Lively Tourism Industry
Tourist activity on the Costa del Sol has been steadily rising since 2009. 2018 marked the first year that the number of tourists in Spain exceeded 82 million, many of whom spent their time on the Costa del Sol, and 2019 looks to be no different. With this steadily rising tourist activity comes lots of opportunities for investment in property development and hotels.
For people vacationing in Spain, the Costa del Sol is understandably one of the most desired destinations. Boasting beaches that range from lively and crowded to private and untouched and a modern gastronomy scene, no matter your taste, there is something for everyone on the Costa del Sol. A variety of marinas offer feasts of fresh seafood, and boutique shopping through the quaint city streets makes for a delightful day. Many luxury golf resorts create an opportunity for recreation and leisure. This wide-ranging appeal contributes to the record number of tourists that visit this area year after year.
Another contributing factor to the popularity of the Costa del Sol is the incredible weather that is enjoyed year round. With over 320 days of sunshine each year and an average temperature of 18 °C, the weather is perfectly suited for tourists to take advantage of the wide array of entertainment, recreation, and leisure activities offered on the Costa del Sol.
The large number of tourists obviously has a crucial impact on the local economy. The tourism industry has enjoyed a steady rise in visitors and money spent for a number of years. This high, steady rate of tourism has led to a rise in property development and hotel investment on the Costa del Sol.
Hotel Investments and Property Development
Benalmadena now boasts one of the most beautiful and recently updated hotels on the Costa del Sol, the Palladium Hotel Costa del Sol. Renovated in 2019, this luxury hotel offers close proximity to beaches, golf courses, boutiques, and fine dining restaurants.
A €150 million investment, the Ikos Andalusia in Estepona is slated to open its doors in 2020 with luxury accommodations, numerous swimming pools, on-site spas, and much more.
Hotel Byblos in Mijas was recently acquired by a private investment group who plans to reopen the resort, which has been closed since 2010, in 2021. This hotel boasts former guests such as The Rolling Stones and Princess Diana and looks to reassert itself as the “it” destination on the Costa del Sol.
Investing in a hotel on the Costa del Sol allows investors to take advantage of the high rates of tourism that continue to rise year after year. Analysts are forecasting a property shortage in the near future due to the increasing popularity of the Costa del Sol. This means that owning property in this area will continue to yield higher and higher rates of return. This beautiful stretch of beaches and cities is not only a tourist destination, but also a much sought after place to live permanently or purchase a vacation home, so whether you decide to invest in a hotel or a private property, your money will grow.
Invest in property now to see financial gains in the future
Increasing tourism, high rates of home purchases, and beautiful weather means an investment in the Costa del Sol will likely result in high yields in the future. Property developments in a market that is steadily growing forecasts a steady stream of renters and buyers. Hotel investment means that you will be able to take advantage of the yearly tourism industry that continues to increase.
Investing in property on the Costa del Sol requires knowledge of the market and trends as well as an eye for profitable opportunities. Luckily, Luxury Property Finder Marbella offers consulting and brokerage services. The dedicated and experienced team of consultants will work closely with you to start or build your investment portfolio, adding properties that will generate steady rental yield.
Focusing on desirable locations in areas with a record of steadily increasing rates of tourism means that your commercial investment will bring premium rental prices. These investments will create a solid foundation for investing. And the insights from Luxury Property Finder Marbella’s dedicated team will help you make your investment decisions with confidence.