It seems Britons aren't letting the financial crisis get in their way of plans to own Spanish property and were flashing the cash in the country throughout last year. The Spanish Ministry of Industry, Trade and Tourism revealed that people from the UK spent a total of €1.46 billion (£1.24 billion approximately) in Spain - up by 12 per cent on 2011 levels.

This is streets ahead of France, who came in second place at €515 million (£440 million approximately), an impressive rise of 16.6 per cent market share. Scandinavian tourists are also increasingly heading to the country, growing their numbers by 17.5 per cent. While in Spain, the average daily spend has also risen, reaching €76.3 (£65.23) - up 8.9 per cent.

There is also good news for those considering investing in hotel rentals, as the average stay has increased to 12 days per visitor. However, traditionally popular Spanish hot spots will likely continue to enjoy the greatest performance and tourism numbers.

Marc Pritchard, sales and marketing manager for leading Spanish homes builder Taylor Wimpey Espana, commented: "Spain has indeed been through a challenging period but seeing the continual rise of tourists and associated spend to the country as a whole and the Costa Blanca specifically is immensely reassuring for both current and prospective property owners. Improved personal finances and a decrease in holiday prices have contributed to rising tourist levels, helping to alleviate some of the stresses on the Spanish economy."

Ease of access to the country is also helping to keep tourist numbers high, with new flights announced during the summer. This means holiday rentals will continue to be in demand, creating further opportunities for British buyers. With property prices remaining low in the country and the bad bank selling off its first wave of distressed real estate, now is an ideal time for investors to jump on the band wagon and pick up a bargain property.

source: http://www.propertyshowrooms.com/spain/property/news/brits-flashing-cash-spain_312633.html

Advertisement

Who's Online in Finance

We have 4 guests online