While the sales of property in
Spain might be continuing to fall, sales of luxury homes in the country are
buoyant. Buyers from Britain and
across Europe are snapping up luxury overseas property ââ¬â often for ââ¬1 million
or more ââ¬â with the quality of the Spanish property that is available attracting
wealthy buyers.
Luxury homes in Spain selling well
The Manchester Evening News cites the example of a luxury ââ¬2.2m villa
which has just been completed at PGA Catalunya, an hour south of
Barcelona. The development has two
golf courses and hosted the 2009 Spanish Open and wil include apartments and
townhouses as well as luxury homes.
The picture is the same in other parts of
Spain with luxury homes selling well.
A recent report from one of the Balearic Islandsââ¬â¢ top estate agents,
First Mallorca, showed that there had been 47 sales in the first five months of
2011 with an average selling price of over ââ¬1 million.
The report also revealed that a quarter
of the buyers were British, with Spaniards, Swedes and Germans also amongst the
main buyers.
Robert Maunder from First Mallorca said:
ââ¬ÅWe are enjoying an international clientele with precise requirements and
budgets for their investments. Volatile share and gold values are pointing
people once again to the security of bricks and mortar.ââ¬Â
Wealthy buyers are increasingly able to have
an input in the design and build of luxury homes and can have an overseas
property in line with their personal specifications.
Marc Pritchard from Taylor Wimpey
Espana is based on Mallorca and told the newspaper that buyers now are much
more astute. He said: ââ¬ÅPeople are no longer buying as an investment and looking
to make money. They are buying a place for holidays so location is the key. It
has been tough, but we are still doing sales because people know and trust our
brand.ââ¬Â
