For some holidaymakers, a trip to Spain is the start of a more long-term relationship with the country. Marc Pritchard, Sales and Marketing Director at leading Spanish home builder Taylor Wimpey España observes:
“Many of our buyers combine their first viewing of a show home with a holiday in Spain, which means that summer is a particularly busy time of year for second home sales. Families want to holiday here while also enjoying their own space, the flexibility to visit at whatever time of year they choose and the freedom to invite friends and extended family to stay. A second home ticks all of those boxes and more.”
Official figures reflect international buyers’ increasing appetite for property in Spain. The Spanish Association of Registrars (Registradores de España) reported that foreigners were responsible for 14.52% of total sales in Spain during the first quarter of 2023, compared to 13.17% during the same period in 2022. Many of these buyers are purchasing properties of €500,000 or more, which means they are eligible for Spain’s residency-based Golden Visa. In 2022, more than 9,000 international transactions were above this threshold.
Climate and lifestyle are top of many buyers’ priority lists when it comes to purchasing a second home overseas. Spain’s beaches and golf courses provide plenty of scope for an active outdoor lifestyle, while the 300+ days of sunshine in regions such as the Costa del Sol appeal to many buyers in rainier and colder countries. So far this year, Taylor Wimpey España has sold homes to buyers of 42 different nationalities, many of them keen to enjoy the Spanish sunshine.
This outdoor, sun-kissed lifestyle is a core part of the experience of owning a home at resorts such as Taylor Wimpey España’s Sunny Golf in Estepona, Malaga. The bright, spacious homes overlook the gently undulating fairways of Estepona Golf. There are communal gardens and a communal pool for spending time outdoors, while apartments also have large terraces that are perfect for relaxing in the sun. In addition, ground floor homes have private gardens, while penthouses have roomy solariums. Prices start from €245,000 plus VAT.
Attractive property prices (compared to many other European countries) add to Spain’s appeal as a second home destination. However, prices can vary significantly depending on where you buy.
“Prices in southern Spain range from superb value to rather eye-watering, depending on what you buy and where. When making the most of your budget is a priority, the Costa Blanca is an excellent choice. It’s home to both golf and beach properties, so buyers have plenty of choice.”
Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España said, “The apartments at Amara, in Gran Alacant, Alicante, showcase the value for money that the Costa Blanca can provide. Priced from just €205,000 plus VAT, the two- and three-bedroom homes surround two large communal pools, garden areas and a children’s playpark, set against the stunning backdrop of the sparkling Mediterranean Sea.
Mallorca has a reputation for being pricier than some of Spain’s mainland locations. However, the island also delivers surprising pockets of value for budget-conscious buyers, while also providing all the benefits of coastal living. Apartments at Compass in Cala D’Or on Mallorca’s southeastern coast, for example, are just 45 km from Palma airport and 1 km from the beach. The two-bedroom homes, which come with ample terraces (private gardens on the ground floor) and a communal pool, cost from €320,000 plus VAT.
Domestic appetite for property in Spain is strong at present, alongside international demand. This has led to prices for new build homes rising by 2.8% during the first six months of 2023. Meanwhile, Tinsa reports that property in Spain is 4.8% more expensive than it was a year ago. In some regions, the increase has been much higher – Malaga, for example, has seen price rises of 10.1% over the past year.
“Demand for property in Spain is certainly lively at the moment. And with the value of properties rising, it’s a good time to make a purchase. As a result, we’re seeing a steady stream of buyers enjoying summer in Spain and visiting our show homes while they are here.”
Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España