It seems the winter chill in the UK has sent Britons overseas in search of Spanish property. According to the latest figures, more and more people are turning their backs on a traditional Christmas in Blighty in favour of sunnier climes. Travel Cash claims that 24 per cent of people spending the Yuletide abroad are choosing a holiday or second home in Spain.
Marc Pritchard, sales and marketing manager of Taylor Wimpey Espana, explained that the house builder has already noted a gigantic increase in sales this month. “In the first two weeks of December alone we have seen a 116 per cent increase in sales compared with last year and enjoyed a record sales increase of 145 per cent in November, up 17 per cent overall from January to November 2012.”
This demand is expected to continue throughout the festive season, despite the current economic climate, and traditional tourist hotspots are once again proving popular. Taylor Wimpey Espana has already enjoyed a 74 per cent increase in sales so far this year in the Costa Del Sol.
These figures will be good news for those worried about falling house prices in the country, which show no sign of rising any time soon. The Global Property Guide reported that in June 2012, Tinsa’s IMIE general house price index plunged by 10.8 per cent from the same period in 2011. Since the December 2007 peak, prices have fallen by a shocking 30.4 per cent.
Figures have shown that the greatest drops have occurred in Capitals and major cities, with a reduction in average price of 13.5 per cent recorded year-on-year in June. However, the Mediterranean coast wasn’t far behind, with prices plummeting 13.3 per cent over the same period, while metropolitan areas witnessed a fall of 11.6 per cent year-on-year. The Balearic and Canary Islands have not been exempt from this downward trajectory, with prices dropping 6.8 per cent between June 2011 and June 2012.