Saturday, January 23, 2010

British airways adds flights to Spain

Some of Spain's most popular tourist destinations could be set to benefit from the introduction of new flight routes from London International Airport.

British airways have outlined its intention to expand at London airport following the launch of services less than a month ago. The carrier confirmed that schedules will be extended to offer five flights to Majorca and four services to Ibiza every week in July and August. The new links to the Balearic Islands will be launched from London City Airport in May.

British Airways confirmed that the decision to increase frequency had been made following strong demand from passengers. The routes represent the airline's first leisure-only flights from London City. As a result of the new flights, air passengers will benefit from more frequent and affordable access to popular Spanish tourist destinations. This could potentially impact on demand for rental accommodation in these areas, a development which may be of interest to foreign investors.

According to research by simonseeks.com, trips abroad will take over from staycations next year and Britons are set to return to France and Spain for holidays in 2010. A study of 3,000 people found that 56 per cent said they were keen to travel overseas in 2010, with many noting Spain and France as among the destinations they would like to visit.

Simon Nixon, founder of simonseeks.com, commented: "Staycation was the buzz word of 2009 but it seems that 2010 is will be more about a compromise culture, with people giving up short terms benefits to ensure they can afford that holiday abroad."

Those thinking of buying property in Malaga may be encouraged to know that Malaga was recently voted the third most popular destination for UK tourists traveling over the May Day bank holiday.

Sunday, January 10, 2010

Overseas investors in Spain should try to make cheeky offers

House prices in Spain are continuing to slide as a result of the economic downturn and investors planning to take advantage of falling house prices in Spain should not be afraid to make low offers, a property expert has said.

According to kyero.com, Martin Dell, property expert has said that some Spanish property sellers are currently willing to reduce their prices by as much as 30 per cent, though some see greater declines as possible as the end of a decade-long residential construction boom coincides with credit market turmoil. The fall in mortgage approvals coupled with bank pressure on developers with unsold new stock is creating a raft of top bargains. It means that potential buyers looking to purchase property in Spain could be in an unusually strong position to do so.

Mr. Dell explained: "Once you've found a property that appeals, make a cheeky offer.
What's the worst that can happen?"

Gerard Rees, director of Mercers at the firm's Mazarron office, said Spanish property can now be picked up for bargain prices as sellers curtail their losses, the property market is readjusting, noting that buyers are now returning to take advantage of substantial reductions in prices.

He explained that many vendors are keen to sell, which is producing newly affordable property in the country. The financial gain would be good over a longer period of time, adding that the continuing popularity of this country helps ensure that property purchased in Spain will always hold its value. "We're certain those who pick up deals now will be well placed to make a significant return on their investment over the next two to three years," he added.