Turkey’s Hotel Association Declares Spain Biggest Winner as Germans Head to the Costas

Turkey’s Hotel Association Declares Spain Biggest Winner as Germans Head to the Costas

With uncertainty around the world, tourists

continue to head to safe havens  of the Costa Del Sol 

The terrorism and political strife affecting Turkey is causing Germany holidaymakers to avoid the country according to TÜROB; the Hotel Association of Turkey. The benefactor of all of this has been Spain.

TÜROB say that bookings for holidays in Turkey from German tourists has dropped by 58% across the past 12 months, with holiday makers heading for Spain to enjoy the relative safety and sun.

Even though Turkish holiday resorts haven’t been hit by the same terrorist attacks as Tunisia in 2015, there is still plenty of concern about general security, with several attacks across the past 12 months in Istanbul, a failed coup during last summer, and an government on the verge of becoming a dictatorship.

Holidaymakers from Britain and Ireland have already been put off, which boosted the Spanish tourism sector to record numbers as people began to avoid Tunisia, Turkey, Egypt, and Greece to a lesser degree.

The Turkish hotelier has begun to notice that the bookings from Germany are also on the downswing. 2014 saw a peak of 3.9 million holidaymakers from Germany. The figure dropped to less than 2.5 million last year, and it’s expected numbers will fall again in 2017.

TÜROB prisdent Timur Bayindr commented that German bookings in Spain are quite high, there has been a sharp decline in the Turkish and Egyptian market. If there is a winner to be seen in this game then it is undoubtedly Spain.

Bayindir added Turkey expects that arrivals from the other EU nations – such as Spain, France, Belgium, and Austria – will continue to fall. However, he does expect a potential increase in tourism from Russia, Iran, and the Middle East.

The Germans have had a long-standing love of Spain, especially Majora. German tourists also tend to be the biggest spenders and stay longer than tourists from other European nations, making them great for the Spanish tourism business.

Spain has now been recorded to be the sixth biggest real estate investment market worldwide.

Spain has now been recorded to be the sixth biggest real estate investment market worldwide.

Property for sale in Costa del Sol and the overall real estate market in Spain has now become the sixth biggest worldwide with regards to sales volumes confirmed by CBRE consultancy company annual data.

Spain

The real estate market in Spain came in 16^th in 2013 and 11^th in 2014 but has risen to 6^th place last year due to the remarkable sale growth of 2015 and has been seen in many other regions of the country.

Spain is showing a higher interest in property purchases than China, Canada and even France according to figures, this has begun bringing high investment companies like George Soros a leading US billionaire to look into the commercial sector in Spain.

The CBRE predicted that the Spanish property market in 2015 was to have a total investment of up to €13 billion, this would surpass the Spanish record of 2007 which was €10 billion just before the market crash took place.

Due to the much needed transparency and changes made to Spain’s real estate market, this has made for a much healthier sector and has deflected any unethical investors who affected the property market with artificial price inflation.

Within the residential property market, the rise in prices have been steadily increasing in the right way, this reflects on the sector that value for money and reduced properties in the Costa del Sol that are available shows when purchasers can make a good investment when buying good quality properties in the highly sought out areas of the world.

CBRE have said that the Spanish market is one of the places that property purchases will give investors a good return on rental income and also through capital gains making it more profitable than the real estate sector in the UK for example.

Confidence is flooding back to the Spanish market especially buying property in the Costa del Sol, CBRE data show that some of Spain’s capital is now making its way to overseas real estate with figures showing that half of last year reached €1.3 billion – showing a bigger investment overseas than richer countries such as Japan and Norway.