According to data from the Ministry of Development, authorised licences to build new properties skyrocketed by 27 per cent in the first nine months of 2017 with the number of new build homes in Spain amounting to 60,695 compared to the same period in 2016.
This increase in the construction sector is another encouraging sign for the Spanish property market. Applications for apartment blocks dominate the new build market being the direct result of the significant return of overseas buyers.
Spanish home builder Taylor Wimpey España, is leading the way in new-build homes in Spain. In the face of any Brexit uncertainties, Taylor Wimpey España has continued to deliver beautifully designed homes, having completed 301 units last year (349 including Joint Ventures).
“Residential construction is rising once more as demand from overseas buyers continues to strengthen the market. British buyers are leading the market’s revival and we plan to extend our portfolio this year with a variety of new developments perfect for those looking for high quality holiday homes in the most popular areas of Spain,” said Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España.
The picturesque Panorama Mar on the Costa Blanca is a prime example of the high-quality properties that are driving the residential construction boom. Just a few metres from the sparkling sea of Punta Prima, the beach apartments’ prices start at €279,000. The development is expected to complete by November 2018.