Long term rental prices hit an all-time low
03 November 2020
By Martha L.
Director of Alanda Properties
3rd of November 2020
The Covid-19 pandemic has taken its toll on long term rentals and holiday rentals. As a result of the continued lockdowns and quarantines tourists are facing in their home countries, this has resulted in a sharp dive in demand. This in turn has greatly impacted the offered holiday rentals, with landlords pulling out in mass and changing them over to long-term rentals instead deemed more secure financially (from a point of view of they create a steady income stream).
As a result of the above, we are witnessing long-term rentals at an all-time low in several prime locations. Rentals have seen price drops of two digits across the board. This is particularly interesting for those looking to snag a bargain. Long term rentals in Spain are for 5 years, although a tenant can of course leave earlier at his choice, if he wishes. The ongoing pandemic has created a slew of once-in-a-lifetime buying and renting opportunities in key locations.
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.
2.020 © All Rights Reserved.