Britons flock to Spain to buy second homes

Britons flock to Spain to buy second homes as demand explodes for places in the sun

HOME builder Taylor Wimpey has reported ”excellent” performance in 2021 as it sees rising demand for properties in Spain.

The developer has seen strong demand for homes throughout 2021, boosted by affordable mortgage costs and the stamp duty holiday. In Spain, the easing of travel restrictions has seen a surge in prospective buyers looking to find a second home in the sun. Taylor Wimpey says it has seen an increased level of demand, particularly in the second half of 2021, with the firm now aiming to ramp up building as property prices in the country rise. In 2021 Taylor Wimpey completed 215 homes with an average selling price of £348,000 (€417,000), up from 190 in 2020 with an average price of £313,000 (€375,000).

At the end of 2021 its order book stood at 324 homes.

The company’s Spanish arm has recently said some months in the last half of 2021 saw reservation numbers not seen in the 64 years it has been building there.

Back in the UK demand has continued to remain high with Taylor Wimpey ramping up output.

UK home completions increased by 47 percent in 2021 with 18 percent of new homes being affordable.

During this time average selling prices rose three percent which the firms says has fully offset rising building costs.

Chief Executive of Taylor Wimpey, Pete Redfern, commented: ”Looking ahead, we are well placed to deliver against our targets.

”The outlook is positive and Taylor Wimpey is particularly well positioned.

”We maintain a sharp focus on delivering sustainable growth, strong profitability, and increased cash returns for shareholders over the long term.”

 

Britons Spain.

 

https://www.express.co.uk/finance/city/1551243/spanish-property-prices-second-homes-tayloy-wimpey