Regional News

Taylor Wimpey puts €95M in Spanish realty to appease British investors

By Silvia Castro Betancourt 0 Comments NEWS, Regional News

Taylor Wimpey €95M Spanish realty British investorsThis article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The British doubled in May the volume of homes acquired in Spain, which shows that the fear of Brexit is disappearing, according to the real estate developer.

Taylor Wimpey Spain will invest 95 million euros in the seven promotions for sale it has on the Costa del Sol. The real estate developer will strengthen its commitment to the coast of Malacca after verifying that the British, one of its main customers, have doubled their investment in housing in Spain.

"Demand is increasing in general," explains Taylor Wimpey Spain sales and marketing director Marc Pritchard. The executive also points out that "although the Brexit effect caused the British to buy less in 2017, the fear is disappearing."

Another important factor in the evolution of the buying and selling of homes by the British is the devaluation of the pound, which made last year the investment in Spanish housing for buyers from the islands.

However, Spain continues to be the preferred destination for the British to buy a house, as they emphasize from the Embassy of the United Kingdom in the country. Throughout Spain there are some 300,000 Britons and "remain the main foreign buyers of homes, representing 15% of the total," says Pritchard.

In the ranking of foreign nationalities that buy house in Spain, the British surpass the French, who represent 8.64%; Germans, with a rate of 7.77%; Belgians, who accumulate 6.39%; and Swedes, who remain as a historical investor taking 6.38%.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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