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One of the most common criteria for overseas buyers of Spanish property is the need for an open (or uncovered) terrace, ideally facing south-west……to soak up as much sun as possible….until as late as possibly in the day – phew, makes me hot just thinking about it!
Of course, it’s completely understandable in one sense – one of the main reasons to purchase a property in Spain for most of these buyers is to escape the harsh British and Northern European climate. But do these buyers really know what they are letting themselves in for?
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There are many pros and cons to both country and city living in Spain.
If what you want is ‘Britain in the Sun’ then a big town like Torrevieja or Fuengirola would be ideal. English is spoken nearly everywhere, there are excellent facilities, there are attractive marinas and just about every shop and restaurant you could wish for. However it does come at a price, you have to pay for all of this convenience. Also there is the traffic, noise, overbuilding and unfortunately a fair amount of crime as well. When I visited this area I couldn’t help thinking “Is this ‘Real Spain’” or an enclave created for the Brits abroad.
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It´s safe to assume that most prospective holiday-makers search the internet to book one or more of the following – flights, accommodation and car hire. Therefore it makes a lot of sense to advertise your rental property online, in order to appeal to these potential tenants.
The online holiday rental market is highly competitive, and there are plenty of websites that offer paid listings for inclusion on their site, normally for an annual subscription fee. This fee varies, but for inclusion on the larger, popular websites, expect to pay in the region of £120 - £200 per year.
There are several advantages to advertising your rental property online:
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There are many owners of Spanish property who are keen to generate a rental income from their holiday home in the sun.
With the threat of recession, and the shadow of the credit crunch over all of us, even those owners who had never intended to rent out their properties are seeking an income in order to assist with servicing rising mortgage repayments.
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Now may be a good time to invest in Spanish property, but my advice would be to tread with caution, and to be well researched.
The market in Spain has taken a hammering in recent times, and although not every vendor is desperate to sell, some of them are. Remember that a large proportion of these properties were purchased as 2nd homes, meaning that they were bought as a luxury item. So as the economic climate for owners becomes more gloomy, disposable incomes begin to shrink and people face job losses and spiraling debt, it is these luxury purchases that are often the first to be cashed in.
