It’s not just Spanish footballers preparing for a busy summer season, as those in the construction industry celebrate an encouraging start to the year. The latest figures suggest that Britons have rekindled their love for the Costa del Sol…
Recent data from the Ministry of Public Works reveals that the number of licenses authorised for the building of new homes in Spain rose to 16,782 in the first quarter (Q1) of 2016.
This marks a huge 57.1% increase when compared to the same period last year, and the best quarterly result recorded since 2011. The boom in residential construction is believed to be a direct result of the significant return of overseas buyers to the Spanish market. Demand for overseas property continues to grow, particularly from those residing in neighbouring European countries.
Taylor Wimpey España also reports that the total year-to-date (YTD) sales, as of April 2016, have risen compared with last year, with British buyers increasing by 48%. As a growing number of Britons seek out their own slice of Spanish sun, it is the Costa del Sol that is proving most popular, with around half of buyers choosing to purchase a holiday home in that region.
The Sales and Marketing Director of Taylor Wimpey España, Marc Pritchard, believes it will be a scorching summer for property in the Costa del Sol, as momentum builds within the market.
He explains: “Construction within Spain’s residential sector is rising once more, as the demand from overseas buyers continues to strengthen the market. The Costa del Sol has always been a prevalent destination for Spanish holiday homes and is fast becoming the favourite once again amongst British second homeowners.
“As British buyers choosing Spain’s southern coastline increases, so too does the optimism surrounding the market, and we would expect this positive trajectory to continue throughout the rest of the year.”
One of the housebuilder’s latest additions to the Costa del Sol is the picturesque La Floresta Sur. Set in stunning surroundings, declared a natural biosphere reserve by UNESCO, the new phase of the development is situated near the village of Elviria and its beach, close to Marbella and Malaga.
Designed in a traditional Mediterranean style, the two and three-bedroom apartments and penthouses, costing from just €202,000 + VAT, include an Italian-designed integrated kitchen with Silestone worktops, thermal and acoustic insulation, and air-conditioning included. Benefitting from beautiful views towards the oak and pine forest, as well as towards the sea, the resort boasts two large communal swimming pools, landscaped gardens and external private parking.
The fourth phase of the development is due to be completed this summer and the remaining units are now available with an exclusive special offer – Taylor Wimpey España is including a fully equipped kitchen, shower screen and lighting furnishings with the purchase price.
With large terraces on which to enjoy the magnificent sea views, La Floresta Sur is a ten-minute drive from two of the best-known golf courses on the Costa del Sol – La Cala Golf Resort and Santa Maria Golf.
What are you waiting for? If you’re thinking of buying an overseas property in Spain, why not head to the Costa del Sol?
If you do decide to purchase a holiday home or permanent residence, remember to protect it with Overseas Property Insurance.