The cranes are on the move once again in Spain, as the construction sector finally picks up its tools following a seven year pause. October 2014 saw the sector register a 13.9% increase in activity compared with a year earlier, according to Eurostat, while financial advisors Arcano have pegged real estate and construction as two of the driving forces behind the Spanish economy in 2015.
Only the biggest and the best in the sector carried on building through the downturn, as Marc Pritchard, Sales and Marketing Director for leading Spanish homebuilder Taylor Wimpey España, explains,
“The past few years certainly haven’t been easy for Spain’s construction and real estate sectors. Many developments were simply left mid-construction when the hard times hit and it has taken until now for a lot of companies to have both the confidence and the financing to begin building once more.”
Taylor Wimpey España, which is the Spanish arm of FTSE 100 listed homebuilder Taylor Wimpey, continued building throughout the crisis years and was rewarded with strong sales figures as a result. While domestic demand may have dwindled, many overseas buyers remained keen to pick up second homes in Spain and the company found that its signature blend of beach access, pools and high end properties was the perfect combination to meet the needs of those looking to buy.
“It really felt like we were the only ones still building at some points,” continues Pritchard. “So it was great to see the sector picking up again late last year. I think 2015 should see it come surging back to something like its former glory as there’s pent up demand for new properties. This year should definitely mark a turning point for the Spanish construction and real estate industries.”
A recent report from independent financial advisors Arcano supports Taylor Wimpey España’s thinking, highlighting real estate and construction as two of the most significant engines of economic growth in Spain in 2015. The company has predicted a resurgence of both house prices and residential building in Spain this year, driven by improved financing and mortgage options, foreign investment and recovering domestic demand.
Taylor Wimpey España is certainly expecting big things during 2015. Its Miraval development, which offers a rare opportunity to purchase a high end apartment near the fantastic La Cala Golf Resort at Mijas Costa (on the Costa del Sol) is tipped to be one of the most popular this year, with seven of the 27 units having sold already. The apartments enjoy large terraces (gardens on the ground floor), golf and sea views and a southerly orientation. Prices start at €245,000 and completion and handover is scheduled for October 2016.
Over on the Costa Blanca, key ready properties are available at Las Brisas de Alenda Golf, in sight of the spectacular Sierra de las Aguilas mountains. Select properties enjoy direct access to the stunning Alenda Golf Course, while the beach is just 15 minutes away. As with all Taylor Wimpey España sits, pretty gardens and a communal pool complete the offering. Prices for a three bedroom/two bathroom home are from €145,000.
With both construction activity and house prices on the up, no doubt many buyers will see early 2015 as the optimum time to buy their dream property in Spain, while bargains like these still abound.
For more information please contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.