Tourism is a fundamental sector in Spanish industry and in addition, it is a cash injection regarding housing. The fact of the matter is that nowadays, Spanish real estate, to a large extent, feeds on tourism. Undoubtedly, real estate located on the coast takes the lion´s share regarding sales to tourists. These clients want apartments close to the beach and hence, real estate agencies struggle to satisfy this demand. This situation emphasizes the direct relationship between tourism in Spain and the real estate market, especially regarding housing next to the beach or other holiday resorts visited by foreign tourists. The highest real estate demand regarding tourists are vacation destinations.
IN SEARCH OF A SECONDARY RESIDENCE
In 2016, Spain received more than 75 million tourists ( 75,3 exactly ) and this surpassed all expectations. This figure was 10% higher than in 2015 and it generated an income of 77.000 million euros. If we take this into account, we can easily deduce the importance of tourism concerning the real estate sector. We must bear in mind that a large number of tourists want to invest in a second home. Our country is extremely appealing due to the good weather, the beaches, the gastronomy and the welcoming nature of Spanish people in general. The figures do not deceive nor mislead us, but show us that due to tourism there has been an important increase in sales throughout the previous years. The most demanded areas, in relation to tourism, regarding the purchase of housing is Barcelona, Alicante, Mallorca and Malaga. For instance, it is estimated that in Alicante half of the property acquisition is carried out by tourists.
WHO VISITS SPAIN THE MOST?
In 2016, the largest number of tourists who visited Spain were British, French and Germans. Without doubt, the British were the largest number with nearly 17 million tourists. In 2016, tourism figures in Spain reached an all-time record which we hope to improve in 2017. The real estate market is already specializing in this niche market as facts show us that two out of ten tourists who come to Spain buy real estate property. The target age of a tourist purchaser is between 40-50, and they consider that Spain is not only appealing for a summer holiday, but also to spend longer periods of time.
Picture 02: Pedro López