Holiday Price Rise Next Year According to Thomas Cook

Spanish Popularity My Lead to 5% Holiday Price Rise Next Year According to Thomas Cook

Malaga airport has broken all records again for

tourists visiting the Costa Del Sol 

Leading travel agent Thomas Cook told British holidaymakers that the average trip to Spain in 2018 will cost around 5-10% more than it did compared to last year because of the increased demand and the pound being weaker.

As British, Irish, and Scandinavian holidaymakers begin to forgo other areas of the Mediterranean due to the threat of terrorism, Spain has seen record numbers of visitors. The official data shows that 2017 was the best year ever for Spanish tourism. This increase in demand also means that supply may have trouble keeping up however. This is why Thomas Cook believes holidays may be up to 10% more expensive in 2018.

Thomas Cook remarked that there was evidence holidaymakers will continue to snub Egypt and Turkey – despite the resorts in those countries being cheaper than Spanish resorts. Safety will always win over affordability, according to the travel agent. While the pound may weaken against the euro even more next year, the amount of British visitors going to Spain in 2018 isn’t likely to change, according to Thomas Cook Chief Executive Peter Fankhauser.

The executive also added that Spanish hoteliers are to take advantage of the unique position Spain is in by increasing their prices, but did add that many of them would use the additional profits to improve their facilities and expand upon them to guarantee long-term gains over short-term profits.

New Market Value Data Shows 4.3% Price Increase for Spanish Properties in October

Spain property prices continues to grow in value 

New Market Value Data Shows 4.3% Price Increase for Spanish Properties in October

The latest data from Spanish property valuation firm Tinsa has shown that the average Spanish property price in Spain increased 4.3% in October of 2017 compared to 2016.

The statistics are for the entire country, meaning there are some regional variations to take note of, particularly the increase of 6.4% in provincial capitals and large cities like Barcelona, Madrid, and Malaga.

An interesting thing to note is that properties close to the Mediterranean coast have only increased 0.9% in market value for October over last year. This is somewhat of a blunt measurement by Tinsa however as anyone who lives on the Costa del Sol can tell you that not every Mediterranean region and resort is created equal.

Costa del Sol properties tend to increase at a steadier pace than in other areas. There are less peaks, but there are also less troughs, meaning that Tinsa putting all Mediterranean regions into a single category is somewhat misleading.

With this said, this category has also seen a 4.3% increase in home values over the first ten years of the year over the same period of time last year. That gives a better picture of how the markets in the Mediterranean are doing.

The market value data from Tinsa was published with a snapshot of different market indicators. Other statistics show that mortgage approvals improved 13.2% leading to August over the same period last year; a 7.91% reduction in employment to date in 2017; and the rather encouraging statistic that property sales have increased 14.3% in 2017 up to August compared to the same period of 2016. 

Spanish Property Puts a Price on the Feel-Good Factor

Spain has been recovering from its worst crisis since Franco day 

and continues to do well in all sectors.

Spanish Property Puts a Price on the Feel-Good Factor

The raw data and the statistics gleaned from it might be effective for showing the strength of particular trends, but less tangible emotions come into play with things as life-altering as purchasing Spanish property. 

When analysing the most recent positive data for Spanish property from last month, the leading property consultant of Knight Frank mentioned that what they called the “feel-good factor” had quite the positive impact on both the prices and amount of sales of property in Spain. 

But just what is the “feel-good factor”? Is it possible to measure it? Or could it be considered the general sense of excitement about the current state of the Spanish economy?

Think about the last time you took a great holiday. You might not remember how much you spent, when your flight was, or even which hotel you stayed at. What you will remember though is how warm the sun was and how that made you feel; how you were relaxed when you felt the sand between your toes, and the wonder of al fresco dining with a warm evening breeze. 

The Spanish property sector is being washed with similar positive waves. There’s no doubt that rising house prices, increased sales volume, and interest in property from home and abroad underpins the overall positive vibe, but there’s a real sense that it’s Spain’s time to shine under all the hard data.

There are some problems in the country of course, but Spain is certainly beaming after spending about a decade as the poor man of Europe. The effects are starting to spread to the Spaniards themselves, who now have more job security and better pay than they’ve seen in over a decade. Even the average holidaymaker and homebuyer is benefiting, as they have a wealth of choice, affordability, and quality waiting for them in Spain. 

The summer may have ended for much of Europe now, but the sun is still shining – both figuratively and literally – across Spain and it looks like it’s not about to set any time soon.

May Data Shows 5.3% Property Price Increase Across Spain

May Data Shows 5.3% Property Price Increase Across Spain

The Spanish property market continues to grow

The latest figures from the Spanish National Statistics Institute (INE), published just last week, reveal how average property pricesin Spain during May rose 5.3% higher than during May of 2016.

The increase continues the near-two-year trend that prices have risen year-on-year for over 20-months straight.

The latest INE data shows that price increases are actually accelerating, with the average monthly increases topping between 2.5% and 3%. The reason for the sharp increase is mostly down to the price increases seen in Barcelona and Madrid; where prices have risen 8.8% and 10.6% over last year. The two largest cities of Spain are benefiting brilliantly from the strengthening Spanish economy, bringing in great investment into the privateand commercial real estate sectors.

There is more encouraging news as property prices across the 17 autonomous communities of Spain are all up, even though some of the rises – such as those in Extremadura, Murcia, and Galicia aren’t very big.

First quarter data from before May also shows property prices increased 2.3% over the previous quarter, marking the seventh quarterly increase in a row and showing a sharp rise for the small amount of time it happened in.

Property experts and analysts welcome the increases. Even though Spanish property prices are around 40% lower than the peak of 2008, the sustained increases showcase how the post-boom market has begun to reflect true value, offering the banks, mortgage lenders, and homeowners the peace of mind they need.

5% Increase in Price for Spanish Properties Predicted by CBRE

5% Increase in Price for Spanish Properties Predicted by CBRE

Real estate experts CBRE believe that Spanish house prices could rise by up to five percent on average during 2016. More houses are being sold and built which is bringing up house prices.

CBRE annually release a Real Estate Market Outlook and their most recent one highlights a series of positive indicators for the residential resale housing market in Spain. Their report has found that more homes will be sold and built leading to less unsold properties in Spain over the whole year.

Great news for sellers as prices are expected to rise

The main thing to come out of the report is the expectation that the average house price in Spain will rise by 5.9% on average with a 6.3% peak rise in the third quarter.

CBRE also expect that 20% more properties will be sold in 2016 over last year, putting power behind the claim that the Spanish property market has recovered.

One area of the market that hasn’t seen this increase yet is the new build sector. Even so CBRE are confident that as many as 60,000 new homes could be built in 2016, which would be an increase on the 45,000 homes built in 2015. This is still less than the previous peak of 160,000 homes per year though.

The trends are still positive and point to plenty of growth. Madrid, Barcelona and Costa del Sol property in Andalucía for sale have always been the most prominent parts of the real estate market and this year they will be joined by Bilbao, Valencia, and Malaga as the demand for property has gone up in these cities.

The CBRE does have some warnings though. The main problems are the slightly decreasing population of Spain, a lack of confidence in buyers, and an economy that is still fragile. These should temper the optimism that people feel but this report, when taken with other studies and statistics from Spanish real estate institutes, serve to add to the belief that property in Spain has become a good investment once more. Now is the time to buy or sell your home in Spain as more buyers and investors are fuelling the market.

Spanish Properties prices are increasing