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Commercial Property for Sale in Andalusia
Tourism and Investment Opportunities in Andalucia
Andalucía in southern Spain is renowned for its booming tourism industry and favourite holiday hotspot for endless fun in the sun. And with such strong tourism, there’s a plethora of commercial opportunities.
Andalucía welcomes millions of tourists season after season – and where there are regular tourist – there will always be a need to provide accommodation, food and clothing, entertainment, transportation, personal care, beauty services, medical care and financial services.
And tourists spend when on holiday. It’s partly why they rent large and lavish villas in Andalucía to enjoy a holiday lifestyle far removed from the standard in their home country. Holidays are made for spending and enjoying a good time. It’s why many countries actively welcome and promote tourism, as it’s very beneficial for the local economy, injecting cash and creating jobs. Spain welcomes eighty-two million tourists each year spending ninety billion Euros which accounts for sixteen percent of Spain’s GDP. Spain is the most visited country in the world after France. British tourists alone inject over thirteen billion Euros into the Spanish economy from their holiday spending.
Residential investment is the most popular form of commercial property in Andalucía by offering short-term holiday rentals and full-time tenancy to year-round residents. With the emergence of Airbnb and direct from owner holiday booking options, owners of residential holiday properties can generate a high return on investment if managed efficiently. As Andalucía enjoys fantastic holiday weather in high demand by the British and Northern Europeans, it’s not uncommon to generate holiday rental income in the summer peak season to cover the annual cost of a holiday rental investment.
The expatriate holidaymaker’s love for the sun-drenched Costa del Sol means commercial property in Andalucía is always in high demand. Commercial premised required to accommodate the demand for the tourism industry means investors are seeking properties for restaurants and shopping outlets as the least risky ventures given eating out and shopping are popular pastimes enjoyed by holidaymakers.
But it’s not just the usual business for sale in Andalucia that’s being purchased by foreign investors. With the trend of medical tourism on the rise in southern Spain, tourists are visiting Andalucía for beauty package tours and medical procedures. Cheaper compared to places like the United Kingdom, many British tourists are coming to Spain for medical attention, including cosmetic procedures.
Hotels for sale in Andalucía are always popular commercial property choices, and a favourite category amongst investors. Demand for tourist accommodation has been historically strong in the Costa del Sol, a tradition that dates back to the 1960’s when holidaymakers first discovered the magic of southern Spain’s Mediterranean coast. Consequently, investment into hotel accommodation is considered low risk with steady returns.
Alternative income opportunities to capitalise upon tourist accommodation can be found in the purchase of land for sale in Andalucía. Caravan and mobile homes are popular accommodation alternatives for young families, the retired and elderly. Serviced land parks with shared facilities make ideal holiday homes and are commonly used by the retired for year-round living. The usual permits are required to apply to convert open land into a holiday park to accommodate caravans and mobile homes.
There’s growing demand for offices in Andalucia due to the increasing need for professional service companies targeting the growing population in Andalucía. Companies providing bespoke financial services such as wealth and asset management, real estate and property management companies, and marine and super yacht services are just a few of the tenant inquiries common for the Costa del Sol clientele.
Prime office space will continue as the top choice for commercial property in Andalucia, particularly in the Costa del Sol where the favourable climate maintains a constant, steady flow of tourism.
The property market landscape for average prime office yields are at a record low in Europe, and this leading category of commercial property in Andalucia set to remain attractive due to their positive yield spread over interest rates and rental growth potential.
Vacancy rates in Europe are at an all-time low, and as a result prime office rents are expected to continue to rise, making commercial property in Andalucía an ideal asset class.
Serviced office space is closely zoned near shops for sale in Andalucia to maximise consumer convenience. Holidays and shopping go hand-in-hand, and why there’s a large variety of shopping facilities in the tourist hotspots. With a major mall in every town, the south of Spain is a shopper paradise that showcases a large variety of flagship tenants, international and local brands, traditional craftsmen and chic boutiques.
Commercial properties for sale in Andalucaia don’t last long, especially in the build-up to peak summer season, where the majority of annual revenue is earned.
Whatever your commercial property needs, call Spain Homes today to arrange viewings of commercial properties for sale in Andalucía. Contact our friendly, multi-lingual real estate experts and benefit from our local knowledge and vast experience of real estate market in Spain. Spain Homes can help you buy all other real estate types including lands, houses and apartments in Andalucia Spain.
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