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Great news for anyone involved with the Spanish tourism industry came out from the UN World Tourism Organization last month. It revealed that international tourist arrivals grew by 7% in 2017 and that they expected it to grow by a further 4 or 5% this year. If these predictions are proved correct, Spain will overtake the US as the second most popular tourist destination and bring in even more income for the people working in tourism.
For property owners looking to generate rental income from their properties, this tourist growth will obviously lead to more bookings, especially as experts are predicting that rental homes are going to be more in demand this year. There is a travel trend for people who want to experience the destination like a local and therefore are choosing holiday rentals rather than hotels. This, combined with limited hotel beds during peak season, leaves us in no doubt that 2018 will be a great year for people with short term rental properties. Find out how we can help you generate more rental income
Another thing that is on the up is interest in moving to Spain, which is fuelling demand for long-term rental properties. One surprising side effect of the Brexit uncertainty is that more retired people are trying to make the move now, as they are concerned that once Brexit has been implemented it may be hard. Companies who help people to move abroad within Europe have reported big increases in enquiries and people moving, and expect this to continue this year while it is still easy to relocate.
Companies who offer long-term rentals on the Costa del Sol like our company HomeRentalontheWeb report growing demand and limited supply and are looking for quality properties to add to their books.
We are struggling to find the right long-term rental properties in popular areas and the lack of properties is definitely pushing prices up. Long-term rental is a very good option for anyone who has a property in the Costa del Sol which they rarely use, as it is stable and a great way to secure rental income all year round. In many cases, you can earn more with long-term rentals when you look at the whole year, as the income is steady. We’d definitely recommend that owners consider the option of renting long-term, as it will be very easy for us to find them tenants.