The latest figures from the Department of Housing show that property prices in Spain fell by 3.5% to 4.5% year on year in February. This latest fall means that prices have dropped by just over 13% since their peak, while the cost of property in popular holiday resorts such as the Costa Blanca have dropped by 20%.
The Balearics and Canaries have fared much better during the past year as prices here have only dropped by 0.8% while in the large cities this fall is 5.2%, rising to 6.7% on the Mediterranean coast. Prices in the Balearics and Canaries have dropped by 17.5% since their peak which compares to 20.6% in the large cities and 27.2% on the Mediterranean coast.
The latest signs show that this decline should soon begin to reverse as Spain is becoming more popular for tourists and for property investors looking for a bargain. This has already been reflected in the number of flights to Spain as Monarch Airlines is increasing its flight program from April due to the growing demand.
It has added additional flights to Malaga, Alicante and Majorca. There has been huge demand for flights in April which may be due in part to the lateness of the Easter holidays combined with the extra-long May bank holiday weekend, as it would seem many Britons would prefer to celebrate the Royal wedding abroad.
Monarch Airlines announced that bookings April are already up 49% when compared to demand in 2010. It's likely that increasing numbers of Britons will choose to holiday near to home as the austerity measures begin to cut into holiday budgets, which is all good news for those with homes to rent.
http://www.spanishdreamproperty.com/
01603415296
info@spanishdreamproperty.com
The Balearics and Canaries have fared much better during the past year as prices here have only dropped by 0.8% while in the large cities this fall is 5.2%, rising to 6.7% on the Mediterranean coast. Prices in the Balearics and Canaries have dropped by 17.5% since their peak which compares to 20.6% in the large cities and 27.2% on the Mediterranean coast.
The latest signs show that this decline should soon begin to reverse as Spain is becoming more popular for tourists and for property investors looking for a bargain. This has already been reflected in the number of flights to Spain as Monarch Airlines is increasing its flight program from April due to the growing demand.
It has added additional flights to Malaga, Alicante and Majorca. There has been huge demand for flights in April which may be due in part to the lateness of the Easter holidays combined with the extra-long May bank holiday weekend, as it would seem many Britons would prefer to celebrate the Royal wedding abroad.
Monarch Airlines announced that bookings April are already up 49% when compared to demand in 2010. It's likely that increasing numbers of Britons will choose to holiday near to home as the austerity measures begin to cut into holiday budgets, which is all good news for those with homes to rent.
http://www.spanishdreamproperty.com/
01603415296
info@spanishdreamproperty.com
No comments:
Post a Comment