Steep drop in rental prices and how you can profit
03 September 2020
By Martha L.
Director of Alanda Properties
3rd of September 2020
As I’ve highlighted in previous posts, the Covid-19 virus outbreak is creating a number of great buying opportunities in the market for savvy investors. Likewise, it is also creating unique opportunities renting out in Spain, specifically long term. Scores of landlords have shifted their properties from holiday rentals over to long term lets because of the pandemic. This in turn has impacted prices with the increase in supply (greatly) reducing long term rentals.
You can now bag yourself two-digit discounted rentals in prime locations in Spain. This is nothing to scoff about, as when you sign a long term lease by law you can remain (at your own choice) for up to five years in the property (even eight or ten years depending on whether the landlord is a physical or legal person). Securing a lease contract at a huge bargain price on a prime location for an extended period of time sounds almost too good to be true, almost like a dream. This is one of many positive untold consequences of the virus outbreak.
The pandemic will come to an end in a year or two, but your rental contract will go on for many more years, unfettered, at a huge bargain price, well-below the real market value. If this is not a great deal, then frankly I don’t know what is.
Contact me at Alanda Properties for hugely discounted long term lets in Marbella and the Costa del Sol. You will be surprised to learn the bargains this new market has to offer on prime locations.
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