Record Number of Scandinavians Flocking to Spain Property

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The European market may still be in the doldrums, but home builder Taylor Wimpey is reporting a more than 300 percent increase in the number of Scandinavians buying homes in Spain.

"The interest from Scandinavian markets continues to boom as buyers take advantage of favorable exchange rates and reduced Spanish house prices," said Marc Pritchard, sales and marketing director of Taylor Wimpey España, a subsidiary of the U.K. builder.

Sales to Scandinavians were up 311 percent in 2012 compared to the previous year, the home builder says. The trend has continued in to 2013, with January sales to Scandinavian buyers up 300 percent.

The Costa del Sol was the most popular region among the Scandinavian buyers, attracting 46 percent of the buyers. But the Costa Blanca saw a 35 percent increase in Nordic buyers, the company says.

Scandinavians now rank as the fifth largest buying group for Taylor Wimpey España, a market which is traditionally dominated by British and German buyers.