Investment Property Costa del Sol
Property investment is well and truly back on the Costa del Sol. After the last financial crisis, property prices plummeted by up to 50 percentage in the worst affected areas. However, the past years have seen large increases in the valuation of properties right across the coast and now property investors looking to expand their property portfolio have returned.
So well is the property market here on the Costa del Sol - that the property rental industry is what many investors are turning to, especially in Malaga where rental prices have risen immensely. Spain in general has always been a big attraction for investing into a buy to let property, with huge demand for accommodation in Spain especially during the summer months - even though off peak season also draws large interest. With the ease of travel and low cost of renting an apartment for a week in comparison of a weeks stay in a hotel - no wonder the demand for cheap holiday accommodation has risen so much.
Spain has had recording breaking tourist numbers year on year for the past three to four years, most notably due to security risks posed to holiday makers and viewing Spain as a safe country to visit. But also due to more airlines flying in and out of the likes of Malaga, Barcelona, Madrid, Alicante and Murcia - with excellent low cost travel available to us all.
Many investors opt to use their investment properties to yield more during the summer months as rental incomes can be as much as double as off peak season months. However, this entails more effort and cost as your apartment or villa will have to be cleaned, re-marketed and sometimes up keeps and renovations between arrivals. This will also reduce the amount of time that your property is occupied throughout the year. Long term lets are less effort, a constant income is assured, cleaning maintenance and advertising of the property is not then necessary. Long term rental prices are also on the rise along the Costa del Sol due to increased demand.
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The Costa del Sol is a popular destination for tourists and second-home buyers, and property values have generally appreciated over time. However, it's important to note that prices vary greatly depending on the location and type of property you're looking for.
In general, you can expect to find properties with a budget of 300,000€ in popular areas such as Marbella, Estepona, and Mijas, but the type of property you can purchase will vary. For example, you can find a small apartment, studio or maybe something a little bigger, possibly with sea view. You can also find some bargains in less popular areas but you need to check if the location is still convenient for your needs and if the area is a safe investment.
It's always recommended to do your research, consult with a local real estate agent and a lawyer who specialises in property purchases in Spain, as they will be able to provide you with more detailed information about the local market, and help you navigate the process of buying a property in Spain.
If you decide to rent out the property, you can expect to earn rental income, which can provide a steady return on your investment. The rental income will depend on the location, size and condition of the property, and on the demand for rental properties in the area. Generally speaking, properties in popular tourist areas such as Marbella and Fuengirola tend to have higher rental yields than properties in less popular areas. However, it is important to note that the rental income can also be affected by the seasonality and can be lower during the low season.
As for capital appreciation, the property prices in the Costa del Sol have been appreciating over the years but this can vary depending on the location and the state of the market. Generally, property prices in the Costa del Sol tend to be more stable than in other areas of Spain, but it's important to keep in mind that property values can fluctuate depending on a number of factors such as the local economy, interest rates, and overall market conditions.
It's important to note that these returns are not guaranteed and are dependent on the local market conditions and the property itself. It's always recommended to do your research, consult with a local real estate agent and a lawyer who specializes in property purchases in Spain, as they will be able to provide you with more detailed information about the local market and the returns you can expect from a property investment in the area.