Thousands of hotels still for sale in Spain despite booming tourism sector
IF YOU’VE ever fancied owning a hotel in Spain, there are plenty to options with the Idealista property portal saying it has over a thousand listings- mainly in tourist hotspots. Though numbers recorded an annual fall of 3.5% in March, there are still almost 1,400 hotels available via the portal.
There was a sharp increase in hotels being put up for sale in the wake of the Covid-19 pandemic, and listings reached a high over a year ago.
Unsurprisingly, tourist areas like Alicante, the Balearic Islands, Granada, and Malaga have the highest numbers on the market.
The biggest rises in the last 12 months came in Almeria, Leon, and Murcia.
Two areas recorded triple figures of availability, namely Alicante province with 126 hotels and the Balearics on 102.
Half of the country’s provinces showed decreases in hotels for sale led by Las Palmas (-34), Malaga (-29) and Girona (-15).
There were also fewer listings as well in the two major cities of Barcelona (-12) and Madrid (-10).
Meanwhile, 11 provinces did not reach double figures:: Alava, Cordoba, Guadalajara, La Rioja, Ourense, Palencia, Segovia, Soria, Valladolid, Vizcaya and Zaragoza.