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Oct 29, 2012 | 0 Comment(s)
The strong tourism industry in Spain is helping support the country's property market, with sales volumes increasing in September.
Marc Pritchard, sales and marketing director at Taylor Wimpey de Espana, revealed that his firm experienced a 22% rise in the number of real estate transactions in September, compared to the same period in 2011.
This figure is even more impressive on the Costa del Sol, with Mr. Pritchard stating that sales here are up by 52% in the year to date, compared to the first nine months of last year.
He explained that strong visitor numbers have helped attract more buyers to Spanish property.
"It's no surprise really that foreign spending has increased in Spain this year particularly among British tourists who have been bagging more for their buck considering the strength of the pound over the euro," Mr Pritchard elaborated.
Earlier this month, managing director of CHL Mortgages Bob Young told Mortgage Strategy that the Spanish government has introduced a number of policies designed to make the prospect of owning rental properties in the country more appealing to foreign landlords.
He called particular attention to a tax relief initiative, whereby landlords will receive all of the rental income they make from their portfolios.
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