- This topic has 32 replies, 12 voices, and was last updated 18 years, 1 month ago by
.
-
Posts
-
-
We’re one of the people who purchased in the Elvira area, and there is the possibility of our being able to transfer to another new apartment in the Benahavis area which already has the LFO in place. We have looked at a few apartments in the development and they are of comparable quality and size, however not being intimately familiar with Marbella, I’m not sure how the different localities compare.
Our Motivation for purchase was as a long term investment that would be mainly self financing from rental income, and permit personal use of approximately 2 weeks a year.
The question is how does Benahavis compare to Elvira in terms for rental desirability. The location itself looks good, have actually stayed there twice and we love it, however we are worried whether it is a rental lemon.
I would appreciate comments from those who are closely familiar with the Marbella rental market, who could opine on which are areas are rental hotspots and which ones should be avoided.
Also whilst investigating the rental issue, I was quite shocked to discover that the agent we are using are quoting occupancy rates of 12-18 weeks. When we buying 3 years ago the rates being quoted where in the 30-35 weeks, were we initially misled? What kind of occupancy levels are people currently experiencing, and our people managing to break even at these levels
Kind Regards
-
FOR PRUDANCE I WOULD NOT EXPECT RENTALS OUTSIDE JULY/AUGUST. ANY THING MORE TAKE IT AS A BONUS.
JULY/AUGUST THE TRAFFIC IS HORRENDUS AND PEOPLE PREFER TO RENT A PROPERTY WHICH IS WALKING DISTANCE TO THE BEACH MAXIMUM 10 MINUTES OF WALKING DISTANCE WHERE THEY CAN WALK TO THE PROPERTY FOR LUNCH AND A SIESTA.
THIS SPECIALLY AS THE BEACH BARS ARE NOW VERY EXPENSIVE AND FAMILIES COME HOME FOR LUNCH.
BENAHAVIS IS VERY NICE AND GREAT PLACE TO GO TO DINE ETC. BUT FAR FROM THE BEACH
-
FOR PRUDANCE I WOULD NOT EXPECT RENTALS OUTSIDE JULY/AUGUST. ANY THING MORE TAKE IT AS A BONUS.
JULY/AUGUST THE TRAFFIC IS HORRENDUS AND PEOPLE PREFER TO RENT A PROPERTY WHICH IS WALKING DISTANCE TO THE BEACH MAXIMUM 10 MINUTES OF WALKING DISTANCE WHERE THEY CAN WALK TO THE PROPERTY FOR LUNCH AND A SIESTA.
THIS SPECIALLY AS THE BEACH BARS ARE NOW VERY EXPENSIVE AND FAMILIES COME HOME FOR LUNCH.
BENAHAVIS IS VERY NICE AND GREAT PLACE TO GO TO DINE ETC. BUT FAR FROM THE BEACH
-
Shakeel,thanks for your comments, so are you saying that Elvira has a higher rental desirability than Benahavis? Interesting enough the agent had mentioned the 10 min walk to the beach as a requirement, however unless I’m mistaken, Santa Maria is not a 10 min walk to the beach either.
I find it surprising that people mention walking distance in Marbella, I’ve been there on quite a few occasions, and I personally don’t see how it is possible to get around without a car. The first time we went, we didn’t hire a car, and it was practically impossible to get anywhere, public transportation is non existence and the only saving gracing was that we were shacked up in a hotel in the centre of town. Also isn’t it the case that people like to sample different beaches during their stay? in which case having a car is an absolute necessity
Unless I’m mistaken as far as I’m aware none of the new developments are 10 mins walk from the beach. 10mins sprint yes, if you intend to put your life in your hands and attempt to cross the treacherous A7 or sky dive from your apartment!!!
We also have a Villa in Orlando, and it was the same criteria, 15mins from Disney which our villa fits in under 10 mins, however the reality is that during the peak season, the journey time is 45 mins plus, due to traffic. Unless you are living at the gates to Disney there is no way you can do the journey in 15mins during peak time.
Talking of Disney, the thing I find interesting is that there isn’t the Investor market for rental villas in Euro Disney Paris as you have in Orlando. Does anyone know why this is the case?
One final question, can people please advice on what rental occupancy rates they are currently managing to achieve
-
Shakeel,thanks for your comments, so are you saying that Elvira has a higher rental desirability than Benahavis? Interesting enough the agent had mentioned the 10 min walk to the beach as a requirement, however unless I’m mistaken, Santa Maria is not a 10 min walk to the beach either.
I find it surprising that people mention walking distance in Marbella, I’ve been there on quite a few occasions, and I personally don’t see how it is possible to get around without a car. The first time we went, we didn’t hire a car, and it was practically impossible to get anywhere, public transportation is non existence and the only saving gracing was that we were shacked up in a hotel in the centre of town. Also isn’t it the case that people like to sample different beaches during their stay? in which case having a car is an absolute necessity
Unless I’m mistaken as far as I’m aware none of the new developments are 10 mins walk from the beach. 10mins sprint yes, if you intend to put your life in your hands and attempt to cross the treacherous A7 or sky dive from your apartment!!!
We also have a Villa in Orlando, and it was the same criteria, 15mins from Disney which our villa fits in under 10 mins, however the reality is that during the peak season, the journey time is 45 mins plus, due to traffic. Unless you are living at the gates to Disney there is no way you can do the journey in 15mins during peak time.
Talking of Disney, the thing I find interesting is that there isn’t the Investor market for rental villas in Euro Disney Paris as you have in Orlando. Does anyone know why this is the case?
One final question, can people please advice on what rental occupancy rates they are currently managing to achieve
-
If you use the search facility above for “rental” you will find some previous posts on this topic, eg:
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=1252
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=1036
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=846
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=864The general consensus of opinion seems to be that the rental market is saturated and, as Shakeel says, anything you can achieve outside the height of summer is a bonus. If you have to rely on rental income to pay for the property, maybe best to think again.
You said, “Also whilst investigating the rental issue, I was quite shocked to discover that the agent we are using are quoting occupancy rates of 12-18 weeks. When we buying 3 years ago the rates being quoted where in the 30-35 weeks, were we initially misled?”
The answer is, probably, yes.
-
If you use the search facility above for “rental” you will find some previous posts on this topic, eg:
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=1252
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=1036
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=846
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=864The general consensus of opinion seems to be that the rental market is saturated and, as Shakeel says, anything you can achieve outside the height of summer is a bonus. If you have to rely on rental income to pay for the property, maybe best to think again.
You said, “Also whilst investigating the rental issue, I was quite shocked to discover that the agent we are using are quoting occupancy rates of 12-18 weeks. When we buying 3 years ago the rates being quoted where in the 30-35 weeks, were we initially misled?”
The answer is, probably, yes.
-
According to people I know 12 weeks would be barely achievable. I think Elviria is a better option, its popular with Spanish and Irish too. Its nearer the airport and all those horrid traffice jams around the coastal access to Benahavis don’t exist. Having stated Elviria its not easy to rent out around there either.
The agents will tell you anything to get you to sign up with them as they know they will at least get a little income. One friend actually owed the agent money at the end of the year ❗
-
According to people I know 12 weeks would be barely achievable. I think Elviria is a better option, its popular with Spanish and Irish too. Its nearer the airport and all those horrid traffice jams around the coastal access to Benahavis don’t exist. Having stated Elviria its not easy to rent out around there either.
The agents will tell you anything to get you to sign up with them as they know they will at least get a little income. One friend actually owed the agent money at the end of the year ❗
-
Hi sheggsl
We have a place in Elvira and i guess your apartment (without an LFO although not many have in that area :-)) is at Los Lagos. Walking from Los Lagos to the beach would be a bind as the hill down to the Santa Maria bridge is steep and in total about a 30 minute walk. Having said that you have a golf course on the door step and the commercial centre is about 15mins away. Many of the rental owners in our development seem to rent successfully judging by the pain the renters give the community as a whole (non observance of community rules etc.) We don’t rent ours so i can only give you my opinion. I am also told that long term rent is the way to go, this info was from a lady in the development who key holds for many owners and finds long term renters for them, and as i said they do seem to be successfully renting. The clue here is to find someone locally who you can trust to look after your apartment i guess.
We love the area but that’s personal and i guess not much help really, although any school holiday’s the development is full.
Two web sites you may want to look at are http://www.laymyhat.com/ which is a site dedicated to people who own and rent apartments and http://www.madforspain.com who is a renter on our development and is always busy.
Hope this helps
Paul
-
Hi sheggsl
We have a place in Elvira and i guess your apartment (without an LFO although not many have in that area :-)) is at Los Lagos. Walking from Los Lagos to the beach would be a bind as the hill down to the Santa Maria bridge is steep and in total about a 30 minute walk. Having said that you have a golf course on the door step and the commercial centre is about 15mins away. Many of the rental owners in our development seem to rent successfully judging by the pain the renters give the community as a whole (non observance of community rules etc.) We don’t rent ours so i can only give you my opinion. I am also told that long term rent is the way to go, this info was from a lady in the development who key holds for many owners and finds long term renters for them, and as i said they do seem to be successfully renting. The clue here is to find someone locally who you can trust to look after your apartment i guess.
We love the area but that’s personal and i guess not much help really, although any school holiday’s the development is full.
Two web sites you may want to look at are http://www.laymyhat.com/ which is a site dedicated to people who own and rent apartments and http://www.madforspain.com who is a renter on our development and is always busy.
Hope this helps
Paul
-
Although this thread is not of a legal nature I cannot resist the urge to post.
You’ll be lucky if you can rent for 8 weeks. Very lucky for 12 weeks and if you manage more than that, please PM me the development because I’ll buy there units straight away.
If you are relying on rental income to pay off the monthly mortgage quota you are in for a hard ride.
Benahavis is a really nice place and used to be quite too. Now its a bit far too touristic for my liking. Elviria is the eastsider area of Marbella (which is the least luxurious part of Marbella, although this is changing fast within these last years).
You certainly need a car for both Benahavis and Elviria to get to Marbella town. Unless you’ve bought frontline in Elviria you’ll need car to get to the beach, no big deal really. Problem with Elviria area the unending illegal developments there.
Not the two best places to buy-to-rent all year round. I’d look somewhere else. Because there certainly are prime locations and developments within Marbella which have an excellent rental potential almost all year round, but they tend to be expensive and are already sold off in consolidated prestigious areas (I’m talking of the Golden Mile and whereabouts). I’d play safe buying in prime location -if you can afford it- unless of course you can find a really good bargain somewhere else, such as in Elviria area.
I’d vote for Benahavis (plus you have LFO which is a relief), the problem is that within the next 4 years or more there’s a tunnel that’s going to be built in San Pedro and that’s going to create traffic jams I suppose. Not good for rental potential.
The experts in rentals are the Estate Agents.
-
Although this thread is not of a legal nature I cannot resist the urge to post.
You’ll be lucky if you can rent for 8 weeks. Very lucky for 12 weeks and if you manage more than that, please PM me the development because I’ll buy there units straight away.
If you are relying on rental income to pay off the monthly mortgage quota you are in for a hard ride.
Benahavis is a really nice place and used to be quite too. Now its a bit far too touristic for my liking. Elviria is the eastsider area of Marbella (which is the least luxurious part of Marbella, although this is changing fast within these last years).
You certainly need a car for both Benahavis and Elviria to get to Marbella town. Unless you’ve bought frontline in Elviria you’ll need car to get to the beach, no big deal really. Problem with Elviria area the unending illegal developments there.
Not the two best places to buy-to-rent all year round. I’d look somewhere else. Because there certainly are prime locations and developments within Marbella which have an excellent rental potential almost all year round, but they tend to be expensive and are already sold off in consolidated prestigious areas (I’m talking of the Golden Mile and whereabouts). I’d play safe buying in prime location -if you can afford it- unless of course you can find a really good bargain somewhere else, such as in Elviria area.
I’d vote for Benahavis (plus you have LFO which is a relief), the problem is that within the next 4 years or more there’s a tunnel that’s going to be built in San Pedro and that’s going to create traffic jams I suppose. Not good for rental potential.
The experts in rentals are the Estate Agents.
-
-
-
-
-
-
-
-
-
Well – I might as well join in on this…. 😆
Sheggsl – We ‘bought’ in Elviria, then when our problems hit the fan, were offered an appartment at their new development in Benahavis (with a nice large ‘top up’ to pay of course).
We looked into everything when making our decision, and decided eventually to just ‘close the page’, basically because of the way the developer behaved (lied, tried to cheat, made empty promises etc.) and decided we just couldn’t trust them.
We also heard rumours that the Town Hall in Benahavis may in the future have similar problems as those in Marbella – no idea if true, but just weren’t in the mood to take another gamble.Many people on the forum know that Claire and myself were successful in court this Summer in obtaining our money back (with the paltry legal interest that doesn’t ‘compensate’ even for differences in the exchange rate) but at least we are home and dry.
I wish all those, who are still in the position we were in, a successful and just conclusion to their claim for a return on their monies.
A big thank you to Drakan, Mariadecastro and Cesar for their patience and input on the forum – all the free legal advice ‘on tap’ has certainly in our case been absolutely invaluable.
Best wishes to you all, a joyous Christmas, and may 2007 bring you peace and good health.
And to all the crooked developers/agents/lawyers sitting on other people’s money when they have no right to –
may you all get your just deserts! 😈Barbara
-
Well – I might as well join in on this…. 😆
Sheggsl – We ‘bought’ in Elviria, then when our problems hit the fan, were offered an appartment at their new development in Benahavis (with a nice large ‘top up’ to pay of course).
We looked into everything when making our decision, and decided eventually to just ‘close the page’, basically because of the way the developer behaved (lied, tried to cheat, made empty promises etc.) and decided we just couldn’t trust them.
We also heard rumours that the Town Hall in Benahavis may in the future have similar problems as those in Marbella – no idea if true, but just weren’t in the mood to take another gamble.Many people on the forum know that Claire and myself were successful in court this Summer in obtaining our money back (with the paltry legal interest that doesn’t ‘compensate’ even for differences in the exchange rate) but at least we are home and dry.
I wish all those, who are still in the position we were in, a successful and just conclusion to their claim for a return on their monies.
A big thank you to Drakan, Mariadecastro and Cesar for their patience and input on the forum – all the free legal advice ‘on tap’ has certainly in our case been absolutely invaluable.
Best wishes to you all, a joyous Christmas, and may 2007 bring you peace and good health.
And to all the crooked developers/agents/lawyers sitting on other people’s money when they have no right to –
may you all get your just deserts! 😈Barbara
-
-
-
Being lazy right now,… no exhausted… I echo Barbara’s sentiments too.
I thank all of you who have supported us in our fight against the corruption that we have encountered. For my husband & I the advice ,support and friendship we have received here has been invaluable.We wish each and everyone of you a Joyful Christmas and a Very Happy New Year.
Best Wishes,
Claire.
-
Being lazy right now,… no exhausted… I echo Barbara’s sentiments too.
I thank all of you who have supported us in our fight against the corruption that we have encountered. For my husband & I the advice ,support and friendship we have received here has been invaluable.We wish each and everyone of you a Joyful Christmas and a Very Happy New Year.
Best Wishes,
Claire.
-
-
-
……..just like to say a huge thankyou to everyone who has helped us so far in our fight for justice against the low life. Thanks to your very kind help on this site we made a last minute life changing decision (deciding to sue for breach of contract, rather than being conned in to completing with no LFO apartment wrong size etc).
So, good health and good luck to you and yours for xmas and the new year. To those of you in a similar position to us, i say ‘keep your chin up and keep on fighting for what we know is right’. Let’s hope that by us making a stand that less people will have to go what we have gone/going through.
-
……..just like to say a huge thankyou to everyone who has helped us so far in our fight for justice against the low life. Thanks to your very kind help on this site we made a last minute life changing decision (deciding to sue for breach of contract, rather than being conned in to completing with no LFO apartment wrong size etc).
So, good health and good luck to you and yours for xmas and the new year. To those of you in a similar position to us, i say ‘keep your chin up and keep on fighting for what we know is right’. Let’s hope that by us making a stand that less people will have to go what we have gone/going through.
-
SHEGGLS, treat every week you manage to let your property as a bonus. I have just sold my 4 bed detached villa in Ayamonte in the Costa De La Luz because I could not let it. I tried for a year on a web site plus I had my own web page plus it was in the hands of an agent in Ayamonte and even when I dropped the rent to 500 euros a month I still had no takers. So I had to bite the bullet and sell for 7000 euros less than I paid for it but at least it is a nightmare off my hands. I have since bought a 2 bed house in the Westcountry where I live which I am letting for £500 a month on a long term rental agreement.
When I bought our place in Spain I was reliably informed by the “superior” agent in Bristol who sold us the property we would get 35 weeks rent a year. Do not believe everything they tell you. -
SHEGGLS, treat every week you manage to let your property as a bonus. I have just sold my 4 bed detached villa in Ayamonte in the Costa De La Luz because I could not let it. I tried for a year on a web site plus I had my own web page plus it was in the hands of an agent in Ayamonte and even when I dropped the rent to 500 euros a month I still had no takers. So I had to bite the bullet and sell for 7000 euros less than I paid for it but at least it is a nightmare off my hands. I have since bought a 2 bed house in the Westcountry where I live which I am letting for £500 a month on a long term rental agreement.
When I bought our place in Spain I was reliably informed by the “superior” agent in Bristol who sold us the property we would get 35 weeks rent a year. Do not believe everything they tell you.
-
- The forum ‘Spanish Real Estate Chatter’ is closed to new topics and replies.
