UK Buyers are Tempted Back to the Costa del Sol
Spanish Costa del Sol has long been a favourite with European holiday-makers. Having one of the best climates in Spain, the Costa del Sol boasts a wide range of leisure time activities as well as cultural delights. In combination, these are the reasons for a large British expat community having settled here and it has largely been the driving force behind the real estate market at the Costa del Sol out-performing the rest of Spain.
Spanish economic woes have resulted in a fall in real estate prices by as much as 30 percent in this region, making the Costa del Sol once more the bargain hunting ground for foreign investors from Britain, Scandinavia and now also Russia.
Mr Ignacio Osle, sales director at “Taylor Wimpey de España”, said he is confident 2011 has been off to a good start, describing the 43 percent increase in foreign enquiries to his company’s offices at Benahavis at the Costa del Sol as “an encouraging sign”.
The Spanish government, meanwhile, released its own statistics on the increase of tourists flocking back to the Costa del Sol. This news should cheer up buy-to-let investors, whose rental returns should rise as a result. In the first quarter of 2011 Spain welcomed some 9 million holiday-makers, accounting for a 2.9 percent increase in tourism compared year-on-year.
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