Buying a flat in Spain for rent is an increasingly popular way to make a return on your investment. Not only the inhabitants of rich European countries, but also Poles invest in real estate in Spain.
We wrote this short guide because we are increasingly receiving messages from you and our clients asking how to earn and how much money you can earn from renting an apartment in Spain.
We talk about this topic with people who have already bought properties and rent them to tourists in the coastal resorts of the Costa Blanca and Costa del Sol (examples from Tenerife soon).
Everyone unanimously agrees on the basic reasons why it is worth investing in Spanish property and even the order of answers often agrees:
reliably beautiful weather and over 320 days of sunshine a year, clean sea air, wonderful sea and top rated beaches in the Mediterranean, Spanish atmosphere, people from all over Europe, bars, pubs, restaurants In a word – Spanish life
attractive real estate purchase prices
the possibility of a good income on holiday and permanent rentals – a long season and lots of tourists who arrive after point 1
the potential for future property growth
These are the basic reasons why we buy in Spain. But everyone has their own personal reasons and experiences, and each investment is different. Small details that can make a big difference count.
The rest of the article presents some detailed information that may be valuable if you plan to buy an apartment in Spain for rent.
Reasons why we buy real estate in Spain
You buy in Spain, because the weather is beautiful, bright, but what exactly do you need an apartment on the Mediterranean Sea?
Do you want:
- buy a flat in Spain only for rent?
- Are you interested in buying an apartment in Spain for rent, but you want to live in it for part of the year?
- Or maybe you want to buy an apartment in Spain for rent now and in the future live in it or give it to children?
- if you buy for rent – do you want to sell the flat for a profit in the future?
People who invest in Spain pay attention to different aspects of the offer depending on their specific personal goals.
Here are some conclusions from talks with investors.
Buying an apartment in Spain only for rent
If you mainly want to earn from renting your apartment, you probably plan to put a rental offer on portals such as AirBNB or Booking.
Put yourself in the place of the person who is looking for a holiday home to rent in Spain. What will you pay attention to? Probably how far it is to the sea and beaches. Will you have a swimming pool to cool down after sunbathing. Sea views will also increase the value of your offer.
It is very good if your guests have at their disposal a swimming pool – private or available to residents of urbanization.
The distance to the sea and beaches is also important and influences the attractiveness of your rental offer.
Similarly, the attractiveness of your property rental offer will be influenced by the distance to all amenities such as restaurants, pubs, bars, commercial centers etc.
However, not all tourists need bars or restaurants at hand. Some prefer to prepare meals at home and spend the whole day on the beach. For example, some wealthy tourists who pay more to rent prefer to live far away from the hustle and bustle of pubs and restaurants. They prefer to be quiet and go to a restaurant with a rented car. Take it into consideration.
Distance from this type of facilities may be more important if you plan to sell the property in the future, live in Spain or transfer the property to children.
And one more thing. If you plan to rent an apartment and place an offer on the internet – be sure to take pictures of the rooms taken with a wide-angle lens. Such pictures better reflect the actual space and sell the rental offer better.
Buying an apartment in Spain for rent and for myself
Buying a flat in Spain for rent and for yourself Many people buy real estate in Spain in order to earn a rent for several years and in the future live under the Spanish sun.
If you also plan to live in Spain, you definitely want the greatest comfort of life. Then the distance from the sea, beaches and restaurants will not be the only factor determining the choice of offer.
Also pay attention to the area in terms of everyday life. Are public administration institutions, schools, a hospital, medical offices, and gyms nearby. What about parking the car?
What is the spatial development plan in the area? This is important not only for your comfort, but also for the attractiveness of the rental offer. It may turn out that from your balcony there was a sea view, but they built you a 3-storey apartment building in front of your nose and you can not see the sea anymore. It’s a big difference. Pay attention to the development plans.
Access to the property can also be crucial. In Spain, the infrastructure is well developed, but there is not a bus stop everywhere.
Finally, you want your investment to increase in value. So let’s pay attention to the condition of the building industry, architecture, and of course the purchase price.
If you are thinking about selling an apartment in the future, you should look around for bargains. Every now and then bargain offers appear at the market at very favorable prices. Some customer stories show that you can earn money almost immediately.
One way is to buy an apartment in Spain for renovation. After refreshing, you can sell for a much higher price, especially if the investor has good taste and will arrange the apartment nicely.
On the Spanish real estate market, you can still find bank acquisitions, which are often overpriced. Such property can be sold for profit almost immediately.
There are also times when the owner wants to sell the property and he wants to sell it quickly. Then usually the price of real estate is clearly underestimated, which is a tasty morsel for investors who will find such an opportunity.
The increase in the value of property in Spain can vary depending on many factors. Real estate bought in recent years gains in value up to 6-8% year on year.