1. February 2011 11:53
Earlier in the month, I brought you my suspicions that the economic downturn in Europe, particularly in countries like Italy and Spain that are suffering the worst debt crises economy-wise, would eventually spell good things for the European property market. Now comes the proof in the pudding - both Italy and Spain have emerged as the most popular and best value for money when it comes to tourist destinations in the eurozone, and are likely to continue as such into the new year. And as every body knows, where a tourist boom goes, a property boom will follow.
The announcement of budget airline Ryanair's Q4 2010 losses didn't come as that much of a shock to those in the travel and tourism industry - while the airline's supposedly 'rock-bottom' fares have been creeping up in recent years, so too has the demand for international travel been dampened as consumers tighten their belts post-GFC - in the past year, where Europe has seen arguably the worst roll-on effects yet from the 2008 crash, even the more inexpensive of trips had to be reviewed or postponed unless they were really a necessity.
The industry has now responded, however, by cutting prices to rock bottom. While Ryanair's associated costs in its home airports of Ireland continue to skyrocket, it has made some room in its services for Italy and Spain, where demand continues to go through the roof. The abundance of small, cheap local airports to fly to in these countries has seen and will see them both become increasing transnational hubs for Ryanair's clientele - and ditto the other budget airlines. Spain is now the cheapest country in the eurozone to travel to according to the UK Post Office's latest travel survey, while Italy's airports have also recorded increases in arrivals despite the economic slump, particularly Calabria which recorded a strong 16% increase in passenger numbers last year. It is obvious that tourism in these countries is bouncing back and becoming more resilient to economic woes, which can only mean good things for the housing industry.
Luckily to help you cash in on this promising tourist boom, Eurobrix has a huge range of properties for sale in every price range in both these countries, from more modest apartments to sprawling villas, still being picked up at ridiculous bargain prices. For a full list, see both our Italian and Spanish property sections, or visit our main listings page.