Spain is back in business as alarm status ends
Alarm status ends
- Fewer travel restrictions and longer restaurant opening hours as life gets back to ‘normal’
- Taylor Wimpey España welcomes positive impact on Spanish property market
- Summer season spending to relieve some of pressure on tourism sector
As one of the world’s most visited countries, Spain relies heavily on its tourism sector to keep the economy ticking over. Like many sun-kissed hotspots, it was hit hard by the pandemic. But hopes are now high for the summer season, as the end of Spain’s ‘alarm status’ on 9 May signals a return to something akin to normal.
“The ending of the alarm status in Spain means a reduction in travel restrictions and an easing of the rules imposed on hospitality venues such as restaurants. People can go out at night again and generally enjoy a quality of life that is much closer to the pre-pandemic days than we have seen here in quite some time.”
Sales and Marketing Director of Taylor Wimpey España
Kyero.com reports that sales to international buyers account for 13.97% of all property transactions in Spain (as at Q4 2020). The figure tends to be significantly higher in coastal areas. In the Balearic Islands, that figure stands at 32.89%, while in Malaga province it is 32.23%. In Alicante, foreign buyers made up 40.73% of all transactions.
Leading Spanish home builder Taylor Wimpey España has been serving international buyers in Spain for over 60 years. The company sees the ending of the alarm status as a major step forward in terms of supporting buyer confidence.
“We have many enquiries at the moment from potential buyers who are just waiting for a little more ‘normality’ before they commit to purchasing a second hone. The end of the alarm status is a significant step in the right direction, just as the easing of international travel restrictions in the UK will be on 17 May. The combination of these factors spells good news for the Spanish tourism sector and the country’s property market.”