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There’s bad news wherever you look when it comes to the state of the Spanish economy, yet according to Prime Minister Mariano Rajoy things are moving in the right direction and the government’s policies are having an effect and decreasing deficit and lowering inflation.
Let’s hope his assertions are true! It has been reported that industrial production is also up, leading to hopes that the rest of the economy will follow suit in time and create much needed employment. Certainly here on the Costa del Sol it seems like summer is in full swing and restaurants, bars and shops are benefiting from the influx of tourists. Marbella is in the middle of its annual “feria” or festival to celebrate its patron saint and right now it doesn’t feel like we’re in the depths of a recession when you’re out enjoying yourself.
It is true that the Costa del Sol is a bit of a special case and so it’s difficult to evaluate in the national averages. This area’s property market has been supported by foreign buyers who are increasingly being attracted by lower prices and good buy-to-let opportunities.
Income can be made throughout the year depending on the returns you’re looking for. Long term rentals have been really popular whilst the property market has been on the downward trend, as people are reluctant to buy and it’s a steady form of income. Alternatively, holiday rentals produce high earning potential during the peak periods and leave owners able to enjoy their property the rest of the year.
Either way, it’s highly recommended to have trusted help on the ground to look after your property and make sure it is well-maintained, secure, clean and ready for the arrival of tenants. Property management companies on the Costa del Sol can be your eyes and ears and even be the point of contact with long term tenants, removing the worry!
We need more villas to rent during the peak seasons and more long term rental properties in general for our clients and so we can both look after your property and rent it out for you. For more information please get in touch, if you become a client before October we’ll even enter you into our 10 year anniversary prize draw to win an i-Pad and free Costa del Sol property management.