Buying a property in Spain to let? Do your research

If you’re buying a property in
Spain with a view to renting it out, it pays to do your research. That’s the
view of a leading Spanish property expert who has highlighted recent research
from the Daily Mail showing the vast
differences in the average rental income generated by homes in different
regions of Spain.

Keep reading to find out more
about which areas of Spain generate the highest rental income.

Costa Brava property generates the best rental income

The Daily Mail recently undertook research to compare the average
weekly rental rates for three bedroom properties in popular Spanish
destinations. The rates take into account all times of year and all types of
property and reveal which areas of Spain perform better than others.

It found that renting a property
in the Balearic Islands generated significantly higher income than homes in
other popular tourist destinations. The average weekly rental rate in Majorca
was £956 while in Minorca it was £945. The average rate was even higher
(£1,062) in northern Majorca’s upmarket Pollensa area.

This is compared to £626 on the
Costa Blanca, £659 on the Costa del Sol and £743 in Lanzarote.

These figures show the important
of doing your research when you are considering buying a rental property in
Spain, With rents in some areas a third higher than in others, picking the right spot
for your property investment can make a significant difference to your income.

The research also found that the
Costa Brava generated significantly higher rents than other popular seaside
destinations. At £968, this region generated the highest rental income, in part
due to its location just 90 minutes south of the popular city of Barcelona.

Island destinations also
generate good rental income, While the supply of property may be more limited, the Balearics and
the Canaries are popular tourist destinations and can help you to generate a
good return on your investment.

Author :

Nick
Marr