The Spanish property market is seeing a shift in buyer trends as demand in some areas remains high, according to the executives behind a brand new resort.
The country’s housing market has seen a slump in buyer numbers, with the number of properties on the market now thought to be as high as one million.
But property in some select areas appears to still be popular with foreign buyers, although they may now be demanding a higher quality of housing and value for money.
According to Champneys, which is building a new resort property scheme in Marbella (pictured), statistics from PropertyIndex.com show a 26 per cent rise in searches for Spanish housing between January and February compared to the same period last year.
Julia Norton, sales manager of the new Champneys Marbella resort, said: “I firmly believe that Spain is an enduring market and has something for everyone.
“I have seen however that buyers’ demands’ are changing – with such a glut of property stock available buyers are becoming far more selective about what and where they purchase.”
She added real estate buyers are not always looking for cheaper housing, but for well-constructed and well-located units with potential for a return on an investment.
The Champneys Marbella resort includes luxury duplex homes with access to a top spa with indoor and outdoor pools and 25 therapy rooms.
Other new property projects in Spain include a five-bedroom five-bathroom villa on three floors in Murcia at 6 million Euros ($8.04 million), to one-bedroom, one-bathroom apartments also in the Murcia region for 83,000 Euros ($111,289).
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