Like just about everywhere else in the world, the economic crisis is of course having its impact on the Spanish property market. Property prices on the Costa del Sol fell throughout last year which, although not such great news for sellers, is making for lots of opportunities for potential buyers. With both mortgage rates and property prices running at a low and a superb range of luxury villas, apartments and penthouses in and around Marbella on offer, 2010 looks set to offer some great bargains.
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Posted on March 11th, 2010 in English, Industry News | Comments Off
With the price of property on the Costa del Sol looking more attractive than they have done for years, now is certainly a great time to invest whether you’re looking for a holiday home, a permanent residence or a property with good rental potential. Of course, for many people, buying a property abroad can often fulfil more than one of these requirements. Some buy holiday homes to use themselves and then rent them out for the remaining weeks of the year, whilst others invest in what will later become a retirement home and rent it out in the meantime.
With the enduring popularity of the Costa del Sol as a holiday destination for visitors from the UK, Europe and elsewhere in the world, there is no doubt that the rental market is a lucrative business to be in. With many properties fetching in excess of £500 per week (and sometimes well in excess of this figure) during the high season, the potential for gain can be quite considerable. Where short-term rental is concerned, however, there are a few things which buyers need to consider carefully before going ahead.
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