The Spanish subsidiary of Taylor Wimpey generated an operating profit of €37.75 million in 2019, up by 10% YoY. In terms of transaction volumes, it delivered 323 homes in total and ended the year with 217 reservations.
The company, which specialises in coastal housing with a particular focus on foreigners, believes that the market will tend to stabilise this year; “In terms of the average sale price, we see that house buyers are increasingly demanding larger, higher-quality properties. The average sales price stood at €429,000 in 2019, compared to €344,000 in 2018,” said sources at the company.
The same sources share the opinion of the experts who perceive that 2020 will be characterised by stability in terms of real estate transactions and growth in terms of house sales, of around 5% to reach 650,000 transactions. Taylor Wimpey’s forecasts for the new home market, which it estimates will grow by around 18%, has led it to launch its second development of the year. Iconic is a residential complex comprising 170 apartments located in Cabo de Santa Pola. The firm plans to invest €35 million in the development, which has an expected delivery date of October 2021.