Spain has shattered its own tourism record for the seventh year in a row: 75.3 million foreign visitors made their way to the country in 2016. That’s 7.2 million more than in 2015, for a rise of 9.9%, according to early figures from Spain’s Energy and Tourism Ministry.

Visitors to Spain in 2016 shelled out a total of €77 billion, up 8.3% from 2015 figures, while average per capita spending was €1,023 for a more modest rise of 3.75%. The average daily amount spent by visitors was €138, some 6.5% higher than a year earlier.
...continue reading "Spain shattered its own tourism record in 2016"

According to a study by mortgage company Credit Foncier based on European Union statistics, while 65% of people are home owners in Britain, 73% are in Italy, 79% in Spain and 84% in Poland, Villa for sale in Mijaswith France having the same number as the UK and Germany having less at just 54%.

The study is based on eight European countries that make up 75% of Europe’s population and also shows that Dutch people spend more of their income on property at 29.4% while British people spend 25.1%, the French 18.2% and Italians 17.1%.

But the Dutch pay less for their homes as prices fell between 2006 and 2015 while they increased by just 2% over this period in France. But buyers in the UK have seen prices rise by 30% over the same period while prices in Germany increased by 30%.

However, in France buyers get more for their money. On average homes are 102 metres squared in France compared to 85 in Poland and just 76 in the UK which has overall the smallest homes in Europe in terms of floor space. The biggest homes are in the Netherlands at 119 square meters and Portugal at 112.
...continue reading "Renting vs buying a home: European statistics"


Comunidad Valenciana stood at the forefront of home sales to foreigners in 2011

Comunidad Valenciana (Valencia, Alicante and Castellón) stood at the forefront of home sales to foreigners in 2011, accounting for the 30.6% of the national total. So, this group performed 10,730 transactions for an amount of 1,515 million Euros, according to the latest report of the Housing Observatory of the region.

The Government explained that the data from the end of 2011 "endorse the Consell bet to encourage the region home sales to European buyers", in order to increase the number of transactions over the previous year, when there were 9,300.

The total value estimated of these transactions amounted to 1.515 million Euros in 2011, an amount that also exceeds the quantity achieved in 2010, with 1,431 million Euros.

The Consell has highlighted its commitment to value the housing stock available in Valencia for foreigners in Russia, Sweden, Norway and the UK, especially new homes for second residence, located in the coastline and inland towns.

He pointed out that a secondary house purchase by foreigners in the Comunidad Valenciana is "to consider a number of advantages over other destinations, such as security, facilities, distance to markets and colonies of foreigners of various nationalities."

Finally, the same sources stressed that property investment "is a significant source of revenue for our community, and has an important impact on productive sectors such as construction, tourism, hospitality or services"


Spain declines construction -1.8 per cent The eurozone construction sector recorded an increase in activity in March of 12.4 per cent over the previous month, when it had fallen by 10.4 per cent, while year-on-year the decline was 3.8 per cent, according to data published on Monday by the European statistics office, Eurostat. In the whole of the European Union, production in the construction sector soared 11.8 per cent from February, when it had fallen by 5.7 per cent, while year-on-year it had dropped by 3.9 per cent. Cinco Dias reported that among the countries for which data were available, the activity in the construction sector increased in ten of the countries and decreased in four. The largest increases were registered in Germany (+30.7), France (+17.8), United Kingdom (+14.8) and Italy (+9.5), while the most significant declines were recorded in Romania (-8.8), Portugal (-6.8) and Spain (-1.8). Compared to March 2011, the greatest advances year-on-year were recorded in Sweden (+7.9), Germany (+6.3) and Poland (+2.4), while the largest declines were observed in Portugal (-16.4), Slovakia (-11), Spain (-10.9) and Slovenia (-10.7). Specifically, construction activity fell in nine countries and increased in five.

Europe crisis expands. Economist Paul Krugman fears for the future

25th of September. Paul Krugman writes about Europe in The New York Times: "Is it possible to be both terrified and bored? That’s how I feel about the negotiations now under way over how to respond to Europe’s economic crisis, and I suspect other observers share the sentiment".


It's hard to find reasons for optimism, he say.


...continue reading "Krugman’s Words of Fear and Boredom on Europe"