Developer Taylor Wimpey Espana is trying to drive new investment by Britons in Spain, urging them to buy off plan units.
Sales and marketing director Marc Pritchard says 95% of the firm’s buyers purchase their properties off-plan.
“Off-plan sales are booming in Spanish hotspots in the Costa del Sol, Costa Blanca and Mallorca. Buying off-plan in areas like these, where demand is rising and inventories are tightening, enables buyers to lock in their purchase price early and often make a significant saving as a result” he says.
“It’s a strategic approach that carries the potential for capital gains before the buyer even sets foot inside their new home.”
The company insists buying off-plan doesn’t just deliver financial benefits in terms of potential capital gains and instant equity.
Staggered payments during construction mean buyers can spread the cost of their purchase more flexibly than they can when buying a resale property.
And Pritchard claims there is also the comfort of buying a home built to the latest modern standards, particularly in relation to energy efficiency and design regulations.
Taylor Wimpey España is now actively seeking land to develop in Spanish coastal hotspots and sought-after inland locations.
Pritchard continues:”The market is very busy right now, and we’re only just gearing up for the summer season, which is traditionally the busiest time of year for beachfront and golf properties here in Spain.
“We’re proactively seeking land plots in a number of strategic locations in order to service the future pipeline of demand.”
Pritchard recommends buying off-plan only with a long-established developer and likewise for legal and conveyancing.
He adds that It’s also worth asking about customisation options when buying off-plan. Depending on the stage of the development, you may be able to customise finishes, fittings and sometimes even property layouts.
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