Exchange rate pushes Spanish second home
Exchange rate pushes Spanish second home ownership down to £160k
- New Amara apartments from Taylor Wimpey España deliver affordable Spanish sunshine
- On-site pools and nearby beaches appeal to British buyers
- Quiet, residential areas coming to the fore as buyers seek to escape the noise of modern life
Life in the UK has been very noticeably getting more expensive of late, with food and fuel two of the main culprits. However, over the past couple of years, the quietly falling exchange rate has meant that owning a second home in Spain has been coming down in price. So much so that, at Amara – the brand new development from leading Spanish home builder Taylor Wimpey España – it’s possible to purchase a two-bedroom, two-bathroom apartment for £160,173 (plus VAT).
Amara will be home to 120 apartments in Gran Alacant, in Cabo de Santa Pola, Alicante. Close to the Clot de Galvany park and a short distance from the beaches of Carabassí, the homes enjoy an outstanding location in a peaceful residential neighbourhood. Prices start from €190,000 plus VAT, which at the time of writing equates to £160,173.38 (plus VAT).
According to XE, €190,000 would have equated to £165,666.89 back on 26 April 2021. A few months earlier, on 12 December 2020, it would have been worth £173,984.90. And three months before that, on 12 September, it would have been worth £175,846.14.
While there have, of course, been fluctuations in the exchange rate over the past couple of years, there has been a general strengthening of the pound against the euro since September 2020. This means that a British family buying a second home in Spain will now be paying £15,000 less than they would a year and a half ago.
“The exchange rate has been working in British buyers’ favour for quite some time, meaning that owning a second home in this beautiful part of Spain has become more affordable. Buyers have been quietly taking advantage of this, with the result that Britons purchased more homes in Spain than any other foreign nationality buyer in 2021.”
Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España
Figures from Registradores de España show that Brits accounted for 11.01% of total home sales to foreigners in 2021 – more than any other nationality. In terms of total home sales, the number of property purchases in Spain shot up by 34.5% in 2021. More than one in five sales (20.78%) during the year were in Andalusia, while the Valencian Community (which includes Alicante) accounted for 14.12% of total home sales.
Set against the backdrop of this busy market, Amara delivers two- and three-bedroom apartments with communal pools, landscaped gardens and playpark. Every home has its own outdoor space in the form of a terrace or garden, while penthouse apartments come with a rooftop hot tub and spectacular sea views. Each apartment also has underground parking and a storeroom included in the price.
The homes are being built to exacting environmental standards. They will include double glazed windows, pre-installation for charging electric vehicles, water- and electricity-saving measures in communal areas and aerothermal heat pumps for the production of hot water.