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Spanish Residential Tourism

What is residential tourism?

Residential tourists in SpainResidential Tourism is the new lifestyle for overseas travellers. We are enjoying our properties in the sun or in the mountains for our holidays in greater numbers than ever before. But forget the traditional two week holiday in a hotel. Now we want to catch a low-cost flight to our own home in our preferred destination and we want to visit it for several months at a time or at least three or four times annually with friends and family. Home owners have the added benefit of being able to rent out their home to other holidaymakers so their property is a source of enjoyment and investment. It could also be a good place to spend winters when you retire or even a place to live year round.

As heating bills rise on a seemingly annual basis, the cost of living in general keeps digging deeper into our wallets and purses, more and more early retirees are making a conscious decision to spend the cold, dark winter months in the sun, predominantly in the south of Spain. Some are buying a property for themselves and the family, others are renting vacant properties from November through to April or May as the overall cost of packing up and moving abroad for 4-6 months each year far outweighs the cost of stopping at home in front of the fire and then having to trudge down to the shops each week.

A much better way to live

REsidential tourism in Spain.Nowadays we are looking for a different way of life - a new lifestyle. We are no longer satisfied with a two-week vacation, but want somewhere we can go four or five times a year and it is also attractive for younger couples with children. We can be outside all the time, and it's an infinitely better way to live.

An important priority in the purchase of a second home or holiday home, as much for the foreign as local property owners, is that the property offers all of the special ingredients such as quality of life, excellent healthcare, good communications, easy access. Additional services are an important factor in the purchase decision.

The Costa del Sol is well established for cateing for expats abroad and there are a wide range of facilities and clubs in place to cater for the most demanding residential tourists. Numerous golf courses, bowling clubs, bridge clubs, cycling and swimming clubs. Many of the international bars run leagues which include the old favourites dominoes, darts, pool and quiz nights. There are a multitude of educational possibilities; learning Spanish, cooking, painting, sculpture, scuba diving to name but a few.

Why Buy in Spain?

Typically the most important factors in the decision to buy a holiday home are the climate and the lifestyle. Other factors include attractions, activities such as skiing or watersports and not forgetting golf. The hospitality of the people, the cost of living, health services above all for the early retirees with possible health problems and the younger buyers who tend to have families and quality education requirements.

Residential Tourism SpainThe Internet is the most popular media by which most buyers come to know the market with approximately 80% of all buyers researching local property prices and available real estate online.

Spain is by far the number one destination for residential tourists from Europe, with the coastal areas between the Costa del Sol and the Costa Blanca in particular because of the excellent year-round climate, good infrastructure and an ever increasing number of wealthy families making investments in real estate for their future. Add to this the fact that you can fly over for the weekend and catch a few rays and Spain stands head and shoulders above other areas of Europe.

Cheap airlines have opened the doors to a new way of life for millions worldwide

Cheap air travel to an ever increasing number of destinations and the online opportunities that the Internet offers for flexible working, combine to entice more and more people to leave the cold, wet and grey confines of northern Europe, to both relax and work in warmer climates. There  are now regular flights to destinations around the world or around the corner that make it possible for a long weekend on the spur of the moment or several holiday each year without upsetting the bank manager.

 

REsidential Tourism SPainResidential Tourism in Spain

Essential things when buying a second home.

Regardless of your longer term aims for the property, key points to remember are:

Is the property going to be large enough for extended holidays or full time living?

Are local amenities really that local?

If you need to sell the property at any time in the future, for whatever reason. Is it in a good area? Are locals buying similar properties?

Should you wish to rent out your property. Is it close enough to the beach or other major attractions? What is the rental market like in the area? Is it seasonal or annual?  How many weeks occupancy can you really achieve?

Do your homework!! Ask independant reliable sources the same questions that you will no doubt ask your real estate agent.

If you are interested in buying a property either off-plan or in construction and cannot visualise how big 80m2 is, ask for it to be converted into Sq. Ft or better still take a look at a property that is 80m2 and ask yourself the same question.

Is it going to be big enough to live in?

If it isn´t then look for something else. If you require the property for holiday lets and it only a short walk to the beach, amenities, etc., then it may be very suitable and a good investment.

Second homes and holiday homes will typically be larger than many of the properties that are being bought by short term investors. They should be large enough to live in and swing the proverbial cat by the tail.

If a property is being sold as an investment for holiday lets, but is in the middle of nowhere, with no amenities close at hand, no shops or restaurants and the only reason you are looking at it, is because it meets your budget requirements and the sales person says it will rent well.

Take a step back and consider this -

If you were taking your family on your annual two week holiday, would you be happy to stay in this property, 2 adults, 2.4 children and very little to do without driving for 10 minutes

 - if the answer is no,  then run a mile!

The property is cheap because of what it is and where it is and the old adage applies here - You get what you pay for!!

Over the last decade there have been hundreds of thousands of properties built across the globe and every one will have a buyer waiting to sign for it. Just make sure that the property that you are going to purchase is the one that you should be purchasing, as against compromising to save money - in the long run it will cost you dearly.

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