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Spain’s record hike in tourism tracks recovery in foreign buyers

Posted on 21 October 2016

The volume of visitors to Spain hit a record high in August with 10.1 million tourists touching down there, representing a 5.8 per cent rise on the same month last year, according to Spain’s National Statistics Institute.

Meanwhile, foreign investors accounted for 17.5 per cent of all property bought in Spain during the first half of 2016, according to Spain’s Property Registrars. The market share of foreign buyers in the second quarter alone was 13.4 per cent, almost a record high, with British buyers being the largest group accounting for 20 per cent of the foreign market.

Notable was that during August, almost eight million tourists chose a short break in Spain, a significant increase of 16.9 per cent from last year. This growing popularity of shorter visits to Spain is expected to further strengthen the holiday home market, with the ease of flying to Spain for a long, sun-filled weekend of culture and relaxation allowing buyers to make the most of their second property all year round.

Looking closer at the Costa Blanca, located in Alicante and a favourite with foreigners, the percentage of foreign buyers in the province of Alicante has increased dramatically, from 25 per cent at beginning of 2011 to more than 50 per cent in the second quarter of 2016.

Hot spots in the Costa Blanca include Torrevieja and Orihuela Costa, which includes the resorts of Playa Flamenca, Punta Prima, Cabo Roig and Campoamor in the south, and Javea, Denia, Calpe and Moraira in the north.

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