Costa del Sol
We wanted to reverse the trend and lead to some positive on the Costa del Sol. Here are some great reasons to feel good about living, working or owning property on the Costa del Sol.
Spain tops charts of the best places to live in Europe
Spain ranked second out of 10 European countries with regard to the standard of living by uSwitch.com, the UK & Ireland’s official ranking at the bottom. Some of the great reasons, she emphasized, to live in Spain:
1. Spain enjoys the most sunshine in Europe
2. Spanish can expect to live a year longer than people in the UK
3. Spain has the highest number of days of rest in Europe (41 days per year)
4. The Spaniards are paying the lowest fuel prices and low prices for alcohol
Sun still shining and tourists are spending
Summer 2009 was glorious and the Costa del Sol was hot and dry November to record. All this stored solar weather, tourists and people are happy to sunbathe on the beach and in December.
Despite fears, on the contrary, tourists still came in 2009. According to the Association of Industrialists Hotel Costa del Sol (AECHOS) average hotel occupation in July was 69.43%, very similar to the same period in 2008.
Self-Catering accommodation was particularly popular, showing that people do not want to sacrifice their holidays abroad, but want to reduce their costs while they are there. HolidayRentalontheWeb.com found that their holiday rental orders were much more before 2008.
There was a series of successful events on the Costa del Sol this year, bringing in much needed funds and tourists. Quarter finals of the Davis Cup in Puerto Banus only Generated 10 million euros in direct investment in restaurants, bars, hotels, shops and businesses in this area and there are many other important events such as the first Festival of Food & Sun.
The new facility opened
New shops, bars and restaurants use the empty space and reduce the rent and re-open its doors. The most high profile of new arrivals have been signs & Spencer in Marbella and Hard Rock Café in Puerto Banus. These new companies bring more jobs, stimulate spending and to ensure positive coverage in the region.
Even the real estate market shows signs of recovery
Real estate market and construction industry took a hit this year, and demand for new properties has plummeted. On the other hand, however, there are many property bargains to be had, and signs that investors with cash to buy during the recession to make money when markets are on the rise again.
Like the rest of Europe emerges from recession, demand in Spain will rise again and interest in the second house will increase again. PrimeLocation International, a specialist property website, a steady increase in the search for Properties International in June 2009 and 6% jump in November, just a good sign for things.
Experts expressed the belief that things can begin to improve sooner rather than later. Mikel Echavarren, head IREA, Spanish real estate consulting quoted saying: “Recovery is. He believes that prices have reached bottom, and he foresees an increase of 10% per year and costs from 2010. Of course, this is only a forecast, but it demonstrates the growing confidence in the market. More confidence means more customers to benefit from the bottom of the housing market so this is a positive sign of things to come.
There even seems to have some good news for developers. G-14 group of leading developers of Spain announced that the market of new houses on the way to a mild recovery. Branch touched bottom in April 2009, and after a huge reduction in prices, they have been seeing steady growth in sales in the period from April to date. They predict that sales of newly constructed homes will continue to consolidate in the coming months.
Let’s look at the bright side
We do not claim that the Costa del Sol to return to the highs of 2007, but it is certainly improving, and still is a great place to live and take a vacation. Potential buyers and guests can take advantage of falling prices on the properties and vacation rental accommodation and we can all enjoy the great offers at restaurants, bars and shops.
Tags: Costa del Sol
