Marbella an especially lucrative place to rent out a property this summer
Potential investors in Marbella property who are considering doing so primarily so that they can reap the rewards of renting out their new villa, apartment or townhouse may be interested in learning more about just how great those rewards could be during the warmer months.
As reported by The Olive Press, Marbella is set to be one of the most expensive parts of Spain for summer holiday renters this year. The expat newspaper cited a report claiming that prices were anticipated to top €1,100 a week, with holiday rentals in Spain’s main beach areas for this summer having increased by almost 10% over the past year.
Those wishing to enjoy a week in a rental property on the Spanish coast this season can expect to be charged €729 on average, which represents a €65 rise on last year and a 30% increase on 2014’s figure.
The Sotogrande, Ibiza, Salou, Sitges and San Sebastian areas are all also tipped by the report to record more than €1,100 per week for their holiday rentals this summer. It means that high net worth individuals who intend to become landlords of their Spanish beachside property could hardly be in a more advantageous position as the national market continues to resurge.
If you are looking to buy in Marbella, the time to move is now
However, those hoping to catch the luxury Marbella property market on a steep upward rise are also urged to bear in mind another recent report that has placed it as among the areas of Spain to have seen the greatest increases in its property prices in recent times.
More specifically, the report – also in The Olive Press – said that Marbella property values in the first quarter of 2017 were a whopping 11.3% higher than they had been in the same period a year before. The statistics are sourced from valuation company Tinsa and show that the Costa del Sol has been playing a leading role in the country’s property market recovery, with seafront properties in both Marbella itself and the nearby Estepona area faring especially well.
Nor is Brexit deterring Britons contemplating Spanish property
Another story that may raise the eyebrows of some Marbella property market observers is the relatively low influence that the UK’s impending departure from the European Union is having on Britons’ plans to buy a home abroad. The specialist legal firm Spanish Legal Reclaims has published research showing that more than half – 55% - of UK residents who were thinking of purchasing a property in another country said that Brexit would have no impact on their decision to buy.
This is especially significant news for estate agents in Spain given that the country remains the most popular choice for Britons interested in buying overseas. 45% declared it to be their first choice, compared to the 37% who gave France such billing and the 20% who said Italy was their greatest priority when looking for a home to purchase abroad.
Spanish Legal Reclaims CEO, Luis Cuervo stated: “It’s not surprising to hear that Spain remains the favourite destination for British people who want to buy property in Europe. Despite the horror stories you may have heard of disappearing developers, it continues to deliver on lifestyle, property prices and climate.”
These are words that we can only emphatically agree with here at IQ Marbella. Whether you are seeking the perfect Costa del Sol townhouse, villa, apartment or other desirable property to rent out as an investment vehicle or instead to live in as your own, we will work closely with you to source properties that represent the best match to even your most exacting requirements.