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.

Brits Grabbing Spanish Package Holidays in Record Numbers

Brits Grabbing Spanish Package Holidays in Record Numbers

With the fantastic climate and wonderful Mediterranean cuisine

its no wonder more and more Brits are coming to Spain. 

One of the main summer staples of Brits is the idea of the complete package holiday. They offer a well-priced week or two in the sun for the whole family to enjoy. They’re also hassle free as travel, dining, and leisure is taken care of in advance. 

Spain has been the primary destination for Brits booking holidays across the past few decades. Even so, there have been a few times it looked like the country might have been about to lose their package holiday crown.

Cheaper alternatives emerged, such as Tunisia, Turkey and Bulgaria; placing heavy pressure on the Spanish resorts. Then came Greece, Italy, and Portugal; that offered something new and exciting for Brits to enjoy by virtue of being “not Spain”. 

This period of uncertainty was not to last however. Europe and the Mediterranean alike were hit by the global credit crunch. Even though Spain had a harder time recovering than other countries, the tourism industry wasn’t nearly as badly damaged.

As prices fell across Europe following a period of employment uncertainty and job losses, cash-strapped Brits stayed starved for some sun and fun, and they continued to prove their loyalty to the Costas. Spanish tourism remained strong between 2008 and 2013 – and even increased dramatically during 2014.

After a record-breaking 2016 Spain is ready and willing to welcome even more tourists during 2017. This is partly down to the unfortunate death of Egyptian and Tunisian reports as a result of security threats and terrorism – but a good majority of it is down to the excellent weather of the country, along with the affordability, accessibility, and high quality of the resorts in the country. 

British holidaymakers have always been fans of this combination, which would explain why the number of package holidays in Spain booked as of June 24 is already 270,000 higher than for the same point last year; at least according to the data from Gfk Leisure Travel Monitor. 

The statistic represents a growth of almost double that seen in Greece; the second-most popular package holiday choice for Brits. It also puts Spain well ahead of other favourite destinations including Croatia, the Caribbean, Cyprus, and Portugal.

The data also showed that holiday bookings for the USA, Egypt, and Turkey have fallen compared to this time last year. America can put this down to the Trump Effect, while Turkey and Egypt can put it down to terrorism concerns.

Record Sea Temperatures Noted in Spain as Mercury Soars

Record Sea Temperatures Noted in Spain as Mercury Soars

The summer in the Costa del Sol is in full swing

with temperatures rising 

The stunning coastline of Spain is brimming with warm water, which is great news for those predisposed to cold water.

It looks like the idea of taking a cool dip in the Mediterranean Sea might not be on the menu following water temperatures reaching 24.3ºC off the coast of Almeria.

While the temperature of the water remains around 10 degrees less than the air temperature, it’s still warmer than much of the water across Europe and is the highest sea temperatures have been in Spain for over a decade.

Buoys across the Cantabrian, Mediterranean and Atlantic coastlines have been registering temperatures higher than usual as the summer really kicks in. Across the north, off Cabo Silleiro in Galicia, sea temperatures reached 19.9ºC; the highest temperature ever and around 1.25ºC higher than last June.

The buoy at the Bay of Biscay in Bilbao registered temperatures of 23.5ºC, while water temperatures in Tarragona to the northeast of Spain reached a high of 27ºC across the weekend.

The temperature down at the Costa del Sol is a little cooler thanks to the waters of the Atlantic Ocean moving along the Gibraltar straits.

Marine experts are assessing the changes in temperature and believe that there’s currently no reason to concerned as water temperatures between June and September are typically between 23 and 27 degrees. 

It’s inevitable that modern records will be matched – or indeed broken – given the current temperatures and lengthening days.

Costa del Sol Smashes Record for Hotel Overnight Stays

Costa del Sol Smashes Record for Hotel Overnight Stays

The Costa del Sol continues to smash all records

The Costa del Sol has a great range of hotels visitors can stay in, but this is often overlooked when ranking the charms of the region. It was the Costa del Sol where the concept of having a home in the sun was born after all. The region became so internationally renowned thanks to all the great properties on offer.

Even so, holidaymakers have always enjoyed the many delights of the Costa del Sol from a comfortable hotel room. Given the surge in popularity for Spain as a whole recently, it’s only right to expect an increase in demand for hotel rooms.

The Costa del Sol Tourism Board recently released data showing that the region has never seen more demand for overnight stays. 2016 was the first time ever that over five million people booked an overnight stay in a hotel in the region.

This number was an increase of 5% over 2015, and was fuelled by an increase in British, French, German, and Scandinavian tourists flocking to the Costa del Sol for a night or two. Or seven.

The president of the Tourism Board – Elias Bendodo – says there were 1,013,161 Brits staying at the Costa del Sol in 2016. This was an increase of 11.1% over 2015, and is another reminder that Brits love Spain as much as they ever did; even with all the worries about the weak pound and the Brexit.

All 17 Spanish Regions Record Increase in Property Sales in November

All 17 Spanish Regions Record Increase in Property Sales in November

Spain continues its property recovery

Every one of the 17 autonomous communities in Spain recorded an increase in property sales during November 2016 compared to 2015, according to the latest data from the National Statistics Institute (INE).

While some less-famous Spanish regions had the occasional sales slump, this clean-sweep of November growth shows just how far the Spanish property market has come in 2016. The total rise of properties sold in November was 17.3% higher in 2016 compared to 2015; for a total of 33,806 property transactions.

The pace of the growth varied from region to region. Home sales in the Balearics were up 32.8% over the space of a year, with the Canary Islands experiencing a 26.3% increase and Aragon and Asturias reporting 25% growth.

When looking at the 11 months of 2016 leading up to November, the data from the INE shows an increase of 14.6% in sales activity compared to the same 11 month period in 2015, as some 372,000 homes changed hands.

The data from November is no different from the other months. Outside of the occasional blip, Spanish property sales have increased month-on-month for almost 26 straight months.

This reversal of fortunes is a great sign of just how much confidence there is in the sector – driven by both an increase in domestic demand and the ever-present desire for foreigners looking to have their own second home in the Spanish sun.

Every Tourism Record Ever Broken in Costa del Sol

Costa del Sol is booming and continues to break all records

Every Tourism Record Ever Broken in Costa del Sol

2016 was certainly a bumper year for tourism in Spain and nowhere was this more evident than in the Costa del Sol. There was so much tourism, in fact, that the president of the Turismo Costa del Sol tourism authority Elías Bendodo announced in a press confidence

that the province saw their highest visitor numbers ever. To put it into actual figures there were 10.2% more visitors to the region in 2016 compared to 2015, which was itself a year record. It boils down to 12,000,000 visitors, 26,000,000 overnight stays, and a grand total of €11.1 billion spent.

The amount of domestic tourists to the Costa del Sol was up3% year-on-year, while foreign tourism increased by the much more impressive figure of 15.7%. As has become tradition, British tourists made up the bulk of Spanish tourism; accounting for 2.6 million arrivals; which is up 16.6% over 2015. Overall visitors came from 19 different countries including Poland, Russia, Sweden, Romania and Hungary.

Bendodo believes that, just as 2016 broke all the records of 2015, 2017 could break all the records of 2016. In order or this to happen things have to be handled just right. The true challenge will be to retain these record breaking numbers for the years to come.

Andalucian Airports in Spain see a record growth in passenger traffic!

Andalucían Airports in Spain see a record growth in passenger traffic!

The year 2016 is seeing a major boost to the number of tourists visiting Andalucía and the numbers just seemed to increase in February too!

Malaga Airport

All the airports combined of Andalucía saw a total of 1,243,314 passengers flying in a total of 14,760 flights in February. Compared to the previous year, the number of tourists has jumped up by 16.2%, with the count being 2,374,543 passengers.

Malaga

The statistics revealed by Spanish Airports and Air Navigation (AENA), Malaga was the busiest airport in the region during the first two months of 2016 and the total traffic was 1,527,221 passengers. This is a 15.7% rise when compared to the passengers it handled in the last year during the same period.

A total of 12,646 registered flights operated in the Malaga area, making it the highest for this region. Also, this indicated a growth of 11.9% when compared to last year.

As per officials from the Costa del sol Malaga airport, the airport continues to attract more traffic and the trends have been the same since the end of 2015. Overall, the passenger traffic went up by 17.8% and the number of flights operated increased by 14.5% when compared to the statistics of previous year.

Other Regional Airports

Seville stood at the second position which handled 599,541 passengers, making it the second busiest airport. The rise compared to previous year was 15.5% and the number of flights operated increased by 3.3% over the past year, making it handle a total of 6,355 recorded flights.

Granada Jaen or Fedrico Garcia Lorca saw 107,734 being handled, which was a 12% increase and Almeria airport handled 78,484 passengers,  registering a whopping growth of 35.4%.

In the case of Jerez de la Frontera or Cadiz, the increase was 21.3%, attracting passenger traffic of 60,137. However, only Cordoba was the airport in Andalucia to report a fall of passengers handled by 3.4%, taking the count to 876 passengers.

Passengers

A high number of passengers took commercial flights, accounting for 790,747 of the total passengers. The increase in international travelers was 16.8% when compared to the statistics of 2015.

Domestic flights accounted for 146,834 passengers, which represents a 21.7% increase in the number of travelers. The domestic flights operated in Spain also went up by 17.9%.

UK attracted the largest number of international passengers and the count stood at 226,819. Germany stood second with a total of 68,753 passengers, while Netherland came third with 46,908 passengers.

 2016 looks set to be a record year for holiday makers and northern Europeans looking to buy property in the Costa del Sol.

Costa-del-Sol-Malaga-airport-sees-record-growth

Mortgage Approval in Spain sees record rise in 2015

Mortgage Approval in Spain sees record rise in 2015

Spain witnessed the largest year on year increase in the number of mortgage approvals in 2015, as the rise was 19.8%, the steepest ever since they started to keep a record from 2003 which is great news for investors wanting to buy property in the Costa del Sol and Spain.

As per the statistics revealed by INE (National Statistical Institute), it is a clear indicator that the economy of Spain is back in track ever since the decade long slump after real estate market crashed in 2008.

Record number of mortgages approved in Spain in 2015

Ever since the global recession in 2008, people in Spain have continued to remain unemployed, started working for lower pays and also lost their financial security due to the global turmoil. However, due to the market scenario improving since 2014, the economy of Spain has been improving and has seen a growth rate of 3.2% in 2015, making Spain one of the best performing economies among the EU countries.

Following the recession, property prices saw a sudden cut of 40% on an average. It has only been improving since then and also, people now have job security. Banks have started to offload the properties they forcefully had to buy during the recession. All these statistics prove that the economy of Spain has been improving steadily.

Data released by INE also revealed that the total capital all over Spain borrowed as mortgages stood at €25.9 billion, which is a 24.1% increase compared to the previous year.

However, the mortgages borrowed were highest in 2006 just before the crash, which stood at a whopping €188.3 billion. Going forward, the growth is only bound to increase and home loans have registered an increased growth continuously from the past 19 months and investment properties are being bought in Spain.