Buying property in Spain to rent

• Why has Spanish property been popular?
• Tips for buying a property in Spain to rent
• Managing your rental property in Spain
• Getting expert advice before you buy

Research the location

Location is key when it comes to buying a property in Spain to rent. Consider popular tourist destinations such as the Costa del Sol, Costa Blanca, Costa Brava, the Balearic Islands, and the Canary Islands. These areas have a high demand for vacation rentals and can offer a steady stream of rental income.

Additionally, research the local amenities and attractions in the area. Properties near beaches, golf courses, and other popular tourist spots tend to have higher rental potential. It's crucial to think about how easy it is to reach a place. Properties close to airports, beaches and public transport might be more attractive to tourists.

Work with a local real estate agent

Navigating the Spanish property market can be challenging for foreign investors. Working with a local real estate agent who is familiar with the area and market can be invaluable. They can help you find homes that match what you're looking for, negotiate prices, and take care of the legal side of buying by introducing you to a trusted and reliable legal partner in the area.

EasyFX has a deep understanding of foreign markets and the factors that cause them to fluctuate. We've been helping people buy, sell and rent properties in Spain for almost two decades. We ensure you work with the best advisors, and this shouldn't stop at currency. We ensure your money is where it needs to be, ahead of time and with local and phone-based support available around the clock. Let us know where you want to buy, sell or rent, and we'll give you advice that's tailored to your needs. Please contact us to discuss your international money requirements in more detail.

Understand the legal process of buying property in Spain

Purchasing a property in Spain involves a different legal process than in other countries. It’s important to understand the steps involved and any potential legal implications. Consider hiring a lawyer with expertise in Spanish property law to assist you. This professional can help navigate the process and ensure all paperwork is accurately completed.

To learn more about the potential legal implications, you can download our detailed guide at the top of our page about buying property in Spain.

Consider all the costs involved in buying a property in Spain

When buying a property in Spain, it’s important to consider all the costs involved. In addition to the purchase price, there are additional fees and taxes that must be paid. These can include notary fees, property transfer tax, and legal fees. It’s important to budget for these costs to avoid any surprises during the purchasing process.

Determine your Spanish property rental strategy

Before purchasing a property in Spain to rent, it’s important to have a clear rental strategy in mind. Will you rent out the property on a short-term or long-term basis? Will you manage the property yourself or hire a property management company? These decisions will impact the type of property you should invest in and the potential rental income.

Managing your rental property in Spain

Once you’ve purchased a property in Spain, it’s important to have a plan for managing it. This can include finding tenants, maintaining the property, and handling any legal or financial responsibilities.

Finding tenants

To find tenants for your rental property, you can use a variety of methods. Many people use websites like Airbnb and Vrbo for short stays, while those looking for longer rental periods often advertise on local sites or seek the help of a real estate agent. It’s important to thoroughly screen potential tenants and have a rental agreement in place to protect your investment.

Maintaining the property

Maintaining your rental property is crucial for keeping it in good condition and attracting tenants. This can include regular cleaning, repairs, and updates to keep the property in line with market standards. If you are not able to manage the property yourself, hiring a property management company can ensure that these tasks are taken care of.

Legal and financial responsibilities

As a property owner in Spain, you will have certain legal and financial responsibilities. This can include paying property taxes, obtaining necessary permits, and ensuring the property meets safety and health standards. It’s important to stay informed about any changes in laws or regulations that may affect your property.

Getting expert advice before you buy

Before you buy a rental property in Spain, it's important to thoroughly research and create a strong plan. This can streamline the buying process. To make the most of your purchase and enjoy the benefits of owning a piece of paradise in Spain, understand the Spanish property market, work with local experts, and skillfully manage your property.

Our goal is to provide you with the knowledge and tools you need to make informed decisions about buying or selling property in Spain. We can help you with everything, from explaining mortgage application requirements to discussing the importance of foreign exchange, taxation, legal matters, and wealth management. We're here to make it as 'easy' as possible for you. To find out more about buying a property in Spain to rent or any of the mentioned services, feel free to contact one of our experts.