Taylor Wimpey closed 2009 with 175 home completions in Spain. What is your forecast moving into 2011?
Leading up to 2010 there has been less development by Taylor Wimpey de España in Spain and by developers generally across the country; therefore, in the prime locations especially stock is very limited. This has driven us to launch new developments and phases in the high performing regions such as Marbella on the Costa del Sol and with interest higher than it’s been for a long time the outlook for 2011 is very positive.

Are you saying that you have less stock of finished homes available?
When the downturn hit in 2008, we put a halt to new developments and focused our energy on finishing the existing builds, realigning our build strategy to suit market conditions. Today we are very close to closing sales for the existing stock built after 2008. In fact in 2010 properties have sold out in several developments such as Can Roses and Port Verd in Mallorca. Many of our current developments have only a few units remaining and to help the flow of sales discount pricing has been applied.

What new developments are you launching? What plans do you have for 2011?
Last February we launched our first new development since the recession started – La Floresta de la Mairena – very close to Marbella on the Costa del Sol. It has been extremely well received by clients seeking off plan investments, safe in the knowledge they are purchasing through an established developer. Since then we have launched the second phase at El Puerto in Cala D’Or (Mallorca) and Las Brisas at Alenda Golf on the Costa Blanca.

The Spanish property market recession has been well publicised throughout the UK and we have heard of several developers going into administration. What is the secret to Taylor Wimpey de España’s resilience through this difficult time?

The ‘secret’ is based on three factors
Firstly, our presence and knowledge of the USA market allowed us to assess the depth of this crisis earlier than our competition. Therefore, since 2008, we have been adjusting our prices to reflect the changing market conditions.

Secondly, our brand is key. The overseas home buyer today is significantly more sophisticated in terms of knowledge and research. They do their due diligence before even stepping on the plane which is a benefit to us as an established developer with a history of excellent developments and service. Buyers know that they are safe in our hands and security really is of huge importance.

Finally, we have an active network of estate agents throughout the UK and the rest of Europe. We have been able to earn their trust based on handling our relationships with professionalism and showing them we are committed to their requirements.

Regarding the Costa del Sol, what are your expectations?
Areas like Casares,  Manilva and Calahonda are still suffering from oversupply and will take much longer to recover, but if you are heading to a ‘premium’ location like Marbella or Benahavis, buyers will find that good product between €200,000 and €300,000 is already hard to find.

It is also very important to research a developer before you buy. With some still struggling to make ends meet we sadly have seen a number of people coming to us having lost deposits as their developer has gone into administration. Ensure your builder has financial stability before parting with any cash; this is especially relevant for off plan purchases.=

For information on purchasing property in Spain contact Taylor Wimpey de España
Tel: 08000 121 020; www.taylorwimpeyspain.com.