British Investor Activity Increases in Costa Blanca

British Investor Activity Increases in Costa Blanca

Taylor Wimpey is the third-largest construction company in the UK. It shows the highest investment activity in the Spanish real estate market.

Contrary to gloomy forecasts, Taylor Wimpey released data for October and announced that UK property bookings in Spain had reached their highest level since 2015.

What is more, demand from the UK last month surpassed the number of transactions in any other country for the first time since February 2020, when the pandemic began, confirming the trend. In August, September and October, there were more UK resale bookings in Spain than in the same months. 2019.

Taylor Wimpey’s subsequent investment in Spain will be in Costa Blanca: the company will allocate 17 million euros to construct a residential complex in Torrevieja, on the Punta Prima beach.

The company will build 48 apartments with two and three bedrooms and two bathrooms, overlooking the sea with terraces, storage rooms and parking spaces.

The territory of the residential complex will have:

  • many green spaces;
  • three swimming pools;
  • children’s playgrounds;
  • direct access to the waterfront.

Opposite the new residential complex is another one, built by the British developer “Panorama Mar”. This project is in addition to three others that the construction company is implementing in different parts of Costa Blanca in Alicante. In Xabia, it plans to begin commissioning the first houses in March 2023 in 74 apartments with 2 and 3 bedrooms in a residential complex.

Next to Alenda Golf, just 10 minutes from Elex and 15 minutes from Alicante, it is building Kiruna Residencial, 3-bedroom, 2-bathroom townhouses with large terraces and communal gardens, within a residential complex. The developer expects to complete the first phase in February 2022 and the second one in a year.

The company itself recently confirmed the excellent state of the British real estate market. The third most prominent real estate developer, Taylor Wimpey, announced that its current total order book is around € 2.8 billion ($ 3.79 billion), up from € 2.7 billion in 2019.

The High Wycombe-based company has confirmed its forecast for annual operating income of around £ 820 million, with a UK housing start-up target of 13,200 to 14,000. In Spain, in addition to projects on Costa Blanca, the company is planning new projects in Mallorca and the Costa del Sol.

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