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Spain promised them happiness with its airports increasingly full of tourists. Until someone calculated how it affects rents

July 3, 2026 by usatoday24

Of the 96.8 million of foreign tourists that Spain received last year, 80.5 million, something more than 83%they arrived through airports. The plane is not only the main entry route for foreign visitors (well above, for example, the road or ports), it also shows a clear growth trend and has led several terminals to arise its expansion to gain capacity and (simply) do not collapse due to the tourist boom. Against this backdrop, someone has asked themselves a question:What impact does it have? that avalanche of ‘air’ visitors in the Spanish real estate market? Tourists and real estate agencies? That tourism influences the residential market, encouraging the flight from housing to vacation rentals and raising prices is not no news. There are studies that have already thoroughly calibrated the phenomenon. What is curious is what the New Economics Foundation (NEF) has done in a report commissioned by Transport & Environment (T&E), an organization to which it belongs Ecologists in Action: Its technicians have examined how the increase in ‘air tourism’ is influencing housing rentals and, above all, whether we can expect a price increase in the short term. And what have they found out? That there is a direct connection. One, by the way, not at all favorable for the tenants. After analyzing “the effects of air tourism” on the real estate markets of the 12 main economies in Europe and calculating the evolution of prices in the medium term, for the period 2019-2031, NEF technicians have reached a worrying conclusion: the increase in visitors arriving in Europe through airports will affect the pockets of tenants. “We show a transfer of wealth whereby landlords benefit at the expense of tenants, as annual rents in some of Europe’s largest tourist economies are projected to rise by more than €150 a year over the next five years,” points out NEFand warns: “These increases, which represent national average increases, will be concentrated in the main tourist destinations and will mainly affect low-income households.” Can it go further? Yes. That is the general photo. The report commissioned by T&E provides other data that is just as or even more curious. For example, if we focus on the largest European economies dependent on tourism, the impact between now and 2031 will be greater: in Greece the annual increase in rental prices will amount to €163, in Portugal to €193, in Spain to €217 and in Ireland (the worst stop) to €251. In the specific case of Spain, NEF estimates that we will face an “extra increase of 1.6%” annually over the next five years, between 2026 and 2031. If we talk about rents, the average increase is 217 euros. In the case of the average price of housing, the study speaks of 3,500 euros. “Taken together, this would mean an aggregate annual increase in the rental burden of 648 million euros for landlords located in Spain. In the same period, the increase in tourist arrivals by air is projected at 11.8%,” explains. There is another key: these figures show national averages, so the phenomenon may worsen in the most touristy regions. More climbs on the islands? The T&E figures give food for thought. After recalling that there are certain parts of Europe where “local reactions” against tourism are taking place, such as the Balearic Islands, the Canary Islands, Crete and Madeira, T&E points out that these areas are also the most exposed to the arrival of air travelers. There, in the tourist centers, the report warns“tourism can reduce the supply of residential housing by shifting it towards tourist rentals, directing new promotions to visitors or non-resident buyers and making it difficult for local households to move or access a first home.” “We cannot separate the protests against tourism that occur in the streets from the increase in flights above our heads. Trying to manage tourist overcrowding while expanding the airports of Dublin, Barcelona or Lisbon is a losing battle,” claims Bosco Serrano, from T&E Spain. For reference, in the Balearic Islands there are 9.2 arrivals of foreign tourists per resident, the eighth highest value of the European regions. In the Canary Islands they are 4.9 and in Catalonia 2.0. The average for the EU as a whole is just 0.9. What are the causes? For T&E the key is in the “uncontrolled growth of tourism”, driven by the increase in supply, investment in new infrastructure and (in general) the rebound in airport traffic. It’s no surprise. In 2025 Aena registered a record data of passengers. It is important to take into account in any case that the flow of visitors that move the airports may “exacerbate” the crisis of rent (something to be expected if we take into account that many tourists from northern Europe with greater purchasing power fly to Spain), but the reality is that there are other factors that influence the evolution of housing prices. And not all of them depend on tourism. What else comes into play? The imbalance between supply and demand, the fact that new housing is built at much less speed from which new homes are created, the increase in price of materials, the concentration of demand in certain points or the attractiveness that apartments have gained as an investment asset also explain the increase in rents. None of these factors depend on tourism. In fact, there are those who already appreciate signs of a “prick” in vacation rentals, with a loss of interest on the part of investors. Does it only affect housing? No. The report analyzes the impact of tourism in other areas, such as labor or business investment. Regarding the first point, T&E warns that the arrival of more visitors on board airplanes does not always lead to better salaries for workers in the sector. “Tourism employment does not necessarily equate to an improvement in well-being. In 2023, hospitality represented 10% of all hours worked in Spain, but only 5% of the national gross added value,” warns the organization. That tourist rentals rise can … Read more

Sandra Ortega rents hotels to hotels. Amancio Ortega has copied the model with a luxury hotel in Paris

January 27, 2026 by usatoday24

If Amancio Ortega is characterized by something, it is his proven sense of smell. the real estate business by the hand of your investment company. In July 2025, the millionaire founder of Inditex closed the purchase of one of the most luxurious hotels in the center of Paris. The hotel business is not Ortega’s strong suit, but the buildings that house these hotels are, which later rents to large hotel chains. This play is not one more purchase from the tycoonis a business model in which her eldest daughter: Sandra Ortega specializes. The Radisson Hotel Group firm, owned by the Chinese Jin Jiang, and the second largest hotel company in the world, has announced that in the summer of 2026 it will open a new establishment in the building that Amancio Ortega purchased. The great purchase in the heart of Paris. Pontegadea paid 97 million euros in July 2025 for the Banke Hotel, a five-star hotel with 91 rooms that until now was owned by the Derby Hotels chain. Although the purchase of this building is far from being the most expensive investment of Pontegadea, it is the most expensive asset of the hotel investment company. As usually happens in buildings you acquire Pontegadea, the Hotel Banke is located in one of the most exclusive areas of the French capital: on rue de La Fayette, a stone’s throw from the Galeries Lafayette and the Opera Garnier. A privileged location for tourists and executives. Solvent tenants and immediate profitability. Pontegadea strictly follows a common pattern in all its real estate operations: selecting buildings in privileged areas and securing contracts with immediate tenants of maximum solvency for them. Amazon, Google, DHL, Apple, Spotify, Primark itself and Inditex franchises are its main clients. This makes Pontegadea begin to make its properties profitable immediately. In the case of the Banke Hotel in Paris, Pontegadea signed with Radisson Hotel Group almost immediately after its purchase. Given the location and the category that the building already held, the hotel firm has decided to operate it under the Radisson Collection, its most exclusive brand. Of the 905 hotels managed by Radisson around the world, only 42 belong to this line, 4.6% of the total, which highlights the premium level they have given to Ortega’s project. History of the building and its key renovation. This property was built in 1907 as a bank headquarters and was transformed into a hotel in 2009, preserving that historical charm that is so popular in Paris. The hotel closed at the end of September to undertake a series of reforms to adapt it to Radisson standards, opening as Banke Opera Paris in the third quarter of 2026. Radisson’s statement said: “The 90-room hotel will undergo a comprehensive renovation that will reflect a contemporary interpretation of Parisian elegance. The property features a striking Belle Époque facade and classic architectural details, including a famous staircase designed by Gustave Eiffel. Guests will be welcomed into a 19th-century atrium that will house a reception, bar and restaurant. Additional amenities include a state-of-the-art gym and wellness facilities in the former bank vault, as well as an attractive offer for meetings and events. The intelligent strategy of the Ortegas. Amancio Ortega and his daughter Sandra have polished a winning formula: acquire iconic properties in key metropolises such as Paris, New York or Miami, make the necessary tweaks and then rent them to top hotel operators. This ensures a fixed income without worrying about daily management, maximizing the value of its premium locations. In France, Pontegadea has seven acquisitions, six of them in Paris, including an office building for 227 million euros in 2024 near the Opera, integrated into the ambitious Grand Opera project. Sandra faithfully follows this paternal model, diversifying the family empire into high-end hospitality. The expanding hotel portfolio. Pontegadea started in hospitality in February 2021 with the Senator Playaballena in Cádiz for 25 million euros. In December 2023, he added two boutique hotels in Palma de Mallorca for 35 million to a Swedish group, showing how they climb from Spain to the world. Ortega’s hotel business extends across the pond, with the Epic Hotel in Miami and the Iberostar on Park Avenue in New York. Meanwhile, Radisson reinforces its presence in France with four more openings, reaching 34 hotels in total and 11 in Paris with around 1,700 rooms, thanks to strategic partners such as Pontegadea. In Xataka | Seven of the ten largest fortunes in the world in 2026 are due to AI: this illustrative graph makes it very clear Image | Gtres, Tripadvisor

Korea created 10 m2 micro-flats for students. Rising rents are filling them with more than just students

December 9, 2025 by usatoday24

If Kim wanted to walk around her house in Seoul from one corner to another, it would take less time than it took you to read this sentence. It’s not that it’s exceptionally fast. It is that he lives in a goshiwonthe quintessence of micro(micro)flats South Koreans, tiny dwellings that in theory were not planned as homes but that necessity turns into the residence of more and more young people in the country. Kim herself is a barbaric example. Despite being 31 years old, having a job as an office worker and having lived in Seoul for five years, he has had to abandon his one-room studio to move to a goshiwonthe same type of accommodation he resorted to when he settled in the capital in 2017. He is not enthusiastic about the idea, but given the rent escalation He doesn’t have many other options left. What is a goshiwon? Microhomes. And micro can be understood in this case in the most literal sense of the word. The goshiwon (either gosiwon) are mini studios that can be rented to affordable prices and they gather the essentials to survive: a bed, wardrobes and some space to install a desk and (perhaps) a shower cabin. Of course, not all goshiwon They are the same and the characteristics can change a lot from one apartment to another. On the Korea.net platform they point out that the rooms are usually around 10 square metersalthough there are those who speak of cabins of barely 3 m2 and on TikTok you can see people showing gosiwons of less than 7 m2. There are also broader options, which exceed the 30 m2. It is not strange that they are located in buildings with common services and its tenants must share bathroom and kitchen. Another thing they don’t always guarantee is a window to receive natural light. Are they that cheap? Yes. The first thing to keep in mind is that the goshiwon They were not designed to serve as stable and permanent domiciles. Korea Herald account that initially, back in the 70s, were designed with students focused on passing their exams and who only needed a space in which to spend the nights between visits to classrooms and libraries. So clear was his approach that the name gosiwon can be literally translated as “examination room”. Hence, among the little furniture they include there is a bed and a small desk. Everything else was superfluous. The undeniable thing is that it is a much more economical accommodation option than other rental formats. Herald explains that one of those micro apartments in Jongno-gru, in the heart of Seoul, it can cost between 400,00 and 500,000 won per month, about 270-340 dollars. In university areas there are even for 150 dollars. Its management is also simple and does not require large deposits. Nothing to do with almost 7,000 dollars deposit and 500 per month that the most conventional studies require on average, according to Danabg; or of course the very high disbursements of the insurance system jeonse rental. Why are they news? The goshiwon They have existed for decades, but it takes a look at the South Korean press to see that have become in news. The reason? Little by little they are making their way among a new audience, different from the one that demanded them decades ago. The format seems to be triumphing among foreign students who spend a few months in Seoul and young South Koreans who, like kimhave been suffocated by the rise in housing prices. That is precisely what just reported the newspaper Korea Times. And do you provide data? Beyond Kim’s testimony, the newspaper provides a series of data which show a clear trend: although the use of goshiwon by young South Koreans is not yet widespread, it is becoming more frequent. In 2024, 5.3% of households headed by people between 19 and 34 years old were registered in homes that are not legally classified as such, which includes from goshiwons to houses made from ship containers. It is a low percentage, but it stands out for two reasons. The first is that if we talk about South Korean households in general, the ratio drops to 2.2%. The second is that this 5.3% represents the highest figure in the last five years, only surpassed by 2017, when it reached 5.4%. In 2020 the rate was actually 3.2%. “This trend coincides with a continued influx of young Koreans to Seoul and the capital metropolitan area and an increase in the costs of their primary housing options,” comments Kang Mi-naexperts from the Korea Research Institute of Human Settlements (KRIHS). Are there more factors at play? Yes. The goshiwons have become a good option for university students who come to South Korea to study, but the Seoul residential market is facing a scenario of rising costs that is not unknown to us in Spain. a few weeks ago The Chosun Daily published that housing prices in the capital had reached their highest values in the last seven years, with monthly rents also experiencing record increases. To that is added the increase in price of leases through the jeonse system, which requires a large initial deposit. Images| TikTok 1 and 2 In Xataka | South Korea has found the formula to improve its birth rate: companies pay fortunes to their employees to have children

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