Spain welcomed over three times more British expats than the UK did Spanish expats last year.
Spain has always been a favourite holiday hotspot for British travellers, but the idea of living in Spain became more than a distant dream for those who resided for at least 12 months in the country last year.
Nearly 300,000 British citizens left the UK and took up residence in Spain in 2016, according to data from the Office for National Statistics. Read more »
There are now more beds in holiday rental properties in Marbella and Malaga than there are in hotels in the same area, making buy-to-let properties a popular option for many would-be buyers.
There are 10,985 beds in tourist properties across Malaga city compared with 9,143 in hotel accommodation, according to Sur in English, and 12,276 beds in Marbella are managed through holiday rental companies such as Airbnb, almost 4,000 more than in hotels. Read more »
Foreign tourist numbers are rising as well as tourist spending habits, highlighting just how important tourism is to Spain.
Official figures published last week showed that 10.5 million foreign visitors came to Spain in July; a rise of just over 10% on the same period last year. This week it was also announced that the amount of money spent by tourists in Spain has risen by over 16%. Read more »
Spain’s international tourism boom continues, with over 10 million tourists visiting the country in July alone, according to the government’s central statistics unit.
The number of tourists entering Spain in July reached 10.5 million, representing an increase of 10.1% on July 2016. The sector is on track to smashing last year’s record breaking tourist numbers, with the running year to date (January to July) totals climbing to almost 46.9 million, 11.3% higher than the same period last year. Read more »
Spanish businessman, Amancio Ortega, has become the richest man on the planet, reports American business magazine Forbes.
Ortega has earned his fortune as co-founder of Spanish retailing giant Inditex, the parent company to high street fashion brands Zara, Stradivarious and Oysho…to name but a few. Read more »
Spain’s second-hand property market has reached the same level of activity in the months before the housing bubble burst in 2007, according to Spain’s property registrars.
In the second quarter (Q2) of 2017, there were 99,343 second-hand property transactions, representing 83% of the 119,408 total homes sold in Spain and the highest number of second-hand property sales seen in the last ten years. Read more »
The Spanish economy is thriving after experiencing almost four consecutive years of growth.
Spanish GDP grew by 0.9% in the second quarter (Q2) of the year and by 3.1% in the last 12 months, according to the country’s National Statistics Institute (INE). Read more »
What are Socimis and why is their business in Spain booming?
Socimis are Spanish real estate investment trusts or REITs, known in Spanish as “Sociedades Anónimas Cotizadas de Inversión en el Mercado Inmobiliario”. They are companies whose job is to direct or indirect investment in urban real estate property for rental purposes. Their main aim is to promote the Spanish rentals market, to provide liquidity for real estate investments and offer investors stable returns.
There has been huge buying activity in Spain from Socimis over the past few years, compared to 2014 when there were just a handful listed on the MAB index.
Read more »