Spanish property sales hit three-year high among overseas investors

Tuesday, May 15, 2012

Spanish property sales hit three-year high among overseas investors

4748 million Euros were invested in Spanish property by overseas property buyers in 2011, a 27% rise from 2010, according to new figures by Bank of Spain and developer Taylor Wimpey de Espana.

It was the second consecutive annual rise and the highest yearly rise since the boom. And the sales figures seem to be continuing upward, with figures from Taylor Wimpey showing that their sales figures are up 21% in Q1 compared to the same period last year.

While property professionals are cautious about overplaying the market's recovery, falling prices have meant more interest from overseas buyers, especially those from across Northern Europe, and Spain remains a favourite Brit holiday and investment destination.

“Prices across Spain are readjusting with sellers and agents pricing more reasonably,” agrees Mark Pritchard, sales and marketing director of developer Taylor Wimpey de España, adding that the country is becoming ever more attractive to buyers from Scandinavian and North European markets like Sweden, Denmark, Norway and Holland.

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A Place In The Sun