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Extra Palma flight seats ‘to benefit second home owners’

Posted by: In: Real Estate 16 Apr 2014 Comments: 0 Tags: ,

A 9% annual rise in Palma Airport flight seats is likely to boost foreign property sales, which last year reached a nine-year high across Spain, says a leading luxury agent

The availability of millions more summer flight seats to Spain’s Balearic Islands is set to further boost overseas property sales, which reached a national nine-year high in 2013, says a leading agent.

Palma Airport has announced there will be 34 million flight seats available to the islands this summer, up 9% on last year and Balearics Sotheby’s International Realty, which has offices in Mallorca and Ibiza, believes foreign real estate buyers will benefit.

The move comes after new 2013 figures showed foreign investment in Spanish real estate rose to €6.45billion ($8.95billion), 16% up on the previous year and the highest in nine years. Overseas buyers bought 11/5% of all Spanish real estate with Britons leading the way at 15.1%, the French (9.84%), Russians (8.58%) and Belgians (7.26%) all taking advantage of average price falls of 7.8%, according to the Bank of Spain data.

With flights to 74 new destinations being added, Palma Airport, which connects to 160 airports in 28 countries, is expecting record passenger numbers. Spanish budget airline Vueling has increased its operations …read more

Source: OPP



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