ExecutiveChronicles — Purchasing property in Spain to rent out | When planning to buy real estate in one of the Spanish resorts, it is important to take into account not only the cost of the purchase itself but also its further maintenance – taxation, cost of utilities, maintenance. Most entrepreneurial people try to recoup their expenses by renting out their property. This is especially true for those owners of housing who use it only a few weeks a year. Specialists from Spain-Real.Estate can help you find the housing unit built by the Spain developers, that you can use for your own living and also for sublet.
For many, buying followed by renting has long been a good business in Spain. According to statistics, about 26% of foreigners buy real estate here, hoping to make a profit from renting it out. Use it yourself for 1 month a year and rent out for 11 months – why not? Moreover, the owners have several benefits and tax reductions for the housing they rent out.
Who will you sublet to
Defining your customer is the first thing you should do before purchasing. It is necessary to determine the target audience of vacationers in Spain, for which the rental housing will be intended:
- young couples – they like affordable prices, do not have special requirements for living, but are very demanding on infrastructure and possible entertainment.
- elderly childless couples value quality, silence, environmental friendliness. But here you can offer real estate located in the distance.
- a family with children or several families with children – safe housing (pay attention to stairs, courtyard, house improvement), walking distance to the sea and supermarkets
- families in which there are people with disabilities – safe and accessible housing, infrastructure
Decide who you can offer your property to. Do you or your loved ones work with newlyweds, retirees, families with children? Then it is advisable to use this opportunity and take it into account when choosing an apartment or house in Spain. Also, evaluate people’s requests based on your budget and their budget.
Location of the property
When choosing a house or apartment in Spain, think about whether you yourself would like to stay here. Also, consider the target group of future tenants of your property. So, families with children need the house to be in a safe area, have a supermarket, cafe, beach, playgrounds, parks nearby.
Childless young couples desire to have several bars and entertainment venues, and for older couples, the main thing is calmness and comfort.
Next, you should pay attention to the size of the acquired housing. Small apartments are suitable for childless couples, and villas for large families or groups with children. Here, the number of bedrooms, bathrooms, and toilets, the availability of a workspace and a kitchen, etc., matters.
The apartment should be equipped with:
- mosquito nets,
- air conditioning,
- cable TV,
- a washing machine,
- a dishwasher,
- some kitchen utilities,
It is also vital to have Internet access now.
In an apartment for the elderly, it is desirable to have cozy sofas, and for businessmen – a working corner. Families with small children, require special chairs, baby cots.
Property in Spain
As practice shows, the maintenance of a house or apartment in Spain can not only be recouped when renting out but also profit from it. Recent data show that the profitability of housing in Catalonia has become one of the most significant in Europe in recent years – and ranges from 4.8 to 7%. Visit Spain-Real.Estate website and check out some of the property options there.
Photo by Mikhail Nilov: https://www.pexels.com/photo/spanish-national-flag-against-cityscape