Live’ exhibition this weekend (16th – 18th March) in Manchester.
