Spain Welcomes Record Numbers of Tourists and Foreign Property Activity in First Half of 2017

Spain Welcomes Record Numbers of Tourists and Foreign Property Activity in First Half of 2017

Spain has had another record breaking summer 

The Spanish property market and tourism industry is performing as well as ever, according to the latest data from Jones Lang LaSalle (JLL) and the National Statistics Institute (INE). The data shows that several records were broken during the first half of 2017. 

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.

Madrid Welcomes First Nap Bar in Spain

Madrid Welcomes First Nap Bar in Spain

Does the new nap are have any legs ? 

Spain treated the world to the siesta, and the world responded with the soul-crushing 9-5 office life. Spanish workers were forced to burn out in a strip-lit open office where they can’t even rest their eyes without having someone look down on them.

The siesta hasn’t died off just yet – especially in the more rural regions of Spain – but it has become more difficult for Spaniards to find the time for one. No doubt these Spaniards are going to embrace the new nap bar opening in Madrid to cater to those looking for that blessed mid-afternoon nap.

The Siesta and Go bar is inspired by similar concepts that can be found in Tokyo, Dubai, and London; three places where everyone understands the value of a well-rested worker. 

Patrons at the bar can enjoy going an hour’s sleep for as little as €12-14 per head, with both single and double rooms on offer. Of course, these establishments might be enjoyed by patrons looking to move their office flirtations into the next level, but these nap bars are primarily intended to be used as a place for tired workers to rest and recharge their batteries. 

The 19-room Siesta and Go is located in Azca; the financial heart of Madrid. Workers are able to walk in and ask for vacancies or book a stay in advance. The rooms at the bar are similar to hotel rooms in that they are regularly cleaned with fresh bedding. Staff are ready and willing to wake you up if you have trouble getting up on time as well. 

Siesta and Go also features a lounge filled with comfortable chairs, coffee, and newspapers, allowing customers to just walk in and get awayfrom the Spanish sun when it gets unbearable.

2017 Welcomes Four-Year-High for Spanish Property Sales in January

2017 Welcomes Four-Year-High for Spanish Property Sales in January

Spanish property continues to be buoyant

Not many people consider January to be the ideal time to do a bit of property hunting. It may be the month of January sales, but there’s a big difference between the high street and the Spanish property market.

With that said, official data from property registrars in Spain has shown 38,457 homes were sold during January in Spain, making it the single best January since 2013 and an overall increase of 18.1% compared to January of 2016.

The January property sales of this year are so strong that, if it wasn’t for the artificially created rush for demand of January 2013 (caused by upcoming changes to tax legislation) then it would be around a decade since the figures were this high.

On the regional level, the markets in Cantabria and the Balearics were the homes of the highest year-on-year growth, with growths of 45.1% and 40.5% respectively. An interesting statistic is that there was actually less demand for property in 2016 for the Canary Islands.

With such a strong start to the year, Spain is set to deliver a powerful performance on the property front during 2017. The figures from January are just one part of a larger trend showing how the 410,000 home sold in Spain over the past 12 months represent a stunning 15.6% increase over the past 12 months, with even more growth forecast for the next 12 months.