The national buyer establishes itself in the coastal residential market

The Spanish represent 9% of the reservations of the year, with a growing trend, according to the promoter Taylor Wimpey. During the Covid-19 pandemic and with the mobility restrictions, the foreign client was unable to buy a home on the Spanish coast. However, domestic buyers registered a large increase. Many wanting to change their home for one with more open spaces, green areas and views of the sea or nature. Two years later, the Spanish client continues to rise in the housing market and is consolidating. For the promoter of British origin, Taylor Wimpey Spain, the national client represents 9% of its reservations for the year, at the end of June. With a trend that, from the company, they see growing. Either because of the change in preferences for more spacious homes far from urban centers or because they see housing as a refuge value, given the increase in inflation, the reality is that the national customer continues to buy. Regarding the preferred areas, according to the latest statistics from Taylor Wimpey Spain, Spanish buyers prefer the Costa Blanca and the Costa del Sol. Another of the trends that emerged during the pandemic, virtual visits to show apartments, also continues to rise. Despite the removals of all restrictions that covid brought us, clients continue to request virtual tours. For buyers who do not live in the area, it is more comfortable to make a first virtual visit and see if the home meets their preferences. On the other hand, for those who decide to visit the show flat, it is a great opportunity to see the finishes and materials of the houses that are under construction. Herein lies the importance of show flats for the marketing of new construction. Even, depending on the progress of the work, the client can customize the home. And when finished, there is also the possibility of buying the show flat and/or its furniture. Show flats “make it easier for marketers to sell homes that are still being built because buyers can imagine what their future home will be like,” says Marc Pritchard, Director of Sales and Marketing at Taylor Wimpey Spain. They can also see “first-hand the quality of the materials and finishes, as well as the location and the environment that surrounds the homes,” adds Pritchard. SOURCE: Real Estate Observatory 07/13