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February

British buyers shrug off Brexit to buy in Spain

Published: Friday 09 February 2018

By Adrian Bishop

British buyers are shrugging off Brexit and are again buying more homes in Spain, says a leading developer.

A “blip” of falling inquiries following Brexit has been replaced by rising sales to Brits in the last six months of 2017, says Taylor Wimpey España.

Taylor Wimpey España sold properties to buyers of 32 different nationalities in 2017 with German buyers leading the way and British sales increasing.

December 2017 saw the sixth consecutive month of growth in sales to British buyers for the developer, with most at €450,000 and beyond, a trend never seen before.
And sales are set to continue to rise in 2018 and beyond, predicts Sales and Marketing Director, Marc Pritchard.

“Whilst conscious of the potential implications of the wider macro-European economic environment, our latest figures confirm that Spain remains very much at the top of the list for British second home buyers.

“Affluent British citizens are looking to place their money outside of the UK, in Spanish property, with view to Brexit in April 2019. Spain is deemed a safe heaven and we expect to continue to see greater number of purchasers at this higher price point.”

There has been a surge in Spanish housing sales since October, contributing to a 16% rise on 2016, according to the Ministry of Development (Fomento) figures. More than 510,000 homes were sold in the year to September 2017.

It was also a strong year for Taylor Wimpey España, with a 12.3% annual increase in sales. The company, which has been building homes in Spain for 60 years, also saw more international buyers.

“The Spanish housing market has remained strong throughout the year as we have witnessed international demand rising again, having sold homes across Spain to more than 30 different nationalities,” says Mr Pritchard.

 

Spain has again seen record-breaking levels of tourism with 77.8 million foreign nationals visiting between January-November 2017, up from 75.6million in 2016, according to figures from the tourism agency, Frontur.

British tourists accounted for 18 million (23%) visitors in 2017, a 7% annual increase. There were 11.4 million German visitors and 10.7 million French tourists.

“Spain really does offer everything that a second homeowner wishes for: sunshine, spacious properties in traditional Mediterranean styles, affordable flights, beautiful beaches – it’s all here. With record levels of tourists coming to Spain last year, we expect even greater demand for our homes in 2018,” adds Mr Pritchard.

The Costa Blanca saw its popularity rise once again in 2017 not only with holidaymakers, but also second home buyers from all over the world.

A 50% year-on-year rise in Costa Blanca sales was recorded by Taylor Wimpey España in November 2017, with more than 20 nationalities purchasing.

The Costa Blanca attracts those with a budget between €170,000 and €210,000. The historic fishing village of Torrevieja has become a hotspot for Russian buyers attracted by developments such as La Recoleta III whilst Scandinavian buyers are already registering their interest in the next phase of the hugely popular Brisas de Alenda Golf development in Elche.

Also popular are Mallorca, Costa Blanca and Costa del Sol. Benahavis is one area to watch – one of the Costa del Sol’s most exclusive areas, located In Malaga, and known for its high-class restaurants and fine cuisine.

The quiet town of Santa Ponsa, on Mallorca’s southwest, is another up-and-coming destination. It offers panoramic views of the Mediterranean Sea and the Santa Ponsa III golf course.
 
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