DOCSLIB.ORG

Evaluating the Regional Impact of a New Road on Tourism

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Evaluating the Regional Impact of a New Road on Tourism Evaluating the Regional Impact of a New Road on Tourism Javier Ferri University of Valencia Javier Ferri. Departamento de Análisis Económico. Universitat de València. Campus dels Tarongers s.n. 46022. Valencia. Spain. Telephone: +34 963828695. Fax: +34 963828249. Email: [email protected]. Abstract The aim of this work is to establish whether the opening of a motorway that extends along the east coast of Spain has significantly contributed to expanding hotel tourism in the Valencia Region. Some of the most important tourist destinations in Spain, both domestic and international, are located in this region, such as Benidorm, Peñíscola and Gandía. The A-7 motorway, also part of the E-15 road network, is not only a faster and safer means of road communication for tourists but also provides a new gate to Europe, connecting with other motorways. Using monthly data on nights spent in hotels by residents in Spain and abroad, an intervention analysis has been performed for the three different provinces in the Valencia Region: Valencia, Castellón and Alicante. Robustness of the results has been checked by means of three different approaches. The conclusion is that the impact on tourism of the motorway has been varied and depends on three factors: 1) the origin of the tourism; 2) the province of destination and 3) the section of the motorway in question. Keywords: Motorway, regional impact, tourism, Spain, intervention analysis. JEL: R42, C53 Acknowledgements: I wish to thank Vicente Monfort for the data he provided for this research. Oscar Alvarez, two anonymous referees, and the editor offered helpful comments. Financial support from CICYT grant SEC2002-00266 and AUMAR is gratefully acknowledged. 2 1. INTRODUCTION In June 1974 the first section of the new A-7 toll motorway extending along the East Coast of Spain was opened. The road was finished in March 1985. It was thought that, among other positive effects, this new road would contribute to increasing the demand for tourist facilities in all the regions involved. This paper aims to establish, using as a partial indicator the number of nights spent in hotels, to what extent the observed developments in hotel tourism in the Valencia Region have been due to the construction of this motorway. Some of the most important tourist destinations in Spain, both domestic and international, are located in the Valencia Region such as Benidorm, Peñíscola and Gandía. It is the second most visited region by domestic tourists and it enjoys a 10 per cent share of total international visitors to Spain. During the year 2000, visitors spent almost 18 million nights in hotels located in the Valencia Region. The links between transport infrastructure investment, such as the construction of a motorway or an airport, and regional development are quite complex and depend on market factors as well as on governance factors (see figure 1 in Evans and Hutchins, 2002). Both of them will influence the direct and the indirect economic impact of the motorway. The direct impact includes the increase in output and employment generated by the construction and maintenance of the motorway. The indirect economic effects on the region are originated mainly by changes in accessibility, inward investments and tourism. The problem with measuring these indirect effects in a reliable way is the difficulty in finding empirical evidence of the way the transport infrastructure affects them. The empirical link between transport and tourism destination becomes, therefore, an important piece in any research attempting to measure how infrastructures affect the development of a region. However as Prideaux (2000) recognises, although the economic significance of transport as a factor in tourism demand has been acknowledged by a number of researchers, the literature fails to identify any specific causal relationships. Also Hakfoort et al. (2001) comment in their study to evaluate the regional impact of an airport that “there is no doubt that expansion of airport activity has an impact on the number of firms located in the area, the number of visitors to conferences, the number of tourists and so on, but in many 3 cases is hard to find a causal relationship”. In fact, one reason why different regional studies come to different conclusions is because they make different assumptions about how tourism reacts to a transport improvement. W hether a new and better means of road communication is actually a decisive factor in boosting tourism in a region, is a question that depends on different variables. In particular, the location of the region, the size of the outbound and inbound tourism of the cities that it connects and the length of the average stay are three points which are likely to influence its impact on tourism. The relative location of a region in the main tourist routes is important in explaining possible diversion effects on tourism. As Linneker and Spence (1992) argue, accessibility to areas which are remote from the actual road improvement may be changed. For instance, assume that using the old road the average duration of a trip of a family travelling from the south of France to Marbella is twelve hours. This family, with a non-zero probability, might think it a good idea to rest (or even spend a night) in the Valencia Region, which is approximately half way. Assume now that the time required for completing the journey is reduced by four hours when they choose the faster new road. It could be the case then that the probability of choosing to spend the night in the Valencia Region decreases. Of course the effect on that probability would also depend on the geographical origin of the tourism, but what should be stressed is that there is no clear a priori effect on the Valencia Region of those tourists in transit to other regions. Another matter is the importance of tourism in the cities the motorway connects. The Valencia Region mainly receives visitors from Madrid, who are not greatly affected by the A-7 road in reaching their destination, and visitors from abroad, who largely enter Spain by air. This aspect lessens the importance of the motorway on tourism. Finally, as Crouch (1994) finds, there exists evidence to suggest a different sensitivity of short-haul tourism and long-haul tourism to different variables, including transport costs. If traditionally the tourism an area receives is for long stays, the opening of a faster route would hardly change the decision to visit it. The average length of stay in a hotel in the Valencia Region is 5 days, the highest figure in Spain of among the non-island destinations. 4 I hat seems quite sure is that the A-7 road has captured a substantial part of the traffic previously moving through the old road towards the Valencia Region. But this in itself is not a sufficient condition to increase the demand for tourism in the region as there exists complex combinations of generation and substitution effects. The following sections focus on isolating, on an empirical basis, that part of the evolution of tourism which is due to the opening of the motorway. For that purpose an intervention analysis approach has been used. Although other econometric models could have been chosen to deal with the problem (see W itt and W itt, 1995), by focusing on particular empirical breakpoints and working with univariate models, I avoid introducing strong assumptions on the treatment of the amount of endogenous variables that influence the decision of travelling to a destination. The rest of the paper is organised as follows: section 2 introduces the methodology used, section 3 deals with the data, while the results are presented in section 4 and the conclusions in section 5. 2. METHODOLOGY This study employs a time series analysis methodology. That means, firstly, working with observations with only a time dimension, and secondly, considering these observations to be the realisation of some stochastic process. The main objective of time series models in tourism research has traditionally been prediction (see, for instance, González and Moral (1995, 1996) and Kulendran and King, 1997), although some derivations of them can be exploited to contrast hypotheses on relevant parameters, and this latter line is the one that will be developed here. The crucial point in elaborating a time series model consists of identifying the characteristics of the stochastic process that best fit the time observations. This is the first step and it is known as identification. The stochastic process depends in turn on several key parameters that have to be estimated. Once the model has been estimated, it is necessary to check its validity before using it. One important aspect for validating consists of testing if the residuals of the model are white-noise, that is, if there is any correlation pattern among them. Once we are confident that the model estimated is 5 the one that best explains the behaviour of past observations, it can be used to forecast future behaviour or to contrast a set of hypotheses. This work focuses on the family of linear processes and assumes that the sequence of observations in hand has been generated by an ARIMA process of the form: d r Φ(L)∆ ∆s yt = Θ (L)ε t + µ (1) where yt is the underlying stochastic process of the time series being studied (nights spent in hotels); εt a Gaussian white-noise innovation; L the lag operator; ∆ and ∆ s the ordinary difference and seasonal difference operators, d and r being the times we apply these differences and s the number of observations per year; µ a constant; Φ (L) the polynomial with the stationary autoregressive roots, and Θ (L) the invertible moving average polynomial.
Load more

Recommended publications
  • Spanish Housing Markets, 1904-1934: New Evidence*
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Universidad Carlos III de Madrid e-Archivo SPANISH HOUSING MARKETS, 1904-1934: NEW EVIDENCE* JUAN CARMONA Universidad Carlos III de Madrida MARKUS LAMPE Universidad Carlos III de Madridb JOAN R. ROSE´ S London School of Economics and Political Sciencec ABSTRACT This article makes the first systematic attempt to analyse quantitatively the evolution of Spanish housing markets from 1904 to 1934, a period of dramatic changes in housing demand as a consequence of substantial income and demographic growth. In order to do so, we collect a new database on houses sold and their prices using data from the Registrar’s Yearbooks. Furthermore, we construct a new hedonic index of real housing prices for Spain and its provinces. To our surprise, we found that real housing prices rose slightly over the entire period and, hence, that housing supply responded effectively to new demand for housing. Keywords: housing regulation, hedonic prices, urbanization JEL Code: N93, N94, R30 * Received 29 April 2013. Accepted 28 January 2014. The authors would like to thank to the editor of this Journal, Blanca Sa´nchez-Alonso, and three anonymous referees for their helpful comments and suggestions. Financial support was received by the Spanish Ministry of Economy and Competitiveness projects: 2013/00066/001 (Juan Carmona), ECO2011-25713 (Markus Lampe) and ECO2012-39169-C03-01 (Joan R. Rose´s). The usual disclaimer applies. a Departamento de Ciencias Sociales and Instituto Figuerola, Universidad Carlos III de Madrid, C/Madrid 126, 28903 Getafe, Spain. [email protected] b Departamento de Ciencias Sociales and Instituto Figuerola, Universidad Carlos III de Madrid, C/Madrid 126, 28903 Getafe, Spain.
    [Show full text]
  • Mapping Urban Water Governance Models in the Spanish Mediterranean Coastline
    Water and Society IV 75 MAPPING URBAN WATER GOVERNANCE MODELS IN THE SPANISH MEDITERRANEAN COASTLINE RUBÉN VILLAR & ANA ARAHUETES Instituto Interuniversitario de Geografía, Universidad de Alicante, Spain ABSTRACT The heterogeneity of governance and management models of municipal water supply in the Spanish Mediterranean coastline has increased in recent decades. This diversity is explained by the increase of private companies responsible for the management of the local water service and the presence of supramunicipal public entities responsible for water catchment, treatment and distribution to the municipalities. Based on the review of the existing literature, the information available on the websites of the leading corporate groups in the water sector and contacting with councils, the companies and supramunicipal entities involved in the service of municipal water in the Mediterranean coastline have been identified. The objective of this work is to analyse the territorial presence of the main actors in the urban water management through its cartographic representation, as well as analyse its ownership and importance in terms of population supplied. This analysis shows a high presence of companies belonging to the AGBAR group that supply around half of the total population in the Spanish coastline municipalities. Likewise, there is a regional specialization of certain private companies that concentrate the urban water management for the most part of the coastline municipalities. This is the case of FACSA, which manages the water services in 87% of coastline municipalities in Castellón, or Hidraqua in Alicante, that operates in the 65%. Furthermore, the presence of large supramunicipal public entities is widespread along the coastline, especially in Catalonia and the southeast.
    [Show full text]
  • Official Journal of the European Communities 29.4.2000 L 104/77
    29.4.2000 EN Official Journal of the European Communities L 104/77 COMMISSION DECISION of 7 April 2000 amending Decision 98/361/EC establishing the list of approved zones, with regard to infectious haematopoietic necrosis and viral haemorrhagic septicaemia in Spain (notified under document number C(2000) 943) (Text with EEA relevance) (2000/311/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, as the national provisions ensuring compliance with the rules on maintenance of approval. Having regard to the Treaty establishing the European Community, (4) Scrutiny of this information allows this status to be granted for these catchment areas. Having regard to Council Directive 91/67/EEC of 28 January (5) The measures provided for in this Decision are in 1991 concerning the animal health conditions governing the accordance with the opinion of the Standing Veterinary 1 placing on the market of aquaculture animals and products ( ), Committee, as last amended by Directive 98/45/EC (2), and in particular Article 5(2)thereof, HAS ADOPTED THIS DECISION: Whereas: (1) Member States may obtain for one or more continental Article 1 or coastal zones the status of approved zones free of The Annex to Decision 98/361/EC is replaced by the Annex infectious haematopoietic necrosis (IHN)and viral hereto. haemorrhagic septicaemia (VHS). Article 2 (2) The status of approved continental zone and approved coastal zone in respect of IHN and VHS was granted to This Decision is addressed to the Member States. certain catchment areas and coastal areas in Spain, by Commission Decision 98/361/EC (3), as last amended by Decision 2000/187/EC (4).
    [Show full text]
  • Living in Spain Your Essential Emigration Guide Living in Spain Your Essential Emigration Guide
    LIVING IN SPAIN YOUR ESSENTIAL EMIGRATION GUIDE LIVING IN SPAIN YOUR ESSENTIAL EMIGRATION GUIDE Contents INTRODUCTION p3 About this guide CHAPTER 1 p5 Why Spain? CHAPTER 2 p13 Where to live in Spain CHAPTER 3 p58 Finding Work CHAPTER 4 p66 Visas, Permits and other red tape CHAPTER 5 p75 Retiring to Spain CHAPTER 6 p89 Health CHAPTER 7 p101 Schools & Colleges CHAPTER 8 p116 Finances CHAPTER 9 p126 Culture Living In Spain © Copyright: Telegraph Media Group LIVING IN SPAIN YOUR ESSENTIAL EMIGRATION GUIDE SUN, SEA AND SALVADOR: Spain is home to many delightful towns, such as Cadaqués, Dali’s home town and inspiration The Telegraph’s Living In Spain guide has been compiled using a variety of source material. Some has come from our correspondents who are lucky enough to be paid by us to live there, or other journalists who have made occasional visits, to write travel features or to cover news or sporting events. Other information has come from official sources. By far the most useful info on life in Spain in this guide, however, has come from many ordinary people – ordinary Spaniards willing to share insights into their country and ordinary Britons, many of them Telegraph readers, who have already made the move you are contemplating, and are now residents in Spain. They have discovered what worked and what didn’t, and gone through the highs and lows that accompany any Expat journey. It is their experiences that I believe will be most valuable for you as you make your plans to follow them. Our intention is to provide you with the most comprehensive, up-to-date guide to your destination, with everything you need in one place, in an easy-to-use format.
    [Show full text]
  • Centrist Politics in the Spanish Province of Valencia January 1930 to August 1936
    THE RISE AND FALL OF THE PARTIDO DE UNIÓN REPUBLICANA AUTONOMISTA: CENTRIST POLITICS IN THE SPANISH PROVINCE OF VALENCIA JANUARY 1930 TO AUGUST 1936 Submitted by Stephen Rodger Lynam to the University of Exeter as a thesis for the degree of Doctor of Philosophy in History, July 2018. This thesis is available for Library use on the understanding that it is copyright material and that no quotation from the thesis may be published without proper acknowledgement. I certify that all material in this thesis which is not my own work has been identified and that no material has previously been submitted and approved for the award of a degree by this or any other University. Signature……………………………………………………………………. 1 2 ABSTRACT This thesis is an interrogation of the impact of the Partido de Unión Republicana Autonomista (The Autonomist Republican Union Party or PURA) on the politics of the Spanish province of Valencia, and in turn on national politics, during the politically turbulent years of 1930-1936, the period which immediately preceded the outbreak of the Spanish Civil War. It was the most important Valencian political force and acted as de facto provincial affiliate of the Radical Party, a conservative republican party which was to play a crucial role in national politics. This study uses a wide range of documentary sources, including contemporary newspapers, official papers, and parliamentary records, supplemented by a number of interviews with participants in the events and in-depth case study reviews of two important settlements in the province together with detailed studies of electoral and land ownership data in a further three settlements.
    [Show full text]
  • Wellington's Two-Front War: the Peninsular Campaigns, 1808-1814 Joshua L
    Florida State University Libraries Electronic Theses, Treatises and Dissertations The Graduate School 2005 Wellington's Two-Front War: The Peninsular Campaigns, 1808-1814 Joshua L. Moon Follow this and additional works at the FSU Digital Library. For more information, please contact [email protected] THE FLORIDA STATE UNIVERSITY COLLEGE OF ARTS AND SCIENCES WELLINGTON’S TWO-FRONT WAR: THE PENINSULAR CAMPAIGNS, 1808 - 1814 By JOSHUA L. MOON A Dissertation submitted to the Department of History In partial fulfillment of the Requirements of the degree of Doctor of Philosophy Degree Awarded Spring Semester, 2005 The members of the Committee approve the Dissertation of Joshua L. Moon defended on 7 April 2005. __________________________________ Donald D. Horward Professor Directing Dissertation ____________________________________ Patrick O’Sullivan Outside Committee Member _____________________________ Jonathan Grant Committee Member ______________________________ Edward Wynot Committee Member ______________________________ Joe M. Richardson Committee Member The Office of Graduate Studies has verified and approved the above named Committee members ii ACKNOWLEDGMENTS No one can write a dissertation alone and I would like to thank a great many people who have made this possible. Foremost, I would like to acknowledge Dr. Donald D. Horward. Not only has he tirelessly directed my studies, but also throughout this process he has inculcated a love for Napoleonic History in me that will last a lifetime. A consummate scholar and teacher, his presence dominates the field. I am immensely proud to have his name on this work and I owe an immeasurable amount of gratitude to him and the Institute of Napoleon and French Revolution at Florida State University.
    [Show full text]
  • The Use of Commuting Data to Define Local Labour Market Areas and Urban Areas in Spain 1
    The use of commuting data to define local labour market areas and urban areas in Spain 1 José Manuel Casado-Díaz 2 University of Alicante, Spain Abstract The definition of local labour market areas and other functional areas has attracted much attention during recent decades. The development of this line of research in Spain has however been restricted by the lack of statistical data on commuting for the whole country. This will change thanks to the Census of Population 2001. Prior to it, data were only available for some regions and cities, and that is the reason why only in these areas research comparable to the European and American experience in the field has been carried out. The first part of this paper explores the concept of local labour market area and surveys the analyses developed in Spain on this issue. The second part of the paper consists of an empirical exercise of definition of local labour market areas in the region of Valencia using data from the 1991 Census of Population. Regionalisations have been produced for the aggregate working population and for a set of sub-groups into which the employed population was classified in the Census according to occupation. 1. INTRODUCTION In recent decades a growing number of experts have considered that taking a country as a territorial framework for the analysis of labour market is an excessive simplification, given the different characteristics of the composing markets. This has led to the analysis of labour markets using lower tier geographical units of reference. In the case of Spain, empirical analyses on wage determination, labour market segmentation and many other aspects of Labour Economics, that traditionally were carried out at national level, have increasingly incorporated smaller geographical references, notably autonomous regions and to some extent provinces, as if they were meaningful geographical units.
    [Show full text]
  • Recovered Memory: the Use of Biographic Stories in the Second and Third Generation of Valencian Emigrants to the United States of America in the Early 20 Th Century
    CATALAN SOCIAL SCIENCES REVIEW, 6: 65-78 (2016) Secció de Filosofia i Ciències Socials , IEC, Barcelona ISSN: 2014-6035 DOI: 10.2436/20.3000.02.32 http://revistes.iec.cat/index/CSSr Recovered memory: The use of biographic stories in the second and third generation of Valencian emigrants to the United States of America in the early 20 th century Pepa García-Hernandorena * Universitat de València Original source : Perifèria. Revista de Recerca i Formació en Antropologia, 20(2): 271-289 (2015) (http://revistes.uab.cat/periferia ) Translated from Catalan by Mary Black Abstract When making use of the biographical method, it is quite common to collect stories directly from those who lived the narrated events. Those stories can be focused on either their entire life or specific aspects that the researcher considers relevant or important. There is an unwavering fact related to the research carried out on the recovery of the memory of Valencian immigrants to the United States of America during the first two decades of the 20th century: those who emigrated have already passed away. One may think that their stories have also disappeared with them. However, thanks to exhaustive work with their descendants (sons, daughters, grandsons and granddaughters, nephews and nieces) making use of techniques that are closely related to this methodology (biographical interviews, analysis of correspondence and other documents such as photographs), it is still possible to recover assets that otherwise would have ended up disappearing. The work presented here is organised around several specific issues. If someone narrates another’s a life, what do they really remember? How do they remember it? How do they transmit it? Key words: biographical method, Valencian immigrants in USA, recovered memory, emigrants’ descendants.
    [Show full text]
  • Everything You Never Wanted to Know About Spanish Wines (And a Few Things You Did) John Phillips Wacker University of South Carolina - Columbia, [email protected]
    University of South Carolina Scholar Commons Senior Theses Honors College Spring 2019 Everything You Never Wanted to Know About Spanish Wines (and a Few Things You Did) John Phillips Wacker University of South Carolina - Columbia, [email protected] Follow this and additional works at: https://scholarcommons.sc.edu/senior_theses Part of the Basque Studies Commons, European Languages and Societies Commons, Food and Beverage Management Commons, and the Spanish and Portuguese Language and Literature Commons Recommended Citation Wacker, John Phillips, "Everything You Never Wanted to Know About Spanish Wines (and a Few Things You Did)" (2019). Senior Theses. 277. https://scholarcommons.sc.edu/senior_theses/277 This Thesis is brought to you by the Honors College at Scholar Commons. It has been accepted for inclusion in Senior Theses by an authorized administrator of Scholar Commons. For more information, please contact [email protected]. 1 Thesis Summary The Spanish wine scene is incredibly diverse, and an immense number of different wines are made in the country. Likewise, Spain is incredibly rich in culture, with a wide array of languages, histories, cultures, and cuisines found throughout the nation. The sheer number and variety of Spanish wines and the incredible variety of cultures found in Spain may be daunting to the uninitiated. Thus, a guide to Spanish wine and culture, which not only details the two but links them, as well, may prove very helpful to the Spanish wine newcomer or perhaps even a sommelier. This thesis-guide was compiled through the research of the various Denominaciones de Origen of Spain, the history of Spain, the regions of Spain and their individual histories and cultures, and, of course, the many, many wines of Spain.
    [Show full text]
  • Environmental Impact on the Mediterranean Spanish Coast Produced by the Latest Process of Urban Developments
    The Sustainable City VII, Vol. 1 379 Environmental impact on the Mediterranean Spanish coast produced by the latest process of urban developments J. L. Miralles i Garcia1, S. Díaz Aguirre2 & V. J. Altur Grau1 1UDR F. Eiximenis, Dpt of Urbanisme, Polytechnic University of Valencia, Spain 2Pinar del Rio University, Cuba Abstract The extraordinary urban development that has occurred in Spain in the period of 1997–2007 allows us to analyze directly the generated environmental problems. In this period, between 300,000 and 900,000 houses were built in Spain each year and many of them were built on the Mediterranean coast. In many areas of new urban development, houses are unsold because there is no market and many areas are completely urbanized but not built on. So this reality is a great laboratory where we can directly check the environmental consequences of unjustified urban developments. There is legislation for the prevention of the environmental impacts of urbanization in Spain. This legislation has failed to avoid unnecessary urban development although it has produced clear environmental impacts. The F. Eiximenis research group analyzed select cases on the Valencian coast (between Sagunto and Cullera) for assessing the environmental effects of these urban developments, particularly concerning the transformation of the soil’s environmental value, the consumption of resources and the emissions. The land transformation has been analysed by CORINE data, digital images and direct observation. This paper explains the situation produced and the main findings of the research. Keywords: urban development, urban planning, natural resource management, environmental impact and urban governance. WIT Transactions on Ecology and The Environment, Vol 155, © 2012 WIT Press www.witpress.com, ISSN 1743-3541 (on-line) doi:10.2495/SC120321 380 The Sustainable City VII, Vol.
    [Show full text]
  • Interactive Learning Environments for the Educational Improvement of Students with Disabilities in Special Schools
    Interactive Learning Environments for the Educational Improvement of Students With Disabilities in Special Schools Rocío García-Carrión, Silvia Molina Roldán, and Esther Roca Campos Abstract Providing an inclusive and quality education for all contributes toward the Sustainable Development Goals of the United Nations. High-quality learning environments based on what works in education benefit all students and can be particularly beneficial for children with disabilities. This article contributes to advance knowledge to enhance the quality of education of students with disabilities that are educated in special schools. This research analyses in which ways, if any, interactive learning environments can be developed in special schools and create better learning opportunities for children with disabilities. A case study was conducted with students with disabilities (N = 36) and teaching staff in a special school, involving interviews and focus groups. We argue that rethinking the learning context by introducing instruction models based on interaction benefit children with disabilities and provide high-quality learning and safe and supportive relationships for these students, thereby promoting their educational and social inclusion. Keywords: interaction, learning, disabilities, inclusion, special schools Introduction Globally, children with disabilities achieve low educational outcomes, show significantly lower rates of completion in elementary education, and face more barriers in the transition to higher levels of education, which in the long term has an impact on social exclusion and poverty in the adulthood (World Health Organization, 2011). The Convention on the Rights of Persons with Disabilities reaffirmed the international commitment to facilitate these persons the access to “an inclusive, quality, and free primary education and secondary education on an equal basis with others in the communities in which they live” (United Nations, 2007).
    [Show full text]
  • Bankia and Haya Real Estate Offer More Than 1,600 Properties with Discounts of up to 40%
    The discounts will remain until 30 April Bankia and Haya Real Estate offer more than 1,600 properties with discounts of up to 40% The offer also includes more than 1,100 unique properties (commercial premises, offices, industrial warehouses and plots) and more than 750 garages and storage rooms In total, the campaign has more than 3,500 properties, of which 990 are located in the Community of Valencia, 660 in Andalusia, 590 in Murcia and 520 in Catalonia The houses, all second-hand, are located in province capitals, commuter towns and small towns, offering both urban and coastal housing. Madrid, 09/03/2020. Bankia and Haya Real Estate have released more than 1,600 homes -over a thousand of them for less than 70,000 euros- and 1,100 unique properties into the market (commercial premises, offices, industrial warehouses and plots) with discounts of up to 40%. The offer is completed with more than 750 garages and storage rooms. The 3,500 properties selected for this campaign are located mainly in province capitals, commuter towns and small towns. The commercial offer, known as "El Genio de los Descuentos” (Discount Genie), will keep the current discounts until April 30. Most of the homes are located in the Community of Valencia, with more than 390 properties offered. In Andalusia, more than 380 homes have been selected; 290 in Murcia and 250 in Catalonia. As for the unique properties, they include over 500 commercial premises and offices, 100 industrial warehouses and 530 plots at different levels of development. Of these, more than 400 are located in the Community of Valencia, 150 in Andalusia, almost as many in Catalonia and 100 in Murcia.
    [Show full text]