Booming tourism makes Spanish property more attractive

Spanish tourism sector is on boom as Officials in Spain have revealed that the number of incoming leisure travelers is on rise this year and it could be the ideal place to invest in property.

Euroresidentes cited Government official figures that Spain attracted 26.6 million holidaymakers between January and June 2008. This is 2.6 per cent up on the amount recorded during the same period of the previous year. Statistics also showed that the number of arrivals from the UK also increased during this time. In fact, British holidaymakers were said to have accounted for more than a quarter of overall number of visitors to Spain till June.

This is despite the fact that the value of the pound plummeted against the euro by about a fifth in the last year but British holidaymakers are not willing to sacrifice a holiday in Spain, even in the current financial climate.

This will be positive reading for owners of Spanish buy-to-let sector, as it shows that tourist lodgings are in high demand. Figures from Mondial Assistance further suggest that nearly one in three British tourists are planning to spend this year's holiday in Spain. Second home buyers considering leisure as their key motivation also look for Spain when purchasing a foreign property.

This comes after the Spanish Property Owners Guild said the real estate sector may have slowed down but Spain's lifestyle attractions are still intact and Spain is likely to remain a popular destination for lifestyle buyers as property experts suggest that current market conditions are perfect for those who want a property for personal use.