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Demand for Spanish property more than doubles in a year

Demand for Spanish property more than doubles in a year
Christina Hoghton
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Christina Hoghton

There's been a sharp rise in Brits reserving their own place in the Spanish sun, according to Taylor Wimpey España.

The homebuilder said that British interest in Spanish property has shot up over the past 12 months, with reservations on its properties up 120% in April 2024 compared to April 2023.

Meanwhile, Spain’s own data from its ‘Colegio Registradores’ shows that Britons bought more homes in the country than any other foreign nationality in 2023.

British buyers accounted for 9.53% of all foreign buyers during the year, while foreigners snapped up 14.98% of all homes sold in Spain, according to the data.

New homes prove popular

New homes are in particular demand, said the builder.

February 2024 figures from Spain’s ‘Consejo General Notariado’ show that total sales are up by 9.7% compared to the previous year – but for new homes, that figure rises to 20.83%.

House prices are also up in line with demand. Overall prices grew by 5% overall in the year to February 2024, but by 7.5% for new homes.

Marc Pritchard, sales and marketing director at Taylor Wimpey España, said: “The rise in demand for new homes reflects a growing appreciation for how energy efficient such properties are compared to older homes. It’s a win for the environment and for buyers looking to reduce their energy consumption.

“Increasingly, our buyers are proactively seeking ‘A’ rated properties, something we’re reflecting in our fabric-first approach to designing and building new homes.”

Location, location, location

The Costa del Sol is a long-term favourite and currently accounts for more than 80% of all sales to British buyers, according to Taylor Wimpey España’s April 2024 figures.

Data from the Colegio Registradores reflects this too, showing British buyers accounting for 15.3% of all purchases by foreigners in Andalusia in 2023 – more than any other foreign nationality.

British buyers were also prevalent in Valencia and the Balearics.

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