Spain and the ‘ryanair effect’

New research reveals the true impact of low-cost flights on house prices…

A recent survey by Savills on the effects of buying overseas property near airports, found that second homes purchased within 10 miles of an airport served by a low-cost airline were valued at 39% higher than those further away.

This phenomenon, which has become widely known as the ‘Ryanair Effect’ after the popular Irish budget airline that has become synonymous with cheap-as-chips air travel, has taken hold of many of the Spanish Costas, opening them up to increasing numbers of tourists and property investors alike.

Savills found in their survey that properties served by low-cost airlines had additional rental incomes of around 30%, and therefore when looking to invest abroad, one should consider not only ease of accessibility, but also price of accessibility.

A spokesperson for Kyero.com. commented: “2006 saw the British government take the distinctive step to offset ministers’ flights, reducing their carbon footprint and becoming more environmentally and socially sound with this high profile step 

“With flights becoming ever cheaper and budget airlines widening their reach on the Spanish market in particular, it is important not only to consider the positive financial results of this growth, but also to look at this impact on the environment and to consider ways that you as an individual can balance this”