With record numbers of tourists visiting to Spain this summer just gone, international property investment also continues to thrive. According to the latest research from property consultants JLL, total investment this year so far has almost overtaken the amount ploughed into Spanish real estate for all of 2016.
In fact, the market looks to exceed this total in the future as experts are predicting a further rise in the number of tourists visiting Spain. According to reports from the third Mediterranean Resort & Hotel Estate Forum, the Mediterranean region will receive 420 million tourists by 2020 with Spain being the most popular tourism destination.
In terms of when sales of Spanish properties have risen in 2017, it’s no surprise to see a marked increase in sales during August – the height of the summer holiday season. Latest figures from the National Institute of Statistics (INE) reveal Spanish homes sales were up to 17% this August compared to the same period last year.
In line with INE figures, Spain’s leading housebuilder Taylor Wimpey España also saw an increase in reservations for properties over the summer. The company’s latest reportreveals the highest number of reservations taken between June to September in the last six years with enquiries up 13% compared to the same period in 2016.
“The latest INE data confirms our confidence in Spain’s real estate market and we believe that this growing interest in Spanish property will continue throughout 2018. This summer has been very positive for us with the market attracting a wide range of buyers and we see no signs of this slowing over the coming winter months.”
Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España
After a period of uncertainty, buyers in the UK wanting to relocate or invest in a home abroad are flocking to Spain once again in significant numbers with British reservations for Taylor Wimpey Espana’s properties up 92% alone compared to last summer.
The Costa Blanca is the area that has seen the most growth this year with buyers from more than 20 different international markets. Indeed, as Spain’s property market has recovered, it is now appealing to a wider group of buyers and whilst Britons are the most significant buyers, they are now competing with those from Scandinavia, Russia, Belgium and other North European countries.
The Panorama Mar development in Torrevieja, which has been in high demand this summer, is a strong example. Amongst its buyers, 23% are Russian, 20% are Scandinavian and 7% are Belgian.
“Europeans enjoy the friendly atmosphere on our Costa Blanca developments because the site encourages international buyers to appreciate the Mediterranean lifestyle and gorgeous weather in the favourable communal areas. This combined with easy, direct and regular flight access into Alicante makes this region a popular choice with our European clients.”
Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España
Homes remain for sale at Panorama Mar, situated on Punta Prima Beach in Torrevieja which offers an array of 2 and 3 bedroom apartments, all designed for both comfort and convenience, with 2 bathrooms and an underground parking space.
With prices starting from just €309,000 +VAT, every resident is granted direct access to the beach promenade. And whilst being an area of natural beauty right on the waterfront, Punta Prima is also blessed with excellent transport links. The San Javier Airport in Murcia is only a 30-minute drive and Alicante’s International Airport is just 45 minutes away.
