The reduction in the number of low-cost flights to property hotspots poses no threat to the value of overseas property, says Conti Financial Services.
The rising cost of fuel has forced Ryanair to cut back on the number of flights to several popular destinations. It has temporarily suspended its operations in Poland and Palma. And Easyjet has cut flights to a number of destinations, including Spain, but has yet to axe any routes altogether.
Simon Conn, sales and marketing director at Conti, says: “Any reduction in the number of low-cost flights will not affect the value of investors’ overseas homes.
“Investors gravitate towards lo-cations with airports nearby, especially if they are served by budget airlines. But we always warn buyers that there are no guarantees that cheap flights will continue.”
He adds: “Investors must look beyond companies such as Ryanair and Easyjet because other European carriers are now competing with UK-based budget airlines.”