What to Know About Rental Property Market in Costa Blanca?

Costa Blanca is a privileged and rewarding place with an active rental market and average occupancy rates. The rental season usually begins from Easter and continues till the end of October. The demand for rental properties may fluctuate, such as during the high season, you can expect to earn more steady income than low season.

The rent prices may vary depending on the amenities and kind of property you own. If your home has several bedrooms and bathrooms, you can rent it out to many tenants at once. The Spanish real estate market seems to be recovering after the COVID-19 pandemic due to domestic demand of locals and holiday homes by European citizens.

Would you wish to rent your apartment, holiday home, or second home to travellers in Costa Blanca? Read on to understand what you should know about the Spanish rental property market.

WHAT KIND OF ACCOMMODATION WORKS BEST IN COSTA BLANCA?

The prices of rent can see a significant rise with the facilities you’re offering, such as extra square metres, bedrooms, bathrooms, terraces, and so on. If you have more bedroom spaces, you can occupy a large number of tenants at once to earn a better rental income.

It is ideal to rent out your vacant home, apartment, or holiday home to locals and travellers in Costa Blanca for top-notch property management and cleaning while earning a good rental income. Summer, school holidays, and winter sports period is the best time to rent out your property.

IS IT GOOD TO RENT PROPERTY IN SPAIN?

Rental yields have always been fascinating as thousands of tourists visiting Spain each year are using private accommodation options, according to the Ministry of Tourism. Even many homeowners are using their family and friends’ homes to accommodate plenty of holidaymakers and this trend is tremendously increasing.

Therefore, buying a holiday home comes with various advantages alongside an excellent source of income, especially for those owning a vacant apartment or aware of holiday rental scenarios.

GROSS RENTAL YIELDS IN SPAIN ARE BACK TO NORMAL

Gross rental yields on apartments are slightly higher, including tax benefits, vacancy costs, and other maintenance needs. Small apartments are likely to need more maintenance, however, a yield is satisfactory enough. In fact, a special 3% annual tax is levied on the cadastral value of property owned by non-residents. Whereas resident individuals are liable to pay tax on their income and assets at progressive rates.

Spain’s rental market is highly pro-tenant, wherein both tenant and landlord are given equal liberty to decide the rent and due date of payment.

To know more about the rental property market in Costa Blanca, feel free to contact our experts to gain a thorough understanding and enjoy a hassle-free process.