FUENGIROLA, SPAIN, December 25, 2009
/24-7PressRelease/ -- Flipping through the local newspapers that other day I came upon a small article that just shows that even in a downturn, some businesses are still expanding and benefiting the local economy. In this case it is Ryanairs new base at the Malaga airport.
The reason for my interest in this article, is the fact that even during a period of doom & gloom there are still those looking to expand their businesses as they feel (rightly or wrongly) now is the time to get the best deal.
In the case of Ryanair, the low cost airline will be investing 170 million euros at the airport to set up a new hub, basing four planes there and creating 19 new routes, bringing the total serving Malaga to 39. Four of the new routes will be domestic ones linking the Costa del Sol with Santiago de Compostela, Santander, Valladolid and Zaragoza. All wealthy, northern areas of Spain. Furthermore all the new international routes are to mainland Europe including Paris, Berlin, Venice, Bratislava, Oslo, Stockholm and many more.
Understandably as the UK and Irish market is quite saturated with flight to and from Spain and the economies are still in the doldrums.
The new base with 360 flights a week will start operations in June 2010 and will create 200 new jobs directly and according to Ryanair a further 2,000 jobs locally at the airport. Furthermore the hub is set to become Ryanair's 3 largest in Spain after Alicante and Madrid. Although the new jobs created will be welcome, it will not make much of a dent in the impressive unemployment figures.
In regards to the Costa del Sol property market though, more regular flights from such higher income destinations, should hopefully help spur potential buyers from these locations to buy primary of secondary (holiday) homes on the Costa del Sol as the region will be far more accessible than ever before.
As always easy accessibility and good infrastructure will stimulate the property market and, in its own small way, Ryanair's expansion will help stimulate the Costa del Sol property market.
Regards
Andrew Belles
About Arriba Estates S.L
Arriba Estates is a family run estate agency based in Fuengirola on the Costa del Sol in Southern Spain. With years of experience selling Costa del Sol property and a strong work ethic we are well placed to offer you the best service possible.
http://www.arribaestates.com
Tel.: 0034 952 198 590
Email: info@arribaestates.com
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