Property News

Spain Attracts Foreign Property Buyers

Spain Attracts Foreign Property Buyers
Eurostat’s 2011 data on outbound flights within Europe show that a majority of people were flying to Spain, which means the country remains a top destination spot for travelers within the European Union (EU). One Spanish house builder familiar with construction starts in Costa del Sol reports that a majority of interest for the resort community is coming from Russia and Scandinavia as buyers seek bargains for holiday home purchases. The builder, Taylor Wimpey Espana, reports a 300% increase in purchases in some areas. For more on this continue reading the following article from Property Wire.

Russians and Scandinavians are the biggest group of foreign buyers on the popular Costa de Sol so far this year as new figures show that Spain is still the top holiday destination in Europe.

Eurostat, the Statistical Office of the European Union, found that in 2011 some 13% of all outbound trips within Europe where made to Spain with Italy and France coming in joint second place. These figures do not include holidaymakers outside of the EU, however, and total visitor numbers are likely to be much higher.

Estate agents believe it is good news for the property market as buoyant tourism sectors often driving local property markets and statistics from the Bank of Spain show that international property investment in Spain grew by 17% to more than ?5,445 million in 2012.

Spanish house builder Taylor Wimpey España has found that most interest is coming from Russian followed by Scandinavian buyers. ‘Russian interest in particular has increased dramatically over the last year. On the Costa del Sol alone, 45% of the total sales this year have been from both Scandinavian and Russian buyers,’ said the firm’s sales and marketing director Marc Pritchard.

‘Marbella in particular is one of the most popular places for foreign nationals to buy property in Spain. Here at Taylor Wimpey España we have experienced a 300% year on year increase in sales in the area, proving that demand for Spanish real estate shows little sign of abating anytime soon, with non residents of the country increasing their market share for six consecutive quarters now,’ he explained.

He believes that Marbella is popular both as a holiday and second home destination because it has a perfect location between the mountains and award winning beaches, as well as offering warm temperatures long after the summer time crowds have departed. He points out that it also has world class golf courses, excellent shopping and delicious Andalucían food.

Currently proving popular is La Floresta de la Mairena near the village of Elviria and close to both Marbella and Malaga.

The two bedroom apartments and three bedroom penthouses are situated in an UNESCO natural biosphere reserve and have two large communal swimming pools, landscaped gardens and external private parking.

Avalon is a new Taylor Wimpey development situated in one of the best areas of Marbella, the prestigious Los Arqueros golf course, and 20 minutes from Estepona. It has two and three bedroom apartments and penthouses with sea and golf views, a communal swimming pool and gardens.