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Holiday homes on the increase.

The Spanish newspaper El Pais has reported that almost one third of the 50 million
tourists who visited Spain in 2005 stayed in private accommodation such as
holiday homes or rented properties rather than hotels. This represents an
increase of almost double on a decade ago. Of the 770,000 properties started
last year, 110,000, or 20%, are expected to become holiday homes, rising to
150,000 by the year 2010, half of which are expected to be bought by
foreigners, principally British and Irish buyers.

Foreigners buy 70% of properties on the Spanish coast

Dubai Property News

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