Developer sees property sales increase in Spain

One major developer in Spain has revealed that it saw an increase in sales of 50 per cent over the course of 2010.

Taylor Wimpey de Espana has announced that the official end-of-year figures were particularly bolstered by sales to those looking to buy property in the Balearic island of Mallorca.

"Mallorca has seen particularly positive figures due to two important factors," said Javier Ballester, managing director of the firm.

"Firstly, we were not hugely overstocked as the recession hit so the supply and demand was always in our favour. Secondly, Mallorca is still considered a unique place and in many ways superior to some of the mainland destinations."

Mr Ballester added that foreign buyers had been convinced to enter the Spanish real estate market as a result of the price adjustments that have been experienced in the sector.

Some homes in Mallorca, for example, have seen reductions of up to 25 per cent, he added.

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