Does Spanish tourism have a flow on effect to real estate Spain? The healthy tourist numbers since the start of 2011 could be indicative of a trend that gives further confidence to the Spanish property market.
Spain is top of the list for many holidaymakers:
- Travellers love the relaxed and friendly atmosphere of the cities, towns and islands of Spain.
- They appreciate the consistency and comfort of the weather, and find the country an easy place to arrive at or to depart from.
- Visitors talk about the delicious foods, and how easy it is to get around either within a city like Madrid, or between places, like those hopping from a Barcelona property to a holiday spot on Ibiza real estate.
2011 has already started to look like a bumper year for Spanish tourism. The first quarter of 2011 has seen a solid increase in tourist numbers compared with the same three months in 2010. Recently-released April 2011 figures for airport passenger arrivals show the trend continuing.
This April, passenger arrivals into Spanish airports were 20% higher than for the same time last year. The increasing number of visitors to Ibiza was even more pronounced, with the 266.241 arrivals adding up to a 32.9% increase on 2010 numbers.
“All the signs are that 2011 is going to be a great season on Ibiza,” confirms Alix Bond from Lucas Fox’ Ibiza office. “Holiday rental companies and hotels are already reporting an increase on occupancy from last season with a notably higher demand for luxury villas in the Cala Jondal and Es Cubells areas.”
Tourism can play an important role in increasing the stability and opportunity of a property market. This year’s tourism could be a good news indicator for real estate Spain broadly, while the first four months of the year are buoying the scene in Ibiza. As Alix points out, tourists need accommodation, so a regular flow of holidaymakers can promote a healthy Ibiza property rental market.
“In recent years, Ibiza has focused on attracting more luxury tourism to the island and the positive news for the property market on the island is that many of these holiday makers will go on to buy property on Ibiza. There is a great buzz about Ibiza and Ibiza real estate at the moment. The high level of interest in renting and buying is definitely helping to make Ibiza property an interesting investment with great rental potential and the possibility of capital growth in coming years.”
With the summer months approaching, a strategic property investor would do well to keep one eye on the tourist numbers and one on the rental property vacancies. Weighing up the two may be one of the most useful factors in identifying the best time to buy Ibiza real estate.