Scandinavians Devour Spanish Property

Spanish realtor Taylor Wimpey Espana reports that Scandinavian buyers are snapping up Spanish property and experts believe it’s a combination of law house prices and available wealth among …

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Spanish realtor Taylor Wimpey Espana reports that Scandinavian buyers are snapping up Spanish property and experts believe it’s a combination of law house prices and available wealth among Scandinavian buyers, which account for one-fifth of all Spanish property buyers. Some realtors are reporting increases of 300% or more in buyers hailing from Norway and Sweden, particularly of properties in the area of Costa del Sol. Analysts expect the trend to continue as more people take advantage of low prices to purchase their dream vacation homes. For more on this continue reading the following article from Property Wire.

There has been a large rise in the number of Scandinavian people buying new property in southern Spain, particularly the Costa del Sol.

One leading house builder has seen a 311% increase in Scandinavian purchasers and they now account of a fifth of all buyers. Taylor Wimpey España properties also says that 46% of Nordic buyers favoured the Costa del Sol in 2012.

One reason is that the Scandinavian countries have in weathered the financial storm better than most and more potential buyers are able to invest in property.

The firm believes that the trend seems set to continue into 2013 with January sales figures already up 300% on those for the same month in 2012 and the cumulative February sales up 500%.

‘The interest from Scandinavian markets continues to boom as buyers take advantage of favourable exchange rates and reduced Spanish house prices to purchase their dream second home abroad. Scandinavians, particularly those from Sweden and Norway, now make up over a fifth of our buyers in Spain, a huge increase on previous years,’ said Mark Pritchard, Sales and marketing director of Taylor Wimpey España.

The Costa del Sol area has proven particularly popular, favoured by 46% of Taylor Wimpey España’s Nordic purchasers in 2012. Pritchard said that the area’s coastline, bustling cities, direct flights and scenery makes it very attractive along with property at very good prices.

An example is Los Arqueros Beach in Marbella, a new residential complex of two and three bedroom apartments situated four minutes from the seafront promenade, three minutes from the ancient part of San Pedro de Alcantara and five minutes from the Los Arqueros Golf and Country Club.
 
The apartments are described as having high quality modern design and have wide terraces, elevators, a spacious solarium, underground parking and two swimming pools all included in the purchase price which starts from €195,000.
 
But the Costa del Sol isn’t the only area to capture Scandinavian buyers’ interest. ‘The scenery and laidback lifestyle of the Costa Blanca are attracting an increasing number of Scandinavian clients. Our buyers there were up 35% in 2012,’ said Pritchard.

An example of the kind of properties here that are attracting buyers include the new beachfront La Vila Paradís apartments on the Costa Blanca which have direct access to Paraíso beach.

They have sea views, landscaped communal gardens, a pool and private parking, with two and three bedroom apartments starting at €249,000.

This article was republished with permission from Property Wire.

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