Spain’s high quality property in demand

March 18, 2011 – 3:09 pm

Quality property in Spain, Tenerife and the Islands is always in demand

The UK has London, France has Paris and now, it seems, Spain has its own elite property market that’s surging ahead of the rest of the country. Whilst recovery in the national property market after the 2008 collapse remains slow, the Balearic Islands of Ibiza, Majorca, Minorca and Formentera are a different story, with sales increasing by 14% in 2010 and expected to keep growing as tourism booms this year. 

A total of 10,860 homes were sold in the islands last year according to government statistics which, when compared to the 491,000 properties sold nationally, made up quite a large percentage of total sales figures in Spain. And that percentage is growing at speed – whilst home sales in the Spanish market as a whole only grew 5.9% from 2009′s numbers, sales in the Balearics were up 14.5% compared with figures for the previous year.

“Over the last 12 months we have seen buyer interest in the Balearic Islands, especially Majorca, rise steadily”, said Ignacio Osle, sales director of the nation’s largest homebuilder, Taylor Wimpey Espana. An enduringly popular tourist destination amongst Brits in particular, the Spanish Tourist Board estimates holiday visits from UK customers to the Balearics has grown 13% so far this year.

This trend is expected to continue into the peak summer season, as a result of both holidaymakers changing their destinations from Tunisia and Egypt to Spain and the Canary Isles, and last-minute holiday bookings for the Royal Wedding holiday period. UK-based tour operator Thomas Cook reported a 30 per cent surge in enquiries for Balearics packages over the April break, whilst charter airline Monarch has extended its services from the UK to Majorca to cope with growing demand.

Osle recommended Majorca particularly as a hotspot for property investment. With plans currently in the works to construct a Formula 1 track near the island’s transport hub of Palma, long-term tourism prospects look good, and continuing foreign interest has ensured prices retain their value compared to the rest of the Spanish market.  “The local property market remains buoyant, with foreign buyers keen to get a slice of island life by purchasing high quality, well located properties”, said Osle.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do | Tagged , , , , , , , , , , , , , , , , , , , , , , | Comments (0)

30% increase in British reservations to Tenerife and Balearics

February 9, 2011 – 9:35 am

The troubles in Egypt and Tunisia are Tenerife's gain

Thomas Cook says Spain is benefitting from the troubles in Egypt and Tunisia. It has said that the number of reservations from British tourists for the Baleares has increased by 30% over the last four weeks. The company is putting the rush to book down to the events in Egypt and Tunisia. It seems that Spain in general, and the Canaries and Baleares in particular are the destinations to benefit the most from the unrest, followed by Greece where UK bookings are up 20%. It has even been suggested that the increase traffic to Tenerife has resulted in a number of positive property enquiries and transactions.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Weather | Tagged , , , , , , , , , | Comments (0)

Fewer holidaymakers taking to the sky this year.

August 22, 2010 – 4:40 pm
Less holidaymakers flying to Tenerife, the Canary Isles and Spain

Less holidaymakers flying to Tenerife, the Canary Isles and Spain

Substantially fewer holidaymakers have flown abroad this year than last, official figures have shown.

In the 12 months to June the number of visits abroad by British residents fell by 12 per cent from 63.3 million to 56.0 million – a drop of 7.3 million on the same period in the year before.

The figures from the Office for National Statistics are the latest data to indicate consumers and businesses are still being very cautious about spending money on travelling abroad.

The biggest drop came from businessmen cancelling trips or deciding to stay at home, with business trips falling by 19 per cent.  Holiday visits decreased by 12 per cent to 36.9 million. This shows once again how important it is to market your rental property in Tenerife in a professional manner, using a reliable agent and most important, at the right price point.

Earlier this week, both Thomas Cook and Tui, the two biggest tour operators in the country, said they were experiencing a very difficult summer. Thomas Cook admitted it had been forced to cut the price of holidays between May and July and its still had 160,000 unsold summer holidays.

Last month, The Daily Telegraph reported how camping in Britain had officially overtaken bed and breakfasts in popularity, as millions of families opt for the cheaper option of sleeping under canvas, with more than five million camping trips undertaken last year.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized, Weather | Tagged , , , , , , , , , , , , , | Comments (0)

Thomas Cook to pull out of Canary Islands?

April 9, 2010 – 10:57 am

The Irish low-cost carrier is to offer 32 services to the Canary Islands (Gran Canaria, Lanzarote, Tenerife and Fuerteventura) from nine British airports this summer – with the routes being supported by discounts offered by the Canary Islands’ government. Thomas Cook, Britain’s second-largest tour operator, has claimed that Ryanair will receive a subsidy equivalent to at least 6.5 euros per passenger on the new routes.

Thomas Cook to leave Tenerife and the Canary Islands?

Thomas Cook to leave Tenerife and the Canary Islands?

Thomas Cook has given warning it could pull out of the Canary Islands in a row over the “subsidies” it claims are being paid to Ryanair by local authorities.

Manny Fontenla-Novoa, chief executive of Thomas Cook, said in an interview with the trade publication Travel Weekly that “paying” Ryanair to fly to the islands was not the way to arrest falling visitor numbers and said that Thomas Cook might switch to selling more holidays in Turkey and Egypt.

A spokesman for Ryanair denied that the carrier received subsidies. “The discount scheme is available to all airlines that commit to growing traffic to the Canary Islands,” he said. “Instead of complaining, Thomas Cook should apply for the scheme, lower its fares and compete on price to grow its business – something it has never had to do in the Canary Islands.”

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , , | Comments (0)