Among the various interesting trends that we have been seen in the property market in Spain in recent years, one of those that we reckon will particularly fascinate some of those looking to buy property on the Costa del Sol is the increasing popularity of new builds.
That is the observation of one key Spanish property market figure, Nigel Salmon, who told Murcia Today that while old farmhouses and “fixer-uppers” were continuing to attract interest, many prospective buyers in 2017 were looking to newly-constructed properties.
Why are buyers increasingly turning to new builds?
Salmon attributed the trend to a range of factors, including the high quality of new builds in a period that is seeing rising construction standards – “because the builders know that quality sells”. However, he also said that “we’re seeing more and more people who want to be the ‘first owner’ of their Spanish property. There’s clearly something about walking through the front door and everything being untouched by other occupants that is attractive to buyers.”
Another factor is a shift in the kinds of homes that are now typically being built in the country: “It used to be that new homes in Spain were largely designed to recreate a particular idea of traditional Spanish living, which you would see in the details such as the choice of tile and flooring, and so on.
“However, there’s a growing gap between older properties and the new-builds. We’re seeing more modern design and decor. Maybe it’s the global influence of IKEA but here in Spain, there’s a growing desire (among both Spanish and foreign buyers) for cleaner lines, more minimalist styling, something altogether more Northern European.”
Referring to his own property agency, Salmon added that at a recent trade show, “85% of the enquiries we were getting were about new-build properties.”
Whatever your tastes in Spanish property, contact Winkworth
With valuation firm TINSA recently revealing a 1.8% year-on-year rise in Spanish property values – the 11th monthly rise over the past year, as well as the largest – it seems that now is the time to buy property on the Costa del Sol, particularly if you have your eye on a new build.
When you wish to make a move into Spain, work with Winkworth – the estate agent that truly listens to you and serves you swiftly and efficiently, in accordance with your own specific requirements for Spanish property.