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People either buy a property in Spain either for themselves to enjoy all year around, and many people are interested in owning a property that will provide them with an income, e.g. from letting, to cover the running costs and help with the mortgage payments.
Be Careful
Don’t get taken in by all the hype and forecasts. We can speak from experience. Yes, letting a home for a few weeks or months in the summer can more than recoup your running costs and pay for holidays. But there is a downside:
It can be difficult to make a living providing holiday accommodation in most areas, as the season is too short and there’s often too much competition. There is a lot of competition and the number of properties to let each year is rising all the time.
If you rent to make a profit, you must be aware that as you own a property within Spain, you must also pay taxes on it there. Rentals are not exempt from tax and you could end up paying up to 40% in taxes on all incomes received.
I would recommend just renting to family and friends and not to make a profit. You will not achieve 100% occupation, and more likely to rent for between 12 - 15 weeks a year.
Further Information - Property in Spain
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Information on buying a Home in Spain (Survival Books) |
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An excellent publication on Earning Money from your home in Spain |
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