British interest in Spanish property more than doubles in a year

British interest in property in Spain has shot up over the past year. Leading Spanish home builder Taylor Wimpey España has reported that British reservations were up 120% in April 2024 compared to April 2023. Meanwhile, Spain’s Colegio Registradores shows that Britons bought more homes in Spain than any other foreign nationality in 2023.

Overall, British buyers accounted for 9.53% of all foreign buyers during the year, while foreigners snapped up 14.98% of all homes sold in Spain, according to the Colegio Registradores data. The positive trend has continued into 2024, with Taylor Wimpey España selling homes to 31 different nationalities so far this year, including a record number of reservations during April 2024.

New homes, it seems, are in particular demand. February 2024 figures from Spain’s Consejo General Notariado (Geneal Council of Notaries) show that total sales are up by 9.7% compared to the previous year – but for new homes, that figure rises to 20.83%.

As appetite for properties in Spain has grown, so have prices, which grew by 5% overall in the year to February 2024 and by 7.5% for new homes.

“The rise in demand for new homes reflects a growing appreciation for how energy efficient such properties are compared to older homes. It’s a win for the environment and for buyers looking to reduce their energy consumption. Increasingly, our buyers are proactively seeking ‘A’ rated properties, something we’re reflecting in our fabric first approach to designing and building new homes.”

Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España

Some areas of Spain are perennially popular with British buyers. The Costa del Sol has been a long-term favourite and currently accounts for more than 80% of all sales to British buyers, according to Taylor Wimpey España’s April 2024 year-to-date figures. Data from the Colegio Registradores reflects this too, showing British buyers accounting for 15.3% of all purchases by foreigners in Andalusia in 2023 – more than any other foreign nationality. British buyers were also in pole position in Valencia, while they took second position in the Balearics (which have long been a favourite with German holiday home buyers).

In the Costa del Sol, Taylor Wimpey España currently has a selection of key ready homes for sale. Penthouses enjoying a stunning lakeside setting with impressive sea views, just 5 km from the heady delights of Puerto Banús, are available from €950,000 plus VAT at Marbella Lake. The south-facing, three-bedroom penthouses feature enormous terraces for soaking up the sun, while owners also enjoy use of Marbella Lake’s delightfully landscaped gardens and four communal pools.

Penthouses are also ready to move into at Almazara Hills, providing stunning panoramic views of Istán’s Concepción reservoir and the coast of Marbella. Priced from €520,000 plus VAT, the properties are rated ‘A’ for their energy efficiency and provide easy access to the Sierra de las Nieves Natural Park, a national treasure and UNESCO Biosphere Reserve.