Spanish second homes prove alluring to business travellers

A flash pad in Spain is a fine choice for businesspeople who travel often

As the number of business travellers jetting into and out of Spain increases, a growing number of these corporate commuters have begun investigating the option of snapping up a second home in Spain rather than having to rely on hotels for their home-from-home comforts…

Data released this week by the Global Business Travel Association (GBTA) Foundation has revealed that business travel across Europe is expected to increase significantly this year, with the number of corporate jet-setters dealing with Spain set to rise by 6.6%.

This growth is expected to increase Europe-wide spending in business travel by €157 billion, with the offshoot of that expected to be positively felt in the purses of local businesses, hospitality industries and real estate sectors.

With the relative weakness of the euro against many leading currencies, the affordability of property in Spain is proving attractive to a wide spectrum of people, including general tourists to Spain as well as business travellers.

Travel website Travelpulse has suggested that more and more British businessmen and women dealing with Spain have begun exploring the option of purchasing a second home there – for convenience purposes primarily, but also because a home in Spain affords them greater chance to involve their family in their work, and is seen as a sensible investment at a time when the property market has begun to recover.

“Business travellers often bring spouses or family, discover new interests abroad and, in general, prime the pumps for all manner of travel and investment,” said Travelpulse editor James Ruggia.

A handy ‘business base’ makes the jet-setting much easier, Ruggia added, and the attraction of an affordable ‘working home’ near to the beach, sea and mountains is understandably strong for many stressed-out travellers.

Recent data has confirmed that British buyers in particular have flooded back to the Spanish property market in their droves.

Transactions involving a UK citizen rose by 40 per cent between 2013 and 2014, and the trend for 2015 so far appears to be an even steeper increase in Brits buying property in Spain.

Figures from Spain’s national institute of statistics (INE) show that the number of properties sold in Spain in 2014 rose 2.2 per cent in 2014 as lending criteria was loosened and more and more Spaniards gained employment and felt financially secure enough to make an investment.

The continued recovery of Europe’s economies – and its knock-on effect of increased business travel – is expected to have a similar impact on Spain’s property market in 2015.