16 February 2006

Ryanair move into holiday property market

Visitors to Ryanair's website can now click on a link that displays thousands of properties in Spain and Portugal.

The no-frills airline has inked a deal with property firm Majestic Worldwide that will see it place links to its partner's website on Ryanair.com.

Ryanair already has its fingers in several pies outside the air travel industry, recently launching its own range of travel insurance products.

But the budget airline apparently felt the time was right to build closer ties to the property sector as second homes in Iberia become increasingly popular among Brits.

Under the terms of the partnership, the first 50 Ryanair customers to invest in Majestic's La Condesa de Mijas Golf property in the Costa Del Sol won't have to foot the bill for the first 18 months of mortgage repayments.

This should see those quick off the mark save around €20,000 (£13,700) on their properties.

Majestic offers a wide variety of properties ranging from studio apartments to luxury villas.

According to the Irish Examiner, Ryanair says its new property venture could be extended to Italy and France, depending on how the initial deal pans out.

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