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| Spain has had another record breaking summer |
Foreign investment in Spanish properties was pushed up to
€888 million during the first half of the year, much higher than the amount
spent during the first half of 2016; a paltry (by comparison) €330 million.
JLL believe that overseas investors will snap up over €1
billion in Spanish property during 2017, which would make 2017 the eight year
in a row where foreign investment in Spanish real estate has increased.
Spain has been moving at full speed as far as tourism goes
for several years now, but the latest data from the INE shows some 36.3 million
tourists visited Spain during the first half of the year – which is the time
BEFORE the busy summer months of July and August.
This puts Spain in the position to smash through records set
last year, and could mean over 80 million tourists visit the country in 2017,
which would push Spain into the top spot for global tourism.
There was another trend evident in the data; the connection
between foreign property ownership and tourism. Around 8.5% of the tourists
staying in Spain in 2017 did so in their own holiday accommodations; properties
that had been purchased to be holidayed in. This marks the highest this figure
has ever been, and it’s only going to increase.
It’s been a decade since the real estate crisis happened but
now the Spanish property market appears to be thriving. People see the benefits
of owning a Spanish property such as being able to better enjoy holidays and to
relocate entirely. There’s no doubt Spain is set to see another record breaking
year for international investment.
