Spain ‘could benefit from collapse of airlines’
October 7th, 2008Category: Generic
Investors with property in Spain could be set to benefit from the problems faced by airlines, it has been claimed.
Zoom Airlines and XL Airlines have both collapsed in the past week and Rome-based carrier Alitalia is currently in dire straits.
Those who own second-homes in far-off locations may find themselves struggling to cope with the economic fallout as demand for properties may reduce with the decline in easy cheap transport, according to NuBricks.com.
However, countries close to the UK, such as Spain, may experience a revival of interest in residences there as buyers look for guaranteed easy access.
The website claimed: "The ultimate winners in overseas property may well be the old standards of Spain, France [and] Portugal."
With fuel costs rising, carriers may need to up prices to more distant locations so holiday homes in nearby countries may be in even greater demand.
In related news, experts at property consultancy Savills recently stated that purchasing houses overseas was still a popular option among the over-50s and 60s in Britain.

