- Record 36.3 million tourists visited Spain in H1 2017 (National Statistics Institute)
- 2017 on course be the 8th record year of foreign buyer growth in Spain (JLL)
- Number of foreign tourists using their own holiday homes for accommodation up 8.5% (INE)
- German, Scandinavian, British and Russian buyers most active (Taylor Wimpey Espana)
Spain is set for record breaking tourism and property investment levels in 2017. Spain’s residential market continues to be in good health, with JLL forecasting 2017 as the eighth consecutive year of foreign buyer growth. As well as foreign investment in property, the first half of 2017 has also been a record breaker for Spain’s tourism sector with the National Statistics Institute reporting 36.3 million tourists visited between January and June, a 12% rise in comparison to the same period in 2016.
Overseas buyers lavished €888 million in Spanish Properties in H1 2017 compared to the previous year’s record of €330 million for the same period. Total investment for 2017 is expected to exceed €1 billion according to JLL.
The National Statistics Institute has also highlighted an 8.5% increase in foreign tourists using non-market accommodation. The majority of those who visited (8.6 million) came from the UK, while 5.5 million were from Germany, a 9.1% and 10% rise over the same period last year respectively. The number of tourists visiting Spain whilst using the housing of relatives, friends or their own is also even higher than the number of tourist’s traditional market accommodation such as hotels or rental properties.
Marc Pritchard, Sales and Marketing Director of Taylor Wimpey Espana had commented “A decade on from the crisis and Spain’s property market is not only back on its feet but thriving. The appeals of owning a second property in Spain, be it to enjoy holidays with friends and family or to relocate to has endured and I have no doubt that the country will welcome another record year of international investment.”
In line with the observation mad by JLL, Spain’s leading homebuilder Taylor Wimpey Espana, is also seeing growth in international buyers. Taylor Wimpey Espana homes across Spain have been purchased by more than 15 different nationalities to date in 2017. These include German, Scandinavian, British and Russian buyers being the most active. To cater to such a diverse international buyer demand, TWE’s website is now available in 8 different languages. Of all destinations, the Balearic Island of Mallorca is one Spanish destination attracting a great deal of interest. There’s interest from both tourists (20% increase in UK visitors recorded in May 2017 in comparison to the same month last year) and also foreign property buyers. TWE’s exclusive new development Camp De Mar Beach, situated perfectly in the south-west of the isle, just 30 minutes from Palma international airport, is receiving particular interest.
The final phase of the hugely popular development consists of 3 bedroom Mediterranean style townhouses that include underfloor heating, air – conditioning and solar panelled water heating. Also included are communal gardens and a large modern swimming pool.
Camp de Mar Beach is located in the heart of the well-known Andratx golf course and is surrounded by beautifully manicured fairways and greens. Prices start from €650,000 + VAT.
Property Investment & Equity Release
What Is Equity Release?
Equity release is the use of financial arrangements that provide the owner of a house, or other property, with funds derived from the value of the property while enabling them to continue using it.
How Does Equity Release Work?
Equity release is aimed at homeowners aged 55 and over. It allows you to take some of the value of your home as cash.
Property Investments on Equity Release
Equity release funds are tax-free and can be used for anything you wish (providing it is legal). The most popular uses of equity release funds are: repaying mortgages and unsecured debt, home improvements, supplementing income, purchasing properties, and helping families.