Spain Becomes a ‘Lifestyle Choice’

British newspaper, the Telegraph, last week heightened Spain’s profile, describing it as a ‘lifestyle destination’, a confirmation of the country’s continued move away from an out and out investment vehicle. More and more people are moving to the country for the simple reason of enjoying the country itself, rather than simply purchasing property there as an investment or holiday home.
Breaking its previous visitor numbers record, the tourism ministry revealed the number of tourists arriving in Spain during the first seven months of 2007 reached 33.8 million, a 2.0 percent increase over the same time last year. Spain expects to end the year with around 60 million visits by international tourists ramping up its tourist intake total by an impressive 4.5% over 2006.

This could be viewed as somewhat surprising, given that the country dropped to 19th place in the recent Economist Pocket World in Figures Quality of Life Index, just one place behind the UK. However, a combination of unseasonably poor summer weather coupled with a continuation of high property prices saga in the UK has led wannabe expats to take a wider view, accepting an altered lifestyle on balance, in exchange for certain benefits. Spain, along with France, is especially popular amongst the younger UK buyer, often for the simple reasons that property at home is deemed too expensive and these countries, with their affordable property and lifestyle, are as close to home as they can get. Young parents seeking a better environment for their children to grow up in relish the opportunity to be part of a community and generally live life at a less frenetic pace whilst still being able to regularly remain in contact with friends and family. There is no doubt however, that the number one thing keeping Spain at the top of the overseas property charts is its trump card ’sunshine’. Being the closest place within a 2 hour travel time window from the UK with destinations serving up guaranteed winter sun, there is no escaping the fact that this gives Spain as massive advantage and bucket loads of destination appeal.

Going forward into the future, with climate change at the top of the agenda and holidaymakers increasingly seeking greener ways to travel, the added cost of long distance travel in the form of air travel taxes and carbon offsetting put destinations with proximity to the UK back in pole position and Spain, a truly viable place to call home. Britain, Germany and France, Europe’s three biggest economies, accounted in that order for three-fifths of all tourist arrivals to Spain so it is little wonder that according to the United Nations World Tourism Organization, Spain, is officially the second most visited country in the world after France since 2004 when it unseated the United States.

Indeed, it seems as though the profile of the traditional ‘retiree’ overseas property purchaser is fast becoming outdated. An increasing number of potential investors are under the age of 55, with a survey conducted last year by Banco Halifax Hispania finding that of the people who would most like to live in Spain, nearly 70% were under the age of 55.That said, Spain remains the most popular destination for retirees, the south-eastern Mediterranean coast of Spain having the highest percentage of retired persons in the world.

Having lived and worked there myself and as an overseas property expert actively comparing Spain to the host of other overseas property locations on offer, there is no doubt Spain remains unrivalled as a ‘package’ in terms of its proximity to the UK, climate, range of property on offer and subsequent financial viability, the reign of Spain continues.