The Majority of Tourists to Spain Are From the UK
With all the exposure on the Spanish Tourist Board on TV and news papers its hard to imagine that the Tourist Board is still showing almost the same tourist figures as the previous year up in till the last ¼ of 2008. A drop in tourism in September of almost 7% had indicated that financial conditions had started to take an effect on visitors traveling to Spain.
The majority of tourist to Spain are from the UK. Followed by France then Germany then the Scandinavian countries. Spanish property owners from the UK are worried about the rental potential of their hard earned purchase and making the return they have been looking for. I would like to point out that you should never buy foreign property unless you can survive without renting it out. If you are totally depending on the rental income from the Spanish tourists to pay for the mortgage then you are opening yourself up to the fluctuations in the economy and the possibility of holiday makers changing there choice of destination for their next holiday.
One location can be very popular one year and then not so popular the next. To make sure you avoid any possible heart ache due to missed mortgage payments then there is two points you should seriously consider. The first is to make sure you rent out your property at any price you can get no matter how low it is. The second point is to sell your property as quickly as you can and then buy well within you budget and down size your property from a villa to a town house or apartment with 3 bed rooms down to a 2 bedrooms.