Investors snap up Spanish homes as Alicante development sells out

Property investors have been busy purchasing properties at the La Vila Paradis development on the east coast of Spain.

The development, built by Taylor Wimpey España, is located in Villajoyosa in Alicante on the Costa Blanca.

La Vila Paradis was built in four phases, providing a total of 134 properties, with homes marketed from 2013 and the final property selling last year.

Its first line, two and three-bedroom apartments and three-bedroom townhouses at Playa Paraiso provide direct beach access and sea views, as well as a communal pool and landscaped gardens.

Taylor Wimpey España says buyers have been a mix of those using properties as holiday homes and those living on the Costa Blanca all year round.

Over a fifth of homes were sold to Russian investors, with Belgians, Norwegians, Spaniards and Swedes also buying 10% or more of the development's properties.

Meanwhile, British buyers accounted for 5% of the development's total sales.

"It's always an exciting moment to sell the final property in a development – particularly so when it's been a phased build over several years," says Marc Pritchard, Taylor Wimpey España's sales and marketing director.

"Sales at La Vila Paradis reflect the broad range of interest in the Costa Blanca, with people from across Europe and beyond seeking their own piece of the Spanish sunshine."

"The area has so much to offer – beaches, golf, shopping, history, culture, incredible gastronomy… its charms appeal to young and old alike, making it the ideal family holiday hotspot," says Pritchard.

"We've seen this reflected in the popularity of our developments there over the past decade and it's why we intend to continue focusing on this area during the 2020s."

Taylor Wimpey España says that another of its Costa Blanca developments, Panorama Mar, is set to perform strongly this year.

Two and three-bedroom properties with sea views and spacious terraces are available from €345,000 plus VAT.

The Spanish arm of the housebuilder says that it will also be building along the Costa del Sol and in Cadiz, along with 'key hotspots' in Mallorca and Ibiza.