Aberdeen lad

Hi folks, am looking for advice in buying to let in Spain preferably near Alicante as this is a easy commute for me
1st question is what is a good area to buy, I was looking at torrevieja as it was quite cheap but after doing some research realised there was a large crime rate there on top of a abundance of empty properties keeping prices down.
2nd question after buying a property and signing up with a property management company how realistic is it that I can have this rented out all through high season, as I don't want it sitting empty for long periods making nothing.
3rd question with around a 100k to spend would you advise buying one property or two at 50k i.e what's the best way to maximise profit.
Any advice and pointers much appreciated 👍

Rosemary

Hi and a warm welcome to the Spanish forum on BE. Myself and Fred James are the moderators for the Spanish forums whilst BEVS moderates Europe. Moderators are there to ensure that the site runs smoothly within the rules of BE. This is so that members gain the information that they are looking for and find their experiences on the forums to be friendly and worthwhile.

Problems and complaints should always be addressed to a moderator who will look into the matter and deal with it efficiently and fairly. Our members who post in the Spain Forums are usually friendly and helpful with a wealth of knowledge about the issues of living in Spain. I hope that you enjoy your time participating in the forums.

Please let me know if you need any further help.

Rosemary

Aberdeen lad

Thanks for the welcome rosemary

Horlics

1. A good area to buy is a desirable one where it is already built up, so no huge new developments can be added thereby lowering prices of existing stock. For example, close to a marina, close to amenities.

2. You asked about high season. If the property is nice and in a desirable area then it is very likely that you will rent it out for high season without any trouble. But then you mentioned it sitting empty for long periods. The trouble is, high season is short and low season is long, and unless you get something in a built-up area where everything you need is a short walk, you will have plenty of empty time out of season.

3. Buy one, the nicest one you can in the best location.

missile

Do your own research. Do not be swayed by estate agent predictions of rental returns. As an absentee landlord your costs may outweigh your income.

Look for similar properties in the local and check their availability. Do your sums based on their occupancy and don't forget you will have maintenance costs and fees for an agent to manage your property.

I see many properties sitting empty for long periods, at prices where I know from my own fixed costs I am sure they cannot possibly break even.

If you are looking for property to use and wish to offset part of the cost, then great idea. IMHO your £100,000 investment would yield a better return in Aberfreeze.

spainrico

You will also have community fees, local taxes, income tax and maintenance fees to pay.

Aberdeen lad

Thanks for the reply but you have comfirmed my thoughts, yeh was going to use it now and then for myself and family & friends in low season but I really wanted it to make some cash for me, I think the best idea would be to rent out my house here in Aberdeen which I hardly use as I stay with my long term girlfriend most of the time and use that money to rent a place in Spain for 4 weeks at a time bonus wouldn't be 1 make more money and 2 would be restricted to the same place all the time 👍

Aberdeen lad

And TV satalite, internet, electric, gas, pool maintenance, cleaning fees, property management fees list goes on 😂

missile

Sounds like a plan> We rented our property in Abz when we bought in Spain. Very glad we did.

Horlics

Oh sorry, there was I thinking you wanted to buy to let in Spain (for some reason).

I didn't realise you were actually looking for overall financial investment advice.

You probably haven't come to the best place for that.

I remember seeing a Torygraph article that listed one Aberdeen postcode in the top ten nationwide for rental yield.