Real Estate News | Europe Residential News
Spain's Property Market to Rebound in 2012, Say Local Experts
By Scott Kauffman | January 12, 2012 9:15 AM ET
(CALPE, SPAIN) -- A growing number of experts believe that the Spanish property market is showing signs of recovery following the well documented economic crash which has plagued numerous global property markets.
At least that's how Taylor Wimpey Espana sees the upcoming year in Spain.
With years of experience in building some of Spain's most highly regarded properties, Marc Pritchard, sales and marketing manager of Taylor Wimpey España, suggests that the Spanish market has now reached the bottom and will move in a positive direction this year, highlighting a number of aspects that will aid Spain's recovery.
Sale prices in Spain for quality properties in prime locations were stable in 2011 and Pritchard indicates that this trend will continue into 2012 while properties in less popular inland locations that have reduced infrastructure or no views will drop further in price.
Pritchard predicts that a greater number of lifestyle buyers will enter the second home market this year with very few looking for rental returns. He suggests that the average age of the property buyer will rise up to 55 years old, signaling that lifestyle attributes will be of greater importance in 2012.
Furthermore, Pritchard explains that this year is likely to see inflation increase in the United Kingdom, with rising interest on bank accounts and unstable stock markets pushing British buyers, Spain's strongest market, into investing their money in Spanish property.
"We expect sales levels this year to be in line with 2011," Pritchard added. "However, seeing as we will have additional sales outlets, new developments launching in 2012 and are covering the reinstated IVA tax now at 4 percent on new build properties until the end of February 2012, we are expecting sales numbers to increase making for an exciting year at Taylor Wimpey España."
The Calpesol residential complex in Calpe, Costa Blanca is prime property, according to Taylor Wimpey. Comprised of stunning houses with gardens, this development affords communal swimming pools and three bedroom and two bathroom properties with roofed sun terrace and private parking costing from just $209, 847 or 165,000 Euros (plus no VAT) until Feb. 29th.