Positive Signs for the Spanish Rental Market

Positive Signs for the Spanish Rental Market
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By Press Release - Apr 14, 2009 - 5:41 PM
Despite the slowdown in property sales and the drop in house prices, the rental market in Spain is actually booming

holidayrentalontheweb

There are still thousands of people moving to Spain each year in search of a better lifestyle and looking for accommodation. As decreases in house prices are expected to continue, people are cautious about buying and are deciding to rent long term and buy when the market hits its low. This means that there is an increased demand for long term property rentals.

Nearly 13 million people flew into Malaga during 2008 and planners predict this will continue to rise. No matter where the next “hot” holiday destination is, due to large availabilities of low cost flights, short journey times from the UK and the great year round weather, Spain will continue to be a desirable holiday destination. As holiday makers are tightening their belts, more of them are now choosing the cheaper option of self catering accommodation. This means that although hotels have seen a sharp drop in occupancy, rental accommodation is in more demand than ever in the peak holiday seasons.

Property rental experts HolidayRentalontheWeb.com have seen a huge increase in rentals over the last few years and believe this is set to continue. Their website experienced a 25% increase in visitors in February compared to January 2009. The number of holiday weeks booked in 2008 was 302% higher than holiday weeks booked in 2007 and the number of holiday weeks booked this year to date (January and February 2009) are already 242% up on holiday weeks booked during the same period last year. They are estimating that their bookings in 2009 will be double that of 2008 and are very positive about the future for holiday rental accommodation.

HolidayRentalontheWeb.com’s founder, Tony Sidebottom, commented; “We would urge any owner of a Spanish property not to despair about the state of the property market. Property is a long term investment and it will recover its value after this slump is over. Don’t rush into selling your property, look into renting it out instead. Renting short or long term will offer you valuable income in these difficult times and safeguard your investment. It isn’t easy as there is a lot of competition out there, but if your property is in good condition and you work with a reputable agent and property management firm you will be able to make money from your Spanish property without a lot of stress or hassle.”

Renting out your property as holiday accommodation can earn you between 500 and 800 Euros per week for a 2 bed property, depending on the location and the standard of decoration. Alternatively there is also demand for long term rentals which can earn a property owner between 700 and 900 Euros per month on a 2 bed property, which can be a great source of regular income in the longer term.

HomeCareontheWeb, the property management division of HolidayRentalontheWeb, have produced a free guide to making the most of your rental property called ‘Secrets of Successful Rentals’.

Visit www.homecareontheweb.com and click on ‘Free Insider Guides’ to download it.
To view long-term and holiday rental properties, visit www.holidayrentalontheweb.com

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