Artisans in Oaxaca Mexico: Vacation Travel

Holiday Accommodation Industry Expands in Spain as Property Owners Struggle to Pay their Mortgage

Barcelona, Spain (PRWEB) May 30, 2008 -- Recent mortgage and interest rate rises have prompted an influx of available holiday accommodation in Barcelona, and other Spanish holiday cities, just in time for the 2008 peak summer tourist season. Those in the short term accommodation business, Get Ready Rentals included, are delighted to have the extra bed space to meet the growing demand from Barcelona's swelling tourist market.

Spain's housing crisis is far from over. Many property owners, mostly local residents, are struggling to pay off their mortgages or selling at a loss out of desperation, while foreign investors enjoy the Spanish lifestyle with their holiday homes and coastal retirement villas. Forecasters, such as the Global Europe Anticipation Bulletin are predicting dramatic and ongoing consequences, including a collapse of the already "stricken real estate market...towards a recession and national banking crisis".

Whilst sun- seekers from other European/UK nations were happy to have secured great value investment property, many local home owners are now unable to afford the increase in interest rates and mortgage payments on their comparatively low incomes.

It's clear that the problem is not going to resolve itself quickly, and most agree that it will take some years to develop a bit of stability in the market, but local homeowners are really feeling the pinch and are looking for new ways to ease the strain. They are left with a choice of either trying to sell their property at a loss, or try to make ends meet by renting their property at premium rates, targeting the steadily growing demand from the tourist market.

But is it a viable solution? The European Cities Tourism Report 2006/2007 published by European Cities Marketing pegged Barcelona as one of Europe's top three tourism source markets, with a bed-space growth rate of 57% over five years between 2000- 2005. Barcelona's attractiveness as a hot holiday destination has brought with it an increased need for holiday accommodation, providing an opportunity for local home owners to capitalise (as best they can) on their investment.

These developments have delighted those in the Barcelona holiday accommodation (http://www.getreadybarcelona.com) industry, such as Gaizka Pujana, owner of holiday apartment rental business Get Ready Rentals.

Since 2003, Pujana has been providing holiday apartments in Barcelona (http://www.getreadybarcelona.com) to tourists, and naturally, has noticed the increase in demand for bed space, particularly during the busy summer months between June and September.

"It's unfortunate that local home owners have been forced into this position, but at the same time, renting their property to tourists is also providing them with a way out of the housing crisis" he says.

With the most basically fitted apartments in Barcelona (http://www.getreadybarcelona.com) attracting prices of 80-120 euros a night for two people, its easy to see why a property owner would elect to aim for a four month summer turnover in the vicinity of 10,000 euros, as opposed to 4,000- 7,000 euros return on a one to two bedroom property, from a longer-term rental contract.

"The good news is that more and more tourists are coming, and they're unlikely to stop" Pujana says. "Barcelona is a great city for holiday makers, as are many other Spanish cities, so it's good news for everyone in that the city can cope with the increasing demand for holiday accommodation, tourists can enjoy their time in Spain and home owners get a boost to help pay off their mortgage" he says.

It's clear to see that Pujana believes the influx of tourists is happening Spain-wide and not just concentrated on the Catalan capital: Get Ready Rentals has, since 2007, opened several other Spanish city destinations, offering short term apartment rental in Valencia (http://www.getreadyvalencia.com), Costa Del Sol holiday accommodation (http://www.getreadycostadelsol.com), apartments in Granada (http://www.getreadygranada.com), and accommodation in Seville (http://www.getreadyseville.com). All cities are doing well and Pujana reports that most new properties that advertise with Get Ready occur as a result of home owners contacting him directly to represent their accommodation.

It seems that as long as the tourists continue to come to enjoy their slice of the Spanish lifestyle, things are looking up, at least a little, for home owners struggling to pay off their investments. It could just be a viable solution after all.

MORE ARTICLES:

Uncovered: A New Resource for Real Estate Investment Opportunities in Puerto Vallarta, Mexico
fundVallarta announces a full online resource for discovering real estate investment opportunities in Puerto Vallarta, Mexico. With conditions similar to the property boom in California, Puerto Vallarta is poised to become an international performer with a solid return on investment. Visitors are able to access a significant knowledge-based investment resource center at the fundVallarta.com website.

Spring Break Soccer Training and Spanish Language Camp in Puerto Vallarta, Mexico
Spring break soccer training and Spanish language camp will take place in Puerto Vallarta, Mexico.

Resort in Mexico's Riviera Maya Offers Luxury, Family Fun, and Culinary Excellence
A recently completed expansion provides all-inclusive getaway at the Hotel Marina El Cid Spa & Beach Resort.

Celebrate Grandparents at Grand Velas Resort in Puerto Vallarta
Dolphin Encounters, Spanish Lessons, Mexican Folkloric Night and More As part of the Grandparents Package Available Until October 1st

Dream Destination Wedding in a Puerto Vallarta Villa
Every woman dreams of her wedding at some exotic destination with beautiful white sand beaches, pristine clear waters, magnificent Villa and surrounded by her close ones. If you thought this is just a dream then you could not be more wrong. You can have your wedding with great style and sophistication in a luxury Villa in Puerto Vallarta, Mexico.

In-Suite Spa Treatments Exude Romance in Puerto Vallarta, Mexico
New In-Suite Spa Treament and Diamond Bath for Couples at Grand Velas All Suites & Spa Resort

The Beaches Of Puerto Vallarta
The beaches in and around Puerto Vallarta may be the most diverse in Mexico. Located at the midpoint of Banderas Bay, the area surrounding Puerto Vallarta boasts 34 miles of coastline, 26 of which are sandy beaches. Within the city, the beaches are elegant and pristine, bordered by restaurants and resorts. Beaches to the north of the city tend to be longer and wider, with great opportunities for surfing and swimming. South of Puerto Vallarta, the mountains topple into the sea in places, creating placid coves and intimate sandy pockets.

The Southern Pacific Coast has Snatched the Attention of Investors from the Northern Pacific Coast
There are so many wonderful things abouth Costa Rica's Southern Pacific coast. Each city has its own unique attractions that have really sparked interest with investors who see the vision and want to be part of the growth in Costa Rica.

Exploring Vacation Destinations: Oaxaca, Mexico
Located in southern Mexico, Oaxaca is the historic homestead of the Mixtec and Zapotec peoples With over 3

Win a Luxury All-Inclusive Mexican Vacation for a Family of Four in Puerto Vallarta, Mexico
Family Scavenger Hunt Leads to 4-Day/3-Night Mexican Vacation at Grand Velas All Suites & Spa Resort

Discount Last Minute Puerto Vallarta Packages To The Four Seasons Resort Punta Mita
We managed a discount last minute Puerto Vallarta package to the Four Seasons Resort Punta Mita. In truth the discount was the bonus, because we fully intended to go there anyway, and pay the full price, but thanks to some work online, we got a huge discount. A quick thank you to The Vacation Bargain Finder, details of which can be found at http://www.worldwidevacationspots.com/pages/Vacation-Bargain-Finder.html

Livin' La Vida Loca at Puerto Vallarta, Mexico
Mexico is in itself a paradise with its lot of places that offer nothing but the best comfortable life to anyone. Out of the several coastal resort-type offerings in the region, Puerto Vallarta is possibly the greatest epitome of wonderland.

A Mexico Vacation Special To The Maroma Resort In The Mayan Riviera
Some very good reasons for booking a Mexico vacation special and choosing the best of luxury hotels the Maroma Resort in the Mayan Riviera

Casa Velas in Puerto Vallarta, Mexico Receives AAA Four Diamond Award
Casa Velas Hotel Boutique in Puerto Vallarta, Mexico, is again joining the ranks of AAA Four Diamond Award winners. Casa Velas is the only adults-only all-inclusive golf resort in Mexico to receive this AAA Four Diamond award.

Puerto Vallarta Vacation Review
Just returning from a wonderful trip to Puerto Vallarta, I've decided that tropical vacations are good for the "soul". It's important to take the time to get a way from the everyday routine.