House builder forecasts positive year for spanish property

A growing number of experts believe that the Spanish property market is showing signs of recovery following the well documented economic crash which has plagued numerous global property markets.

With a brand new year ahead, we ask award-winning Spanish property builders Taylor Wimpey España for insight into the future of Spanish property in 2012. With years of experience in building some of Spain's most highly regarded properties, Sales Manager Marc Pritchard suggests that the Spanish market has now reached the bottom and will move in a positive direction this year, highlighting a number of aspects that will aid Spain's recovery.

Sale prices in Spain for quality properties in prime locations were stable in 2011 and Pritchard indicates that this trend will continue into 2012 while properties in less popular inland locations that have reduced infrastructure or no views will drop further in price. Pritchard predicts that a greater number of lifestyle buyers will enter the second home market this year with very few looking for rental returns. He suggests that the average age of the property buyer will rise up to 55 years old signalling that lifestyle attributes will be of greater importance in 2012.

Furthermore, Pritchard explains that this year is likely to see inflation increase in the UK, with rising interest on bank accounts and unstable stock markets pushing British buyers, Spain's strongest market, into investing their money in Spanish property.

Finally, when it comes to Taylor Wimpey España this year, Pritchard comments, "We expect sales levels this year to be in line with 2011, however seeing as we will have additional sales outlets, new developments launching in 2012 and are covering the reinstated IVA tax now at 4% on new build properties until the end of February 2012, we are expecting sales numbers to increase making for an exciting year at Taylor Wimpey España."