Long-term rental market in Spain is "superb"

Long-term rental market in Spain is "superb"
Spain still represents a good long-term investment, especially when it comes to the rental market, one expert has said.

Tim Hodges, local director for the County Homesearch Company in Spain, told news provider About Property that rental returns for holiday lets are "superb"....

Article Date : Tuesday, May 01, 2007
Spain still represents a good long-term investment, especially when it comes to the rental market, one expert has said.

Tim Hodges, local director for the County Homesearch Company in Spain, told news provider About Property that rental returns for holiday lets are "superb".

He attributes this to low interest rates and an increasingly liberalised Spanish mortgage market, while rules over illegal and low-quality builds are being tightened.

"Spain continues to have the best climate in Europe, excellent health service, frequent cheap flights and a welcoming approach to other Europeans and now could be an excellent opportunity for foreign investment," he added.

His remarks follow concerns that over-investment and excessive supply in the Spanish property market has prompted a price correction, which could cause problems for short-term investors.

However, Mr Hodges believes that this correction has been in the pipeline for some time and was evident in accepted offers made over the past few months.

"It offers clear evidence that the quality of housing stock must now be reviewed and that the issues concerning off-plan investors clouding the real marketplace must be addressed," he added.