Máximo Álvarez-Garmón September 8th 2017

Spain’s record breaking 2017

According to statistics released by Spain’s National Statistics Institute a record 36.3 million tourists visited Spain during the first half of this year. And that isn’t the only good news; property sales to foreign buyers are on target for their eighth consecutive year of growth. This is excellent news and indicates that the residential property market is in good health.

Overseas buyers lavished €888 million on Spanish properties in H1 2017, smashing last year’s record of €330 million for the same period with total investment for 2017 expected to exceed €1 billion. The nationalities at the forefront of the league table for overseas buyers are German, Scandinavian, British and Russian, but overall buyers are coming from around 15 countries, reflecting the interest in Spain across the world.

In addition to the increase in foreign investment in property, January to June 2017 has also been a success for Spain’s tourism sector. The 36.3 million mentioned earlier represents a 12% rise compared to the same period in 2016.

The majority of those who visited came from the UK (8.6 million) whilst 5.5 million visitors were from Germany. For both countries, this reflects a 9.1% and 10% rise over the same period last year respectively.

The National Statistics Institute has also highlighted an 8.5% increase in foreign tourists using non-market accommodation. This refers to the number of tourists visiting Spain who are using the housing of relatives or friends, or their own property, and their combined number is even higher than those using traditional market accommodation such as hotels or rental properties.

As a spokesperson for Taylor Wimpey, one of the driving forces of residential property development in Spain and in Marbella, said: “A decade on from the crisis and Spain’s property market is not only back on its feet but thriving. The appeal 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.”

Please contact us to view our portfolio of residential properties that will make an ideal second home in Spain. We’ll be delighted to help you find the perfect one for you.

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