Up to the end of October, there were hotel establishments for sale in all Spanish provinces, except in the autonomous cities of Ceuta and Melilla.
The regions with the largest “stock” of hotels were coastal, and the provinces of the Balearics and Malaga, with 91 in each case, had the highest number of hotels for sale on the platform.
This was followed by Alicante (72), Girona (69), Barcelona (60), Las Palmas (49) and Granada (48).
In inland provinces such as Cuenca and Navarra, the ‘stock’ doubled, along with Murcia, while in Jaén it tripled.
Furthermore, in important tourist markets such as Barcelona (-22.1 %), Valencia (-17.5 %), Balearics (-10.8 %) or Castellón (-10.5 %), the number of hotels for sale decreased compared to October 2021.
In Malaga, meanwhile, supply increased by 28.2 %, while in Madrid it rose by 27 % to 47 listings. In Cádiz it also shot up by 69.2 % and even Teruel saw supply increase by 55.6 %.
In contrast, provinces such as Álava, Albacete, Guipúzcoa, La Rioja, Lleida, Ourense, Navarra, Soria and Vizcaya had less than half a dozen hotels for sale, according to Idealista, which has more than 1.5 million ads for flats and houses for sale or rent.
Any attempts made by the Balearic governbment to limit foreign investrment in properties could hit the hotel industry.
3 comments
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Maybe the government can buy some of them and transfer them into low cost apartments for the locals to buy or use it for short term staff coming for the summer. Creativity is needed- does the government has that or not?
Adam OstenfeldI think you're getting confused with the UK government which is doing a great job of destroying the economy there.
That means that it’s time to leave and the government will achieve their goal of destroying the economy !!!!!