British love of Spain creates investment opportunities
The British love affair with Spain is creating plenty of opportunities for investors looking to get into the holiday let market. Taylor Wimpey Espana explained that, as tourism numbers rise, there are plenty of chances for savvy buyers to generate new income. Conditions are particularly ripe as property prices remain low and lending levels start to improve, albeit slowly. For budding landlords, this means yields can easily be maximised on high-spec properties in the right location.
Data from Spanish tourism department statistics agency Frontur has shown a record number of foreign visitors arrived in the country between January and July 2013. In the first half of the year, 34 million arrived on Spanish soil, with the British leading the charge. This is the highest number in almost two decades and a 3.9 per cent increase on 2012. In July alone, 7.9 million visited Spain, up 2.9 per cent from the year previous. Of these, 1.8 million were from the UK. France and Germany are also showing increased activity in the country, with 1.2 million vistors each.
Marc Pritchard, sales and marketing manager for Taylor Wimpey Espana, said: "This comes as great news for the Spanish economy as tourism plays such an important role in GDP. It is also a promising sign for the EU as a whole as evidently consumers are feeling more financially confident and are spending money on holidays abroad. Here at Taylor Wimpey España we have seen this confidence also extend to the property market as visitors look to make their stay more permanent in favourite holiday destinations across Spain."
The Costa del Sol is proving to be particularly popular with investors, but Andalucia has witnessed the greatest jump in tourism numbers, meaning there are opportunities to be had in the region. In July, one million tourists arrived in Andalucia, an annual rise of 8.5 per cent. With many domestic airlines introducing extra flights to the region, tourism numbers are only set to get greater, meaning rising demand for holiday properties.
Data from Spanish tourism department statistics agency Frontur has shown a record number of foreign visitors arrived in the country between January and July 2013. In the first half of the year, 34 million arrived on Spanish soil, with the British leading the charge. This is the highest number in almost two decades and a 3.9 per cent increase on 2012. In July alone, 7.9 million visited Spain, up 2.9 per cent from the year previous. Of these, 1.8 million were from the UK. France and Germany are also showing increased activity in the country, with 1.2 million vistors each.
Marc Pritchard, sales and marketing manager for Taylor Wimpey Espana, said: "This comes as great news for the Spanish economy as tourism plays such an important role in GDP. It is also a promising sign for the EU as a whole as evidently consumers are feeling more financially confident and are spending money on holidays abroad. Here at Taylor Wimpey España we have seen this confidence also extend to the property market as visitors look to make their stay more permanent in favourite holiday destinations across Spain."
The Costa del Sol is proving to be particularly popular with investors, but Andalucia has witnessed the greatest jump in tourism numbers, meaning there are opportunities to be had in the region. In July, one million tourists arrived in Andalucia, an annual rise of 8.5 per cent. With many domestic airlines introducing extra flights to the region, tourism numbers are only set to get greater, meaning rising demand for holiday properties.
PUBLISHED : 04TH SEPTEMBER 2013
