Wendy WilliamsIT is great news for tourism and for the dwindling property market.
The number of holiday lettings in Spain has shot up over the last six months, which bodes well for investors interested in the Spanish property market.
According to the latest figures from Malaga-based company Spain-Holiday.com, the number of bookings in the first six months of this year has increased by 31.5 per cent.
Moreover, 38 per cent of the reservations were for the summer months of June and July showing that while the Spanish might just book last minute other Europeans are making their plans in the first half of the year.
Low cost airlines have also played their part as the areas seeing increases in demand largely coincide with new flight routes.
Meanwhile more and more Spaniards are also choosing to rent apartments for their holidays with the figures showing a 71 per cent rise on June last year, moving away from previous trends of Spanish ‘staycationers’ always staying in hotels or with family.
Trending from last year, the number of unsold properties has led to many being put onto the rental market to pay carrying charges. This larger supply of rentals has contributed to rental prices being reduced; making them more affordable to vacationers facing poor economic times in their home country.
The property market still faces the delemma of too many new, illegally built units depressing sales along with frequent news of such property owners facing demolition or huge “CONDITIONAL legalization fees”. Caveat emptor!
Only if you have reduced the rents by about 30%, that you get the bum’s on the seat
i agree lowcost airlines have helped this and reduced rents, it all makes up for a weak pound