When it comes to investing in Spanish property, it’s all about getting the right location. If new figures from AENA are anything to go by, Alicante could be a safe bet for those with their eye on the holiday let market. In May, the local airport recorded a 12.5 per cent increase in passenger traffic – the largest growth figure across the entire Spanish airport network. Throughout the month, 930,000 filed through Alicante’s airport facility, up from 826,248 in May.
This is the continuation of an upward trend for the area and in the first five months of 2013, airport passenger numbers exceeded 3,250,000. This is up from the 3,079,400 received between January and May in 2012. Spain on the whole is also enjoying higher visitor numbers, with the entire airport network recording around 17 million passengers in May – a rise of 1.9 per cent year-on-year.
With tourism numbers rising and property prices at an all time low, there is no surprise that overseas buyers are continuing to flock to Spain. Figures from the Bank of Spain and the Real Estate Registry’s annual report found that non-Spanish nationals are propping up the country’s ailing market. In 2012, foreign investment in real estate was up by 17 per cent compared to the previous year. Britons are topping the list of foreign buyers, with UK nationals accounting for more than 16 per cent of the total share of overseas activity. This equates to around 1.35 per cent of the market.
France and Russia are hot on the heels of British investors, however, accounting ten per cent and 9.6 per cent of all foreign purchases respectively. Interest is also increasing among Chinese and German buyers, with the two countries contributing 4.3 per cent and 7.9 per cent. Currently, activity is mainly focused on the coastline, as Europeans go in search of holiday and retirement properties. Alicante accounted for 33 per cent of total sales in 2012, proving it is one of the hottest destinations in Europe.
Article by +James Roberts on behalf of Propertyshowrooms.com News Desk (http://www.propertyshowrooms.com/news/)
