- This topic has 17 replies, 13 voices, and was last updated 14 years, 8 months ago by
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As ever, advice depends on your budget, and the kind of market you hope to attract. Factors you might want to consider eg the availability and quality of things like beaches, water sports, golf courses, entertainment, restaurants, shops, towns, airport links, public transport etc etc etc. This information is often available online.
You’ll be using the property a lot yourself, so assuming you’ll be looking for an area and property that suits you first and foremost. The area you’re already familiar with, Denia and Javea, is in the northern Costa Blanca betwixt Valencia and Alicante airports. There are plenty of villas for rent in that area, with relatively high rents, so lots of competition, as there is throughout the Costas. No doubt you’re aware of that, so good marketing of your property is key, and that costs.
An apartment is probably ‘safer’ to buy regards initial and ongoing costs, but again, there are literally thousands available for rent throughout the Spanish costas so competition is fierce. Be realistic in your rental expectations, it’s tough. Good luck.. 😀
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Given that you are planning to spend your winters in Spain I´d suggest you consider going a lot further South, to the CDS. The Costa Brava can get quite cold and wet in winter. The CDS is usually much sunnier and warmer.
The villa/apartment questions is very much down to you. There are pros and cons for both. Villas are generally quieter (fewer neigbours) and have lower community fees. Apartments require less upkeep and can be more secure.
As far as an investment goes, forget it. The Spanish market is falling, as are rental yields, and looks set to do so for some time yet. By all means purchase for lifestyle reasons but you will almost certainly lose money at present.
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@aikorosal wrote:
Hi
I am considering buying a property in Spain. We would rent it out in the Summer and stay in it off season, I really only know Costa Brava area, around Denia & Javea.
Is this a good area to buy, what is the safest bet a small villa or an apartment?
Your Thoughts Please
Costa Brava is around Barcelona-Girona.
Denia & Javea are on Costa Blanca.
MOney should be better invested in other things now.
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If you want to buy in Spain purely to spend Winters there and can afford to do so without depending on any Summer rental income, fine.
If not, don’t do it.
In the current market with so many rentals available, the golden days for this kind of ‘ideal situation’ are over.If you are dependant on rental income for this to work, as an alternative suggestion why not see how your calculations go based on if you put the intended purchase money in a fixed-term interest account. The interest should go well towards the approx. 3000 euros it would cost to rent for six months. Bear in mind also that owning a second property costs money to maintain.
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Hiya
We have a beautiful villa in Calpe for sale as i have relocated to Vietnam.
I have owned it for 5 years, its been a rental business for 4 years, tax paid and with account showing annual income averaging £22-30k per year. It already has bookings for 2010 totalling £17k.
A good website and details of who we advertise with included. Booked every year constantly from April-November weekly rates £600 – £1700.
Recession has only helped bookings as more familie sharing hols
The Villa itself consists of 3 self contained modernised apartments each with their own entrance.
5 bedrooms
3 lounges
3 kitchens
3 bathrooms
roof terrace
private pool and double garages200m to the sea, beautiful unobstructed sea and penon views.
If you want more info end me a message.
http://villa-for-sale-in-calpe.moonfruit.com/
Asking €420k.
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Nice spam there saigoned 🙄 At least the price made me laugh 😀
Anyway, short and sweet to the OP. Don’t do it!
There is loads of rental property here (as many who cannot sell are trying to rent out the millstone), and occupancy rates just aren’t high enough to make it a viable deal.
Spain just isn’t a suitable place for property investment these days (and hasn’t been for ages).
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Shakeel goodstitch,
Your £1000.00 will be protected by a bank gaurantee
And to reassure you that your money is safe I am a property agent and my partner is an Abogado.So put your money where it is safe and that it will produce a generous return based on our experience in the property rental business.
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we rent every year around the area near denia morriara,there are lots of villas to rent but the nice ones are rented out well inadvnce.The one i stayed in this year was in baladra between calpe and morriara.
On our return late in august we decided that it was an ideal location for us and would return there again so at the end of september contacted the owner to be told it was booked another i had previously rented on the cumbre de sol was also already booked.I would say this is a good area to buy if you wish to rent out in the summer,but prices are falling and what is 275k at the momment could be 240k or less in a year or so and the pound might even rally abit by then so i would say hold on to your cash for awhile. -
Search my postings and you will see what we achieve.
Basically, after spanish tax and all expenses we make enough for travelling to and parking at the UK airports, 4 or 5 return flights over, car hire for 100 days, and 500 to 1,000 quid toward meals and drinks. In other words it pays for itself and pays for us to get over there for 4 months a year. Much better investment than the uk stock market where i’ve lost about 15% of my capital in the last ten years.
A word of warning. Do not price too high. We are successful because we fill the place at reasonable rates. Others overcharge and make nada. Last year was our best ever as i guess people traded down from hotels to apartments at half the price.
GO FOR IT!
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If you are going for Denia or Javea then there are some bargains to be had if you look hard enough. A Lot of Germans are selling up to go back to Germany (they bought 15 years or so ago and now want to spend their final days n Germany where they have no language problems)
Result is that they have realistic price expectations and you can buy a reasonable villa between 175K and 250K – which 2 years ago would have been double that.
Javea is the same – a lot of people selling up to go back to UK as their pensions just dont go that far any more.
However what I would say is that here in the Costa Blanca it can get very cold – it dropped down to minus 2 a few weeks ago, so make sure you buy a house with central heating at the very least. You will be glad you did.
As for rentals – depends on the property you buy but there are a number of villa rental companies who will take your property off you for 12 – 14 weeks of summer and guarantee you a rate. It needs to be an excellent quality villa, with pool and high standard. I have one friend with a villa in Javea who rents this way and obtains €20K for the period 15th June – 15th September – and they ensure everything is returned in tip top condition (they even paid for a repair to the pool that one of the renters had damaged and paid to have the garden re landscaped when another party did a lot of damage due to dogs)
Anyway good luck whatever you decide but I reiterate what others have said – dont buy to rent out – rental should be an additional bonus – if it is not then stay away from rentals.
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