Valencia Tourist Apartments Account for One-Sixth of Spain’s 306,000 Registered Properties, as the Comunidad has officially overtaken Catalonia
According to the latest report by Spanish National Statistics Institute (INE) there are more than 306.000 tourist apartments registered in the country at this moment, and they represent 1.2% of all the Spanish homes. Valencia tourist apartments, almost 50.000 of them, make up the one sixt of the total number. The report by the INE showed a strong growth of 16.4% in the last year, although the volume of holiday homes remains below that registered in 2020
All these tourist flats represent 1.21% of the total housing in national territory , while a year ago the percentage was 1.13%. These figures are still lower than the 1.28% that it had in 2020, a record year in which the tourist had 321,496 apartments available to use.
By autonomous communities, Andalusia leads the number of tourist apartments, with 70,194, followed by the Valencian Community and Catalonia, with 49,950 and 45,709 flats, respectively. The number of the Valencia Tourist Apartments has, for the first time, overtaken the number of the apartments available in Catalonia.
These communities are followed by the Canary Islands (42,651), the Balearic Islands (25,393), Madrid (16,351) and Galicia (14,775). This is the distribution of tourist apartments in Spain, according to the latest INE statistics, and looking at the trend, it is possible that the number will grow even further.
The number of available beds offered in these tourist apartments, has also gone up and reached the figure of 1,545,368 in February of this year , compared to 1,455,967 in the same month of 2022.
By province, Malaga is the one that currently has the most holiday rental apartments (35,360), dethroning Alicante, which was ranking as number one last year (33,115). The Balearic Islands are next on the list (25,393), followed by Las Palmas (23,161), Santa Cruz de Tenerife (19,490), Girona (18,498), Madrid (16,351), Barcelona (14,188), Cádiz (12,424), Valencia (11,308 ) and Tarragona (10,354).
On the other side of this list is Palencia, where, in the whole province, there are only 167 tourist homes, according to the INE.
The Spanish Federation of Tourist Housing and Apartments (Fevitur) has published a report which tried to estimate the full impact of the private tourist apartments on the economy . According to the organisation, the private holiday homes contributed 20,388 million euros to the economy last year, including reservations, leisure, restaurants, activities or purchases . And, the 80% of that income stayed in the municipalities where the vacation rentals are located.
Fevitur´s report also confirmed that the main users of this model are families and couples, and predicts a low impact of the new Housing Law on the tourist apartment market.
Thanks to the latest regulations we will probably not see many new Valencia Tourist Apartments coming to the market, since it is starting to be almost impossible to obtain the licence in the city.
This article is brought to you by Expat Hub Valencia, a property buying agent in Valencia. Using the Expat Hub’s services, you will be able to successfully navigate Valencia’s complicated property market in no time.
© The Number of Valencia Tourist Apartments To Hit 50.000 Mark Soon – valenciaproperty.es
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