Viva España! British buyers revival
Viva España! British buyers fuelling Spanish real estate revival
Over the past year, there has been a notable surge in British interest in property in Spain.
Taylor Wimpey España reported a remarkable 120 per cent increase in British reservations in April 2024 compared to the same period in 2023.
Data from Spain’s Colegio Registradores further reveals that Britons surpassed all other foreign nationalities in terms of home purchases in Spain in 2023.
They accounted for 9.53 per cent of all foreign buyers throughout the year, contributing to 14.98 per cent of all homes sold in Spain.
Positive Trend
This positive trend has extended into 2024.
New homes are particularly in demand.
February 2024 figures from Spain’s Consejo General Notariado (General Council of Notaries) indicate a 9.7 per cent increase in total sales compared to the previous year, with new home sales surging by 20.83 per cent.
Price Rise
As the appetite for properties in Spain grows, so do prices, which rose by 5 per cent overall in the year leading up to February 2024, with a more significant increase of 7.5 per cent observed for new homes.
“The heightened demand for new homes reflects a growing appreciation for their energy efficiency compared to older properties. This trend benefits both the environment and buyers seeking to reduce their energy consumption.”
“Increasingly, our buyers are actively seeking ‘A’ rated properties, a preference that we accommodate through our fabric-first approach to designing and constructing new homes,” stated the Sales and Marketing Director of Taylor Wimpey España.
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