Scandinavians flocking to Spanish property market
By James Roberts

Scandinavians flocking to Spanish property market

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Scandinavians are entering the Spanish property market in their droves, according to Taylor Wimpey Espana. The estate agent witnessed a 311 per cent rise in the number of people from the country buying their properties alone in 2012, while Scandinavians now account for a fifth of Spanish real estate purchases across the board thus far in 2013.

As expected, it is popular coastal resorts attracting Nordic buyers, with 46 per cent opting for properties in the Costa del Sol in 2012. Taylor Wimpey Espana this interest is continuing this year and January sales for the firms Spanish properties were up 300 per cent on the same month in 2012. Cumulative February sales were also up 500 per cent.

Mark Pritchard, sales and marketing director of Taylor Wimpey Espana, commented: "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."

Scandinavia's dominance is no doubt thanks to the economic resilience of the country, allowing investors to enjoy a degree of financial freedom. With those nations traditionally active in Spain facing economic complications, the path is clear for Scandinavians to enter the breach.

Costa Blanca is one location prime for Nordic investment and Mr Pritchard explained that more and more people from Scandinavia are choosing to invest in the area. "The stunning scenery and laidback lifestyle of the Costa Blanca are attracting an increasing number of Scandinavian clients. Our buyers there were up 35 per cent in 2012," he said.

To satisfy demand, Taylor Wimpey Espana is now offering brand new beachfront La Vila Paradis apartments, with access to Paraiso beach in the Villajoyosa area. Buyers can also enjoy landscaped communal gardens, pool and private parking - ideal for holiday let investments.

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