Spain set for record breaking tourism & property investment levels in 2017

Total investment for 2017 is expected to exceed €1 billion according to JLL.

Did you know that tourist spending in Spain tops €37 billion in first half of year according to the Tourist Statistics Survey?

Spain set for record breaking tourism & property investment levels in 2017

  • 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.

Editorial Note: This content has been independently collected by the EveryInvestor advisor team and is offered on a non-advised basis. EveryInvestor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.
Taylor Holt - 300x300

Written by
Taylor Holt
Estate Planning Expert

Taylor Is Our Resident Estate Planning Expert. He Knows That Everything Revolving Around Wills or Funeral Planning Can Be a Sensitive Subject That People Don’t Like to Discuss. But He Also Knows How Important It Is to Know All There Is to Know About It. Taylor Makes It His Mission to Spread Awareness About Estate Planning, and We Believe Everyinvestor Is the Best Platform to Do That.

Monique - 300x300

Written by
Monique Pittman
Pensions Expert

Monique Is Our Resident Pensions Expert. Many People Postpone Planning Out Their Pension, Thinking That Is Something They’ll Have to Worry Much Later in Life. Monique Knows How Important It Is to Start Planning Your Pension Early, and She Wants You to Know It Too!

Written by
Lisa Schilling
Insurance Expert

Lisa Is Our Resident Insurance Expert. She Knows How Important It Is to Be Ready for Any Scenario, Especially When a Family Member Is Involved. Nobody Likes Being Found Unprepared in a Tough Situation! Lisa Can Find the Best Insurance to Cover Your Every Need, Present and Future.

Doyle Edwards - 300x300

Written by
Doyle Edwards
Mortgages Expert

Doyle Is Our Resident Mortgages Expert. He Comes From a Long Line of Financial Gurus, and It Truly Shows. Despite His Young Age, There Is No Question He Cannot Answer When It Comes to Mortgages, and His Ability to See Outside of the Box to Find the Best Mortgage Deals Is Truly Impressive.

jason stubbs 300x300 1.jpg

Written by
Jason Stubbs
Equity Release Expert

Jason Stubbs Is a Specialist in the Equity Release Sector. He Enjoys Helping Older People Who Are Struggling Financially Get Out From Under Financial Pressure.

rachel w.jpg

Rachel Wait
Personal Finance Journalist

Rachel is an experienced finance journalist and editor with a particular interest in personal finance and consumer affairs. She has vast experience writing about money issues, property, insurance, and consumer affairs, and you’ll find her articles regularly featured in top media and newspaper publications.
francis.jpg

Reviewed by
Francis Hui
Senior Risk Manager

Having held various high-level roles across the industry, Francis is truly an expert in aiding UK citizens in their financial decisions and risk analysis. His unique insight and statistical knowledge make him the perfect person to help you take your financial future to the next level.
Mark Patterson

Written by
Mark Patterson
Mortgage Expert

Mark Patterson is a well-known expert in mortgages. He has been working as an expert for over 15 years, and he specializes in the UK mortgage market.
kath icon.png

Katherine Read
Consumer Affairs Writer

She writes on the topics of equity release, home reversion, and mortgages.

Nicola Date

Nicola Date
Writer & Journalist

Nicola is a financial writer for EveryInvestor and is passionate about the opportunities that equity release can open up for homeowners. Her extensive business experience and deep understanding of the industry means that she’s always up-to-date with the latest developments.