According to a customer research conducted by Tripwell, 7 out of 10 Swedes rent their home abroad to cover costs. However, the right property in Spain can generate much more than just “covering costs” , it should be noted that in most areas of Spain, despite its great popularity, it is difficult to obtain a good occupancy rate . But with the right property in the right area (and the right marketing through third parties, or on the right portals on your own) you can make a very good real estate investment in Spain.
Spain is now considered to be the safest tourist destination in the world, and since many of those who chose Turkey, Greece or Thailand now choose to enjoy their vacation in Spain. Spain is now the second most popular tourist destination in the world (after France). In 2016, Spain had 75 million visitors, in 2017 there were 82 (!) Millions of foreign visitors. This was the fifth consecutive year that the record was broken. One big reason why the numbers are increasing so dramatically is that more and more people visit Spain every month of the year, not just in the high season. The most incredible thing is that it is believed that the roof is far from being reached.
Another trend is that international luxury tourists have opened their eyes for Costa del Sol. Costa Blanca tourism, for example, is also growing strongly, but low-budget tourism has so far prevailed in this part of Spain. The three largest regions for international tourism are Andalusia (mainly the Costa del Sol), Valencia and Catalonia. Then follows the Canary Islands and the Balearic Islands (with Mallorca at the forefront, however, which is collapsing rapidly, and TUI will reduce capacity there by 30% in 2019).
In 2016, building construction accounted for 10% of Spain’s GDP. In 2017, it grew significantly, investing €1 billion in new developments on Costa del Sol alone. It will probably never start building again at the same pace as it did in 2007, before the crisis. But clearly there are many construction projects underway, and it is speculated that within a few years they will be at a production rate of 400,000 newly built houses per year.
Prosperous Spanish tourism, good infrastructure and low prices for high-quality real estate have made Spain very attractive to international investors. But tourism and the quality of housing in Spain vary greatly by region, city and neighborhood. So let’s take a closer look at the different Spanish areas.
If you are interested in investing in real estate in Spain, you can contact us and one of our advisors will personally handle your case and be with you throughout the process. We have a great and experienced team of consultants and lawyers at your disposal.
Original text written by Jan Nilsson – Marketing Director Spanska Fastigheter