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Is buy-to-let worth doing in Spain? The holiday residential market, particularly along the costas, is seasonal in Spain in that tourists come to Spain during the holiday season of the months from May to August, which means that there will a long void period of many months during the September to April months when a buy-to-let property will remain vacant. The only exception to this are the Canary islands were it is warm all the year around and tourists come all year round. Is buy-to-let really a viable proposition given the seasonal nature of the residential market on the Spanish mainland and where are the best places to do buy-to-let? Is buy-to-let even worthwhile in the Canary islands and which canary island is best for buy-to-let and where specifically on the island?
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if you have a villa with a pool in a good area you can ask £750 for a 2 bed villa a week so just for the 6 week summer school holidays you can recieve a nice little income £4500 then you can do a winter let to an elderly couple trying to escape the harsh uk winters and maybe a couple of golfing lets in around march/april but the latter 2 can not be relied on where the summer can so for an investment of say £300,000 to buy such a place the returns are not great then of course you have cleaners pool maintanance and general up keep and tax to pay on the income so i’d say NO
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Dartboy, I agree with your conclusion. One thing you have to consider that it is not always possible to rent all the summer weeks.
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Where my apartment is- overlooking a golf course I find that it rents just as well in the winter months, I guess the golfers prefer the slightly colder weather!!!
There have also been a few snowbirds from Scandanavia taking it out for all of January and February
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Golfers, prefer Hotels as all & sundry is provided, besides they get great deals at hotels during the off season.
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@shakeel wrote:
Dartboy, I agree with your conclusion. One thing you have to consider that it is not always possible to rent all the summer weeks.
i tend to stay in morraira when i go and if you have a villa with pool in a good position and it doesn’t rent out for all 6 weeks in the summer i would be amazed or shocked at how much was been asked for the rent.villas on out of town urbs or rural locations my be a bit more difficult to rent but with good pricing and presentation in this area should still be a good bet to get all 6 weeks
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@dartboy wrote:
if you have a villa with a pool in a good area you can ask £750 for a 2 bed villa a week so just for the 6 week summer school holidays you can recieve a nice little income £4500 then you can do a winter let to an elderly couple trying to escape the harsh uk winters and maybe a couple of golfing lets in around march/april but the latter 2 can not be relied on where the summer can so for an investment of say £300,000 to buy such a place the returns are not great then of course you have cleaners pool maintanance and general up keep and tax to pay on the income so i’d say NO
And don’t forget the 30% cut for the agent (should you choose to use one)
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Not to mention that if you use a Spanish agent. The chances are that you will not see any rent as they will pocket the rent & blame the market condition.
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My Daughter was scammed by a rental agent. She did get the money eventually when I turned the screw 😈 He pocketed a 1000 euro pw for 5 weeks and never put a cent in her bank account as promised.
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Not much participation for the 16 thread starter is there..something fishy
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fully booked all of november at present , last year I had a booking from canada for december through february, my apartment is good value at 175 a week though at these times, probably snowbirds (older couples)
Im lucky to have my apartment managed by an onsite resident whom I can trust, a private individual who benefits from commission and cleaning fees etc
win win really
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