Spain property update: booming Balearics and new Costa Blanca launch
- Balearic Island visitor numbers up 386% in first 5 months of 2022
- Mediterranean Coast property prices up 6.9%
- Taylor Wimpey España reveals new Bella Beach launch in Denia, Costa Blanca
Visitors are returning to Spain in their millions, with popular coastal areas and Spanish islands welcoming travellers back with open arms after the past two years of disruption. Figures from the Institute of Statistics of the Balearic Islands (IBESTAT) show that just over 4 million visitors arrived during the first five months of the year, an increase of 386% compared to the same period of 2021. Visitor numbers rose particularly in May, which saw 1.8 million people head to the Balearic Islands during the month.
The Balearic tourism boom saw Germans top the list of foreign visitors, followed by travellers from the UK, with 541,691 and 479,966 respectively. The data show that tourists spent an average of €1,957 per person in May – an increase of nearly 837% compared the same month in 2021. According to economic and social research company Funcas, this reactivation of international tourism will see the Balearic and Canary Islands experience greater economic growth than any other Spanish region during 2022.
The island of Mallorca stands out as the Balearic destination of choice, recording the highest occupancy level during May, at 62.6% based on IBESTAT’s figures. Nor is it just the hotel sector that is booming – leading Spanish home builder Taylor Wimpey España is enjoying a surge of interest in its properties on the island.
“It is fantastic to see Mallorca alive with activity once again. Tourists are making the most of their time here by dining out, spending days on the beach, shopping, playing golf and simply enjoying their leisure time to the full. Many are also keen to explore the possibility of owning a second home on the island, so are weighing up the merits of the different styles and locations of the homes that are available here.”