Big jump in number of foreign residents buying property in Spain

Sales to foreign residents increased by 25pc in the third quarter of 2011, according to figures from the Government (Fomento), a sign of growing confidence say leading Spanish house builders Taylor Wimpey España.

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The figure takes into account all foreigners who live and resident in Spain while further statistics show that the provinces with the greater number of purchases by foreign residents were Alicante (2097), Malaga (951), Barcelona (607), Balearics (516) and Santa Cruz de Tenerife (476).

Some industry experts think the trend will continue as foreign house-hunters living in Spain hunt down bargains and take advantage of tax breaks. Poor returns on cash in the bank are also encouraging investors to turn back to property.

“The increase in property sales to foreigners in the last quarter of 2011 shows that many have been discerning enough to strike while the iron is hot and purchase properties that are well priced and in excellent locations,” explains Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España. “It is looking likely that prices in Spain will begin to increase by the end of 2011 with places like Tenerife and Malaga seeing property values improve signaling good news for the Spanish real estate market next year.”

There are other signs that foreign demand is on the up. The Holiday Lettings’ “Insight Report for 2011” identified a 3% increase in the number of enquires about buying Spanish property between January and October this year compared to the same period in 2010, while revealing that holiday let opportunities in Spain was the second most popular enquiry among buy-to-let investors (after the UK).

For those who are thinking about making a Spanish property purchase next year, Taylor Wimpey España has some superb homes available in Mallorca, the Costa del Sol and the Costa Blanca to spice up 2012.

Calpesol, Calpe, Costa Blanca

The Calpesol residential complex in Calpe, Costa Blanca is comprised of stunning houses with gardens and communal swimming pools affording three bedrooms and two bathrooms with roofed sun terrace and private parking costing from just €165,000.

Los Robles de los Arqueros II, Benehavis, Costa del Sol

Los Robles de los Arqueros II, in Benhavis, Costa del Sol offers 2 and 3 bedroom, 2 bathroom apartments with amenities including a swimming pool for children and adults as well as community gardens and underground parking all surrounded by a prestigious 18 hole golf course costing from €227,000.

El Puerto II, Cala D´Or, Mallorca

Located on the south east coast of Mallorca, very close to the glamorous Marina de Cala D’Or El Puerto II consists of 2 bedroom apartments costing from just €195,000. With 3 communal swimming pools available these properties are surrounded by outstanding natural beauty offering various other activities such as water sports, biking and golf in the local area.

Stylish homes in Spain! Contact Taylor Wimpey España on 08000 121 020 or visit www.taylorwimpeyspain.com. Outside the UK call 00 34 971 706 244.

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About Mark Stücklin

Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on ms@spanishpropertyinsight.com.