Sunny outlook for spain's property market

Marc Pritchard, Sales and Marketing Manager of Taylor Wimpey España suggests that the Spanish market will move in a positive direction in 2014, highlighting a number of aspects that will aid Spain's recovery.  

Sale prices in Spain for quality properties in prime locations could be nearing the end of their fall according to several reports released in recent weeks. Indeed, the Ministry of Development reported that during Q3 2013, homes recorded their lowest drop since 2010 - even becoming more expensive in several regions. Pritchard indicates that this trend will continue into 2014 while properties in less popular inland locations which have reduced infrastructure or no views will drop further in price.

 Indeed, the perception that the housing market is nearing the end of its adjustment is gaining in popularity. According to the Consumer Confidence Indicator for November, prepared by the Centre for Sociological Research, 46.4% of those surveyed think that Spanish housing prices will stabilise over the next year, signalling a boost of confidence in the market.

When it comes to Taylor Wimpey España's performance this year and forecasts for the year ahead, Pritchard comments: "2013 will be a hard year to beat as here at Taylor Wimpey España we experienced a huge increase of sales across the Costa del Sol, Mallorca and the Costa Blanca over the last 12 months.

 "We are expecting sales levels in 2014 to be in line with 2013 however, seeing as we will have additional sales outlets and several new developments in the pipeline across all three regions of Spain in which we operate, coupled with the fact that prices in prime locations across each area have now bottomed out and will not fall any further, we are hoping sales volumes to increase making for an exciting new year."