Malaga airport breaks records
Data released from AENA, Spain’s Airport and Air Navigation Authority has shown that for the month of July the number of passengers using Malaga Costa del Sol airport reached the record breaking figure of 1,705,185. This is the first time that figures for a single month have exceeded 1.7 million. This breaks the previous record which was set in August 2014 and stood at 1.68 million.
The busiest days in July were that of 26th where there were 443 take offs and landings and 31st July which saw 60,660 passengers traveling to and from the airport. The highest numbers of passengers were from the UK where a total of 522,668 passengers flew to and from Malaga Airport. This was followed by domestic passengers with a total of 221,724 and then the Germans with 135,892. The most popular destination for people travelling from and to was London which was followed by Manchester and then Dublin.
From January to July of 2015 there was an increase of 4.5% in the number of passengers compared to the same period last year with a total of 8,146,592 million people using the airport. When these figure are compared to 2007, pre financial crisis, there is an increase of over 180,000 passengers in 2015.
Normally August in the busiest month for tourism and Malaga airport and it looks like the month of August will be breaking records which is a strong sign of the ever increasing popularity of the Costa del Sol.
Foreign investment will increase in the Costa del Sol property market by 10%
The Costa del Sol is the most popular area for overseas property in Europe and is set to grow further as demand from foreign investors grows.
The IPE business school, Instituto de Practica Empresariel has forecast that interest from foreign investors is set to increase by another 10% in 2016 with 2015 seeing that increase already. On a national level, the IPE have forecast increases between 5 and 7% in Madrid and Barcelona. At the forefront of foreign interest are the Costa del Sol and the Malaga province. Prices are slowly beginning to rise and the weak euro is making property more affordable especially for the British. Due to these conditions buyers are purchasing property now in order to get the best deals, something that the IPE predicts will continue for another 12 months.
The IPE report expects that the Costa del Sol’s unsold new houses will reduce by 50% as more and more Spaniards look to get on the property ladder. This follows the increase in domestic consumer confidence and less stringent lending rules imposed by the banks. Also there have been a high number of wealthy foreign investors buying luxury property in Marbella and Puerto Banus, so with all types of property considered, the IPE forecasts property prices to increase by 2.8% over the next 12 months.
Visitors flock to the Costa del Sol
A joyous mood is sweeping across the Costa del Sol as visitors flock in their millions to the area this summer, boosting the local economy and creating employment. All along the coast towns are visibly busier and towns such as Marbella have reported that unemployment figures are similar to those before the economic crisis.
The effects of the increased tourism have been felt all over the Costa del Sol. The town of Estepona has reported that overnight stays were up by 55% in June compared the same month last year. Mijas Costa has reported a 90% occupancy rate in its hotels and tourist apartments.
The goal of 10.5 million visitors to the Costa del Sol is now looking a very realistic and achievable target. The Costa del Sol Malaga airport reported 1.7 million passengers used the airport in July alone and for the year so far a total of 8.1 million passengers have used the airport. The UK is still the number one place where the visitors originate from.
There has been a 6% increase in the number of flights from the UK so far this year showing that the popularity of the Costa del Sol with the British is still as strong as it ever was.
Some of the main reasons as to why the Costa del Sol is so popular this year has been due to external circumstances such as the situations in Turkey, Greece, Tunisia and Egypt. However the fact that there is an abundance of activities, 100’s miles of beautiful coastline and beaches, the appealing nature of the lifestyle, culture and cuisine, the glorious weather, affordability and ease of access have led many to choose the Costa del Sol above the rest.
Non hotel accommodation increases
On the Costa del Sol, non-hotel accommodation in the first seven months of 2015 has experienced an expansive growth of 11%. The INE (Spain’s National Statistics Institute) released the data showing that this type of accommodation has evolved constantly in the last few years and is increasing a faster than the whole sector’s growth.
It was registered that from January to July 2015 a total of 658,740 tourists visiting the Costa del Sol chose non-hotel accommodation, such as apartments, villas, campsites and rural houses. The increases in this sector of the market are down to the increase in international tourism to the area which has led to an increase in employment which is great news for job seekers on the Costa del Sol. It is also great news for those who have invested in holiday property or who are looking to invest in a holiday property as more and more people are choosing the Costa del Sol not only for their main vacation but for short stays as well. This has been shown in the record breaking figures the area has achieved so far this year.
Foreign mortgage demand up 8% in a year
There has been 8% increase in the number of British people enquiring about foreign mortgages in the past year according to figures released by overseas mortgage specialist Conti.
The most popular country for enquiries according to Conti’s figures is Spain and in the second quarter of the year Spain accounted for 45% of all enquiries. During the first quarter of the year Spain accounted for 54% of all enquiries but the actual number of people enquiring about Spain increased in the second quarter. The next most popular country to Spain was France with 31% of all enquiries followed by Portugal with 18%.
British people who are fortunate enough to have surplus funds are being tempted to the Spanish property market by the strength of the pound against the euro which recently reached a seven and a half year high. In addition to the strength of the pound, the Spanish property market has become more stable and with low borrowing rates and comparatively low prices, the increased budgets of British buyers due to the pound’s strength has made the Spanish property market more attractive to invest in especially when compared to property prices in many parts of the UK.
Over 28 million euros spent by foreign tourists in first half of 2015
For the first half of 2015 Spain registered a new record for foreign tourists’ spending which reached over 28 million euros (28,287,000). This equated to an increase of 7.4% on the same period last year. There was an increase in the average daily expenditure of 4.2% and the average expenditure per tourist also increased by 3.1% according to a report published by the Ministry of Industry, Energy and Tourism.
Top of the spending list was the British who spent 5,727 million euros which was an increase of 9.8% compared to the same period last year. The Germans recorded a 0.5% rise in spending 4,416 million euros and the French spent 2,692 million euros, an increase of 12.8% which was the largest increase of all the major markets. A notable increase was that made by the Americans who recorded a 26.3% increase in spending which amounted to 1,600 million euros.
The regions that benefitted the most from the increased spending were Catalonia where foreign tourists spent 3,384 million euros, a rise of 6.7%. This was followed by the Canary Islands with 6,204 million euros and Andalucia with 4,419 million euros. Madrid encountered the largest increase of 11.4% with tourists spending 3,050 million euros. For the month of June foreign tourists spent a total of 6,478 million euros which represented a 4.3% increase on June 2014. The month also saw an increase in the number of tourists which was up by 1.4%, average daily expenditure was up by 3.5% and average expenditure per tourist was up by 2.8%
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