Tourism Figures and Buying Property in Spain

Investors who are considering buying a property in Spain have probably heard a great deal about this market’s reported cooling.  Although some buyers are going elsewhere, many are still finding the sun-drenched beaches and unique interior cities and villages are to their liking in Spain.  Whilst some investors are buying now only with an eye toward longer-term investment potential, Spain does remain of great interest to expats, holidaymakers and buyers and the nation should not be overlooked.

In this article we’ll take a look at the tourism figures and buying property in Spain based on the realistic potential of the nation.  The truth is, other developing real estate hotspots have taken a bit of the focus off Spain, but that doesn’t mean interest has really lessened that much - investors are simply adopting new strategies when buying Spanish property.

Spain has historically been Europe’s playground.  With its nearly year-round perfect temperatures, cosmopolitan cities and quaint interior towns and villages, this country’s list of appealing factors just goes on and on.  For years foreign investors have been snatching up property in the Costas, Barcelona, Madrid and other desirable locations.  With more than 300,000 Britons expatriating here and thousands of others arriving from different countries from across the world, ‘Spain’ and ‘getting away from it all’ have long been synonymous.  Other balmy destinations may have drawn media attention away from Spain, but Spain has really never lost its luster for many investors.

Whilst some say the Spanish market is heading for a crash, Nicky Segal from Propertyshowrooms.com, an international housing portal, says that just doesn’t seem to be on the cards.  Segal suggests that Spain has been and will remain a good market because it still presents a reliable and safe investment environment for Brits looking to buy overseas.  Its developed cities, ever-growing tourist trade and ample amenities tend to make this country attractive for investors, expats and holidaymakers alike.

The continuing strength of the Spanish tourism industry lends credence to the notion that Spain’s fire hasn’t gone out.  According to the World Travel & Tourism Council, Spain is anticipated to pull in EUR 225.4 billion in economic activity related to tourism in 2007 alone.  The future prospects remain high as well - the Council anticipates growth to continue at 3% per annum between 2008 and 2017 and what’s more, Spain continues to occupy the number two position in the world for the number of tourists received and the volume of sales and travel and tourism makes up 12% of Spanish GDP and is of massive importance to the Spanish economy .

Investors might need to rethink their Spanish property buying strategies a little, but counting this country out is not worth the bet.  From its pristine beaches to its beautiful mountains and historic sites, Spain still has what it takes to pull in expats, holidaymakers and buyers.  Considering this, the present holiday home and long-term hold strategies being employed by investors makes a great deal of sense.

If you’re thinking of buying property in Spain, chances are you’re going to find opportunity is still apparent; the market does appear to be changing, but it hasn’t stopped growing.

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