Sherry Good Prospects In Spain

The buy-to-let market, whether in the UK or overseas, is in many respects a series of markets, for the kind of property investors choose to sink their capital into will depend on the potential customer base. Thus property which is not necessarily of tip-top quality but is close to a university may work well for students. Apartments in city centres or near transport links such as rail and underground stations will appeal to professionals, while those serving the tourism sector will look for places near beaches or other attractions, but also close to airports and other facilities.

In the case of Spain, this last market is one of two major reasons for Britons buying abroad, the other being emigration (particularly among retirees). Thus those looking to invest in the country for this market will need to be aware of developments, but also long-standing traditions.

For example, the appeal of Valencia property has grown significantly this year for sports-loving tourists, with the hosting of the 2007 Americas Cup by the city being the catalyst for the building pf a major new arena, along with other waterfront developments. In addition to this, the city has been awarded the European Formula One grand prix from 2008 to 2014, with a Monaco-style street circuit. Valencia could thus become Spain's answer to Monte Carlo.

Others, however, may care to note the enduring traditions of certain areas. Andalusia is one such location. Statistics from the tourist office for Jerez de la Frontera showed that UK tourists were second only to the Germans as foreign visitors to the town, although the most notable factor was domestic tourism, homesworldwide.co.uk reports.

Just as notably, the most popular reason for visiting is not the sunshine, but sherry, as much a symbol of the area as wine is of France or Guinness is of Dublin, while the second biggest motivation is another central feature of local life and culture, the horse shows. Such trends may suggest that those looking to Andalusia may be better off looking for properties near vineyards and stables than by the beach.

One advantage with Spain, however, is that there are different markets and different options for investors, since those coming to the country either to holiday or to live may approach the matter in different ways.

Explaining this, property expert James Dearsley of Atlas International told propertyshowrooms.com: "In Spain property, you've got the option of that longer-term letting, which is either ex-pats who want to move out there but want to rent first, but the more prevalent, flexible and lucrative option is short-term letting."

Mr Dearsley added that the Spanish market is "only ever increasing" due to the proximity to the UK and the growth of low-cost airlines, all of which underlines the most important point of all. While there are different markets and even markets within markets for tourist boards and tourist property alike, these are set to go on growing.

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