With estimated visitors of over 13 million a year, it doesn’t take a genius to realise that investing in property on the Costa del Sol makes financial sense. The area’s long standing and ever-growing popularity means that any buyer considering an investment property anywhere along this beautiful stretch of coastline can relax in the knowledge that they are sure to make a return on their investment.
So perhaps you are considering making an investment purchase along the Costa del Sol, but aren’t sure where to start, what factors to consider, or how to maximise your future rental income. Here at Team España we can help, simply read on to find out more.
When buying for holiday rental purposes, location is one of the single most important things to consider. To put it simply, if your property is in an undesirable location, it simply won’t rent. Luckily, at Team España we have properties for sale across the Costa del Sol, covering all the of the most popular tourist locations. Of course, there are a number of rental markets to enter, whether it’s the high volume, low value market – perhaps an apartment right in the centre of town, or the high value, low volume market – say a villa set back in the mountains with incredible views. Each option has its own benefits, and what you choose completely depends on your own personal investment goals.
It goes without saying that the most stylish properties will always be the most popular, and excellent amenities are massive plus. As new builds appear more and more than ever across the Costa, they make a great choice for a buyer wishing to purchase a turn-key investment, that is finished to a high standard and typically with the very best facilities. Facilities of course make all the difference when it comes to a holiday rental, so a property with a private or a shared pool is always a great choice, and a large, ideally south-facing terrace with a view will massively increase the rental potential of a property. Internally, it’s important to have high quality, stylish finishes and furnishings to really attract holiday makers. If you’re buying new, many developers may have an in-house interior design team that can take this on for you, or here at Team España we can put you in touch with some trusted partners who offer this service.
In order to legally rent a property on the Costa del Sol, and in Andalucía as a whole, there are a number of legal requirements that your property must have. They are as follows: a VFT number, a License of First Occupation, and a Catastral reference. When buying a property with Team España we will make sure any property you view is legally compliant, and that it meets any rental specific requirements, should you wish to rent it out.
Lastly, when looking to invest in a holiday rental property here on the Costa del Sol, it is vital to never underestimate the importance of a good quality property manager. The last thing you need when you’re at home juggling work and family life is to have a property abroad to manage, with potential problems and sometimes tricky guests! Of course we may be biased, but our long established sister company Teamstar Holiday Rentals, one of the top agents in Nerja, manages property across the entirety of the Costa del Sol and are sure to do an excellent job managing your property, using the latest technology to help you maximise your property’s earning potential and reach as many holiday makers as possible.
So, there you have it, the four most important things to consider when purchasing a holiday rental investment property here in Southern Spain. At Team España we have many years of experience in property investment along the Costa del Sol and we would be glad to create a personalised investment strategy for you. Contact us now via telephone or email and we can help you find your ideal investment property.