Im looking at buying a buy to let property. not really sure whats best-holiday lets or long term rentals?
obviously the idea of making the bulk of income over shorter holiday periods appeals but expect higher risk and location more important?
it looks to me that Spain is experiencing a terrorism related tourism bounce?
any views/experiences from forum members?
I recently invested in a property locally - but avoided the usual as feel Orihuela Costa / Playa Flamenca is a little overbuilt - but more to the point they are building lots of new properties in a location which still has a load of re-sales. Over supply? of 'me too' generic apartments?
Properties do let in this area, but there are a lot of people trying to do the same - so down to marketing etc, lots of local competition. Short term gets over the spring / summer gets more money, but long term, whilst gets less, could be argued gets more security - really depends on who walks through the door and what you want - full investment, rental only - or will you want to use yourself.
From what I see / hear locally, no one seems to give much of a fig about terrorism locally, even though alerts have been in place - as they are in the UK. Not sure about the bounce, but tourism seems stable. While the sun shines and a 2 hour or so flight from the UK, Brits will keep coming - as will the other Northern Europeans.
I ended up purchasing a flat in Guardamar, which is a little down the road - direction Alicante. Whilst this is location is popular with the expats, it is not as overbuilt - more of a real town (15,000 population), than a manufactured concrete jungle. Nicer parks, dunes, you can walk everywhere in 15 mins and i'm opposite the only 'Disabled access' beach locally, which may prove a useful renting / selling point.
This location is also very popular with the Spanish too, with many owning holiday apartments or renting in this location - giving you access to both English & Spanish rental market if you want. I intend using it initially for a weekend get away / long term investment - though spent plenty of time reviewing the rental sites and seeing how booked up & what prices these type of properties were renting for, to see if viable first (if I do decide to rent out). I found that a decent beach front apartment 2/3 bedrooms seems to be pretty much rented all summer with figures floating around 600 per week.