Spain Property Investment News

Latest figures from Spain show rise in transactions

Recent figures released by the Spanish National Statistics Office (NSI) show that the number of property transfers during April this year were up on the previous year, suggesting that there continues to be a considerable amount of activity in the market despite fears of a downturn. The number of transfers in Spain increased by 19.3% on the previous month, and by 2.5% on the same period of the previous year, with nearly 215,000 transfers in Spain during April.

Spain’s key industry of tourism is proving robust, and indeed the country appears to be seeing some positive effects from the fears of an economic crisis. Irish and UK holidaymakers are currently favouring an affordable destination, and as a result many are opting for the convenience of Spanish resorts.

Earlier this month low-cost carrier Ryanair announced the launch of two new services between the UK and Spain as a result of the demand. Also, the Regional Government of Murcia and Aeromur has announced the start of construction on Murcia Airport; this project has a budget of €266 million and is hoped to be operational by the winter of 2010.

These announcements also demonstrate the growing trend among visitors to Spain to seek out new destinations. With many owners and prospective investors in Spanish property concerned over recent negative press reports surrounding the market, this latest news may go some way to allaying their fears.

As well as the ongoing success of Spain’s tourism sector, the property market is supported by the large group of ‘lifestyle’ buyers, concerned less with making a fast profit and more with finding a bolthole in the sun, which will nevertheless prove a good investment over the long term.