Taylor Wimpey’s Spanish division reports profit margin of 26.7%
Taylor Wimpey España, the Spanish division of the High Wycombe construction company, has reported a strong start to 2022.
The firm, which sells second homes in Spain to international buyers, has said that it completed 203 homes between January and June 2022, compared to 84 completions during the same period in 2021. This is an increase of 142 per cent.
This has driven strong financial figures for the first half of 2022, with the firm boasting an operating profit margin of 26.7 per cent. The average selling price of the company’s properties in Costa del Sol, Costa Blanca, Mallorca and Ibiza was €391,000 (~£329,000).
Javier Ballester, Managing Director of Taylor Wimpey España, said: “We are delighted to report such a positive start to the year. Demand for well-located, high-quality homes in Spain is robust and we are pleased to have been able to launch four new developments so far in 2022 to meet this need, representing a total investment of €58m in the Spanish property market.”
Part of this strength is driven by a resurgence in Spanish tourism, with foreign arrivals reaching 7.46 million in June of 2022 – a year-on-year increase of 236 per cent. The firm’s buyers this year have included 30 different nationalities.
Javier said: “We have some exciting new developments coming up during the second half of 2022. The first half of the year has been extremely busy and the second half of the year looks like it will be too.”