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Surge of interest in Spain

Friday, April 16, 2010

Source: Catherine Deshayes

Taylor Wimpey Espana, the leading UK developer in the Spanish market has reported a significant rise in interest from British buyers seeking to buy holiday homes in Spain. Easter has traditionally witnessed a surge in interest from the UK market, April being just behind July as the best month for sales in Spain, but this year has seen a noticeable jump in enquires and sales...

Appointments to view homes across the whole Taylor Wimpey Espana's development portfolio are up by 40% compared to the Easter period of 2009. Interest is particularly strong in the Costa del Sol and in the Balearics evidenced by sales at the company's newest development, La Floresta de la Mairena outside Marbella, which are significantly ahead of target with a third of the properties sold off plan within the first month since launch.

After closing a first quarter in which they have doubled the number of sales against that in 2009, Taylor Wimpey Espana is looking forward to the arrival of a number English people in the coming days which the company expects to be reflected in increased sales in April.

Interestingly the company is also reporting that the profile of the typical British home buyer in Spain is not the traditional stereotype of a retiree. On the contrary, according to Taylor Wimpey Espana 75% of buyers are middle class executives, between 35 and 50, with a wife and children. More than 50% are looking for a second home for family holidays, attracted by the climate and culture. Although these buyers' stays are concentrated during the summer, on average they spend between 45 and 60 days a year in Spain. Typically buyers are taking a long holiday of 20 or 30 days between July and August and the rest in the weekends throughout the year. During their time in Spain buyers spend an average of 6,300 euros a year which covers the maintenance costs of the home and food and transport (70% rent a car).

Source: www.homesoverseas.co.uk/news