Spain is bracing itself for record levels of tourism in 2016 according the many industry experts and tour operators. As briefly touched upon in our article What To Expect in...
The first quarter of 2016 has carried on from 2015 as expected in the Spanish Property market with interest in Spain still very high and property sales continuing to rise at a steady pace with a good degree of consistency.
It has also been a fantastic quarter for the commercial property sector in the country with freehold investment leading the way and many international clients looking to invest into leisure and hospitality opportunities in the Spain.
Whilst that may not come as a complete shock to many due to the economic upturn over the past 18 months in Spain it is certainly a pleasant addition to an already thriving residential resale and new build market that has been gathering pace rapidly.
There has been interest from Scandinavia, Great Britain, Ireland, Russia, Cyprus, America and the Middle East to name a few clients looking with interest at the commercial freehold market in Spain, with a variety of purposes and exciting new projects and business lined up for launch during 2016.
Up to the time of writing, hotels, restaurants, bars, retail outlets and distressed assets are amongst some of the most popular sectors of interest so far during 2016 in the commercial freehold sector.
As well as economic recovery, factors such as the level of tourist and holiday bookings already confirmed for the summer have seen the commercial focus of many investors turn their attention to Spain with record numbers of tourists expected during July and August.
The recent downturn in the strength of the pound to the euro has not had too much of a negative impact on the UK investment market as the conversion rate of the currency is still much higher when compared to mid-recession years such as 2011 and 2012, with commercial freehold property prices still being deemed as a bargain with future high yield potential in the short, mid and long term.
Airports, resorts and businesses linked to the tourism industry throughout Spain are bracing themselves for busy times ahead.
Now really is a good time for commercial investment as there are still many affordable and bargain opportunities out there for investors to consider; as Spain continues to recover these will be snapped up quickly and the price of the freehold market will rise so it is little surprise that there is so much interest in the region.