Property sales made by foreign residents in Spain experienced an increase of 24.7% in the third quarter of 2011 compared to the same period last year according to statistics from The Ministry of Public Transactions.
This figure takes into account all foreigners who live and resident in Spain while further statistics show that the provinces with the greater number of purchases by foreign residents were Alicante (2097), Malaga (951), Barcelona (607), Balearics (516) and Santa Cruz de Tenerife (476).
With this in mind, Spain looks set to continue this trend according to experts with a final rush of property buyers seeking out Spanish real estate before 2011 comes to a close with experts suggesting that tax breaks and low interest rates on savings accounts will be the main factors encouraging buyers to hunt down bargains.
Marc Pritchard Sales and Marketing Director of Taylor Wimpey España, comments,
“The increase in property sales to foreigners in the last quarter of 2011 shows that many buyers have been discerning enough to strike while the iron is hot and purchase properties that are well priced and in excellent locations. With this in mind, the Holiday Lettings´
Insight Report for 2011 identified that there was a 3% increase in the number of enquires about buying Spanish property between January and October this year compared to the same period in 2010 while the report also discovered that people looking for holiday let opportunities in Spain was the second most-enquired about destination among buy-to-let investors, after the UK, between January and October 2011.
Pritchard continues,
“Indeed, it is looking likely that prices in Spain will begin to increase by the end of 2011 with places like Tenerife and Malaga seeing property values improve signaling good news for the Spanish real estate market next year.”
For those who are thinking about making a Spanish property purchase next year, Taylor Wimpey España has some superb homes available in Mallorca, the Costa del Sol and the Costa Blanca to spice up 2012.
Located on the south east coast of Mallorca, very close to the glamorous Marina de Cala D’Or El Puerto II consists of 2 bedroom apartments costing from just €195,000. With 3 communal swimming pools available these properties are surrounded by outstanding natural beauty offering various other activities such as water sports, biking and golf in the local area.
Los Robles de los Arqueros II, in Benhavis, Costa del Sol offers 2 and 3 bedroom, 2 bathroom apartments with amenities including a swimming pool for children and adults as well as community gardens and underground parking all surrounded by a prestigious 18 hole golf course costing from €227,000.
The Calpesol residential complex in Calpe, Costa Blanca is comprised of stunning houses with gardens and communal swimming pools affording three bedrooms and two bathrooms with roofed sun terrace and private parking costing from just €165,000.
For more information please contact Taylor Wimpey España today on 08000 121 020 or visitwww.taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 244.
