Sales of property on Spain’s Costa Blanca soared 91 per cent in 2016, according to one housebuilder, as the mood remains positive for the year ahead.
Taylor Wimpey España’s latest figures highlight an encouraging trend within the Spanish property market’s recovery with the homebuilder seeing sales on the Costa Blanca almost double last year.
That increase in sales arrives at a time when there is some speculation about a possible decline in demand for Spanish real estate, as British buyers face a less favourable currency exchange rate, due to the pound’s weakness following the EU referendum. Indeed, domestic buyers are leading the charge to Alicante and its surrounding coast, with Spanish buyers on Taylor Wimpey’s books jumping 260 per cent year-on-year.
However, British buyers are not beaten yet, with sales to UK buyers up by 60 per cent year-on-year, according to the builder. On TheMoveChannel.com, enquiries for Spanish property rose 115 per cent month-on-month in December 2016, while the country accounted for four of the Top 10 most searched-for locations in Q4 2016.
Speaking to TheMoveChannel.com about the year ahead, estate agent Golden Properties said that Brits are still active, but are compensating for the pound’s weakness against the euro by focusing on more affordable opportunities.
“It is yet to be clear what impact the recent devaluation of the pound will have long term on the Spanish market, especially in places like Costa Del Sol and other holiday destinations but we’ve been seeing a major increase in inquiries for Spanish properties under €50,000 from British investors,” they explained.
Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España, adds: “As both domestic and overseas buyers return to the Spanish market, the Costa Blanca is once again emerging as the firm favourite. It’s sought after sunshine, chiseled coastline and laidback lifestyle has granted the region a new lease of life and second home buyers are showing a real desire to be a part of it.”
“In response to buyer demand, we are delighted to be presenting our new development, Arenal Dream, to the market,” he continues. “Especially after the success of its neighbouring development, Jardín del Mar, which has now completely sold out in less than a year.”Google+