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Business tip 12. Tourism and Housing in Spain 2010. Part I
15 April 2010 @ 11:49

 

The number of foreigners with a valid residency permit or registered in Spain at the end of the third quarter of 2009 rose to 4,715,757 people - an increase of 10% on the previous year.

According to the World Tourism Organization, Spain is second, after France, in the list of countries receiving the highest volume of foreign tourists, and receives 7% of world tourism, placing it ahead of the United States and Italy.

In the last quarter of 2009, foreign residents in Spain bought 7,340 residential properties, 21% more than in the previous quarter and 11.8% more than in the same quarter of the previous year, according to figures from the Ministry of Housing.

Property sales have finally increased once again after eleven consecutive quarters of decline.  Between October and December of 2009, there was an increase of 4.1% in this key statistic which meant the first year-on-year rise since the end of 2006.

The rise of almost 20% in property sales in February, 2010, as a yearly rate since 2008, has raised hopes in the housing sector.  The majority of experts consulted confirm that these positive figures are a reflection of the drop in prices, low rates of interest, the expectant hike in VAT and the end of tax relief.   Although some of these strengthening factors cannot last in the long term, they will be replaced by other equally effective factors.

These experts affirm that the housing market will pick up soon, much quicker than expected, in line with the increase experienced in the second quarter of 2010 and in a much more discernable way during the remainder of the year.    However, it will not show a total recovery as the main problem in the sector is the illiquidity of the amount of building plots, although there are now financers who are prepared to begin new projects and, above all, to once again finance responsible building developers.

In the days leading up to Easter, estate agents specializing in second homes claim an increase of 50% in requests from the British interested in their real estate offers, in particular along the Costa del Sol and in the Balearics. 

In-bound tourists in Spain, 2009, by nationality:

TOTAL
Total 52.231.098
Germany   8.925.909
Austria             493.832
Belgium          1.596.899
Denmark     958.909
Finland     517.505
France  7.916.165
Ireland  1.458.149
Italy  3.181.561
 
Norway                        887.224   
Netherlands             2.094.632   
Portugal                     2.051.987   
Great Britain                  13.324.625   
Russia                       421.161   
Sweden                       975.775   
Switzerland                     1.141.224   
Other Europe             1.800.280   
USA                             1.137.655   
Argentina                        295.538   
Brasil                                248.414   
Canada                       182.177   
Chile                                 38.695   
Mexico                       238.235   
Venezuela                         39.160   
Other American               498.900   
Japan                               228.572   
Rest of the World     1.166.288   
 
 
Source: IET  www.iet-tourspain.es

In-bound tourists in 2009 classified by type of accommodation used:

TOTAL                              52.231.098
 
Hotel & similar                              31.968.791
 
Free accommodation (own,
Family etc)                                           12.166.803
 
Rented accommodation                               4.666.959
 
Other                                       3.001.870
 
None specified                                 426.672


Source: IET – www.iet-tourspain.es
 
Written by Jesús Castro
Translated by Rachael Harrison
Duna y Valdevaquero, Tarifa (Cadiz), by Chodaboy; at flickr.com
 

 
 
 


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