Spain has received over 5 million foreign tourists in the first two months of the year. This represents a 4.5% increase from last year’s numbers.
United Kingdom was the market that delivered more tourists to Spain in the first two months of the year, despite suffering a decline of 5.6%, followed by Germany and France.
In the first two months, 878,257 German tourists travelled to Spain, a number virtually unchanged over the same period last year. As for the French market, third in number of arrivals, an increase of 4.9% was registered.
Interesting is the behaviour of Nordic tourists, which accounted for 10.9% of the foreign tourists in January and February. This is an increase of 14.6% over the same period last year. For its part, the Italian tourism increased by 18.3% over January and February last year. The same growth rate recorded the arrival of tourists from Belgium. Other significant growth markets are the Netherlands (23%), Switzerland (20%) and the U.S. (10.1%).
The sale of homes increased by 19.6 percent in January over the same month last year to a total of 45,013 transactions. 51.5 percent of the transactions were performed on pre-owned homes and 48.5 per cent on new properties, according to the National Statistics Institute (INE).
The sale of previously owned homes rose last January by 24.3 percent to 23,168 transactions, while new homes rose by 14.9 percent, with 21,845 operations in the first month of the year 2011.
In January, 58.8 percent of house sales were recorded in Andalusia, Madrid, Catalonia and Valencia. The communities with the highest number of housing sales transactions per 100,000 inhabitants were La Rioja (166) and Cantabria (161).
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Immobilienmanager, the leading German publication specializing in real estate, awarded Jones Lang LaSalle, on 17 February in Cologne, the award for best intermediary and adviser (“Brokerage & Advisory Award”). The jury judges based their decision on the important role of the property consultant in a purchase transaction as a consultant to Corio in 2010.
Jones Lang LaSalle advised the Dutch Corio fund on the purchase of a European portfolio of shopping centers valued at 1,300 million euros and supported the company during the study phase of the buyer and valuation of the portfolio. This operation carried out in 2010 triggered the market recovery in investment in commercial premises in Germany after a long period of stagnation due to the crisis, “said Luis Iñiguez, head of retail at Jones Lang LaSalle.
In March 2010, the Dutch company Corio completed a major purchase of a portfolio of shopping centers promoted by Multi Corporation, a company based in Holland. The multidisciplinary and international team of Jones Lang LaSalle advised on this purchase Corio. With a total volume of 1,300 million euros, the bulk of the portfolio assets are in Germany, including the Forum shopping center in Duisburg and Dresden Galerie Centrum, opened in fall 2009. The portfolio also includes five properties in advocacy, including Boulevard in Berlin, Galerie Arneken Königsgalerie Hildesheim and Duisburg. Furthermore, the portfolio includes assets outside Germany as Torrelodones Area in Madrid, and Espaço Guimarães, in the Portuguese city of Guimarães.
The crisis is still embedded in the Spanish market, but the international investment marlet seems to recapture its tone and is gaining interest on the Spain real estate sector. This results from a survey of over 340 European real estate investors performed by CB Richard Ellis. The survey concludes that the Spanish property market interest from European investors has increased over the last year, reaching the fifth place ranking with a 9% improvement.
Despite economic dificulties, investors have returned to real estate oportunities. 2010 ended with an investment volume of 3.329 million EUR. The trend for 2011 is focused on a slight rebound . Still, Germany and Central and Eastern Europe are considered the most attractive markets for real estate.
Adolfo Ramirez-Escudero, managing director of CBRE Capital Markets Spain, explains that “the reason we have not seen figures even higher investment is simply the lack of product that meets the demand.”
The first quarter may be the scene of several operations. On the one hand, the story will continue to fall, in addition, many companies are pursuing strategies of asset turnover, which could be interesting enough to foreign investment funds that have set their sights on Spain.