New Spanish Property Boom Forecast
July 28th, 2006
Statistics show Spain is emerging from a past low-confidence spell and is still a thriving holiday destination, as ripe for property investment as it was before. The figures are plain to see: the number of airline seats to Malaga has risen by 2.2 million this year, and an increase of nearly 40% in the amount of air traffic to Malaga alone underlines this increase. In addition, new figures from the Spanish Airports Authority (AENA) reveal that the number of passengers who arrived in Spain in 2005 on low-cost airlines nearly doubled that of 2000.
The European Navigation Organisation, Eurocontrol, has recorded 50 low-cost airlines operating from 22 different countries in Europe, 15 of which have as many as 50 daily flights to Spain.
Torremolinos on the Costa del Sol has recently been recorded as welcoming 10% more tourists than the rest of the Malaga area in May, making a very favourable situation indeed for property investments in tourist areas of the Costa del Sol.
Meanwhile other markets are opening up in the more rural locations around Granada, where investors are finding good value for money and promising returns when selecting in the right locations. The Atlantic Costa de la Luz is also currently receiving much attention while it is only an hour from the Costa del Sol and offers some outstanding natural beauty, lower prices and a natural, authentic tourist location.
With between 800,000 and 2 million European citizens forecast to buy property in southern Spain in the next five years, it is inevitable that investment in property in Spain will continue to benefit from some very impressive growth figures for the foreseeable future.
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