Property Overseas

November Newsletter 2008 Villa Marketing Marbella - The current worldwide financial crisis is affecting overseas property destinations differently. Some countries are being hit badly whereas others can actually gain from this situation.

One of the important factors is how the financial crisis is affecting the airline industry. In the past some destinations have grown due to low cost carriers opening routes to those countries.

In the present scenario some low cost routes have been cancelled and this affects the property market at the destination point.

According to an article in telegraph.co.uk the collapse of some budget airlines has contributed to a dramatic drop in property sales at the destination point.

Telegraph.co.uk quotes Valencia in Spain and Fez in Morocco as losers due to Ryanair cancelling flights to these airports. Granada in Spain has also been affected by Monarch cancelling their flight from Gatwick.

As travel companies struggle with rising fuel costs and smaller profits, airlines are toppling like dominoes. In the past year, 25 airlines have folded, including the tour operator XL, the low cost Zoom and the luxury business carrier Silverjet.

Telegraph.co.uk quotes the Costa del Sol amongst the winner areas that stand to gain in the airline industry shake-up.

Malaga airport has flights from all major European cities and most flights are an average of only two to three hours flying time. Malaga is a consolidated route amongst the travel industry and the expansion of Malaga airport ensures a range of carriers will continue to serve the Spanish coast.

Works at Malaga airport are well under way and the new terminal will open next year.

Marbella is one of the world's most exclusive areas and has many European and British second home owners. These owners plus the tourists visiting Marbella's wide range of exclusive Hotels are a secure client base for the airlines serving Malaga airport.

This coming winter shall probably see more travel routes disappearing. Therefore, international buyers must be aware of the importance of choosing destinations with consolidated international airports which don't run the risk of airline closures.

Marbella is one of these destinations. Although the property market is slow on the Costa del Sol, Marbella is still proving to be attractive to international buyers. There is the additional benefit of being able to find some great value at the moment as it is clearly a buyer's market.

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