Spanish property market in show of strength, as Britons remain top foreign buyers

  • Costa del Sol and Costa Blanca remain firm favourites with foreign buyers (Taylor Wimpey España)
  • Spanish property prices rising faster than UK values (TINSA)
  • Britons still buying almost double number of properties of any other nationality (Association of Spanish Land Registrars)
  • Plans in place for Spain to continue courting Brits post-Brexit (Ministry of Trade, Industry and Tourism)

New Delhi, November 14, 2018: Leading Spanish home builder Taylor Wimpey España reports that the Costa del Sol and Costa Blanca remain firm favourites with foreign buyers, as figures from the Association of Spanish Land Registrars show that foreigners now account for almost 13% of Spanish property purchases. Overall, the Spanish property market continues to perform strongly, with local demand and foreign demand almost neck and neck.

“Foreign buyers play an important role in the Spanish property market. Right now, we’re seeing both local demand and foreign buyer demand increase, which is excellent news for the health of the overall market. In terms of foreign buyers, new build homes in sunny, well-established coastal areas are some of the most sought after properties.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

In total, foreigners purchased some 17,338 properties in Spain in Q2 2018. Of those, 2,590 purchases were by British buyers. The next largest group of overseas buyers were the French, who purchased 1,315 Spanish homes. The figures show the importance of British buyers to the Spanish market – something which Spain is considering carefully in light of the UK’s imminent departure from the EU, both from a property perspective and a tourism one.

Tourism numbers and foreigners buying Spanish property tend to be interlinked. After all, the more people who visit Spain and fall in love with its culture, cuisine, beaches and more, the more there are who yearn to own property there. In the first nine months of 2018, data from the Spanish National Institute of Statistics (INE) shows that 66.2 million foreign tourists visited Spain, spending 2.5% more than in the same period of 2017.

In order to ensure that Spain continues to benefit from British interest, Minister for Trade, Industry and Tourism Reyes Maroto has been meeting with top travel companies in order to ensure Britons can continue visiting Spain, regardless of the final terms of Brexit.

It certainly seems as though British holidaymakers are unphased by the prospect of Brexit disrupting their travel plans. Toni Mayor, president of the Hosbec Costa Blanca hoteliers association, has reported stable bookings from British tourists for 2019, despite the current lack of certainty around travel arrangements after 29 March.

“For both tourists and property buyers, Spain has much to offer. House prices here have risen faster than in the UK according to the latest TINSA data, meaning that Brits buying in Spain can enjoy superior potential for capital growth at present when compared to those buying in the UK.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

TINSA’s figures show a 5.3% increase in property prices in the year to October 2018. Both major city locations and the Mediterranean coastline are faring well, according to TINSA, with rises of 8.5% and 6.0% respectively.

With 60 years of experience in building and selling property in Spain, Taylor Wimpey España is enabling foreigners to buy with confidence. The quality of homes such as those at La Vila Paradis, at Villajoyosa (Costa Blanca), speaks volumes. With beautiful sea views and on-site swimming pools, the apartments and townhouses are ideal for those looking to make the Spanish sunshine a regular fixture in their lives. Just two key-ready apartments and one townhouse remain available at the development, as a result of strong demand for the high spec homes. Prices start from €285,000 plus VAT.

Over on the Costa del Sol, at Elviria, Marbella, Taylor Wimpey España’s La Floresta Sur development is also offering key-ready homes to those with an eye for quality. The spacious apartments offer luxurious surroundings with large terraces, complemented by two communal pools, all from just €228,000 plus VAT.