How much can you earn renting a holiday property in Spain?
28/03/2023
2023-03-28 14:47
Owners of tourist properties in Malaga and Marbella earn an average of over 2,500 euros a month. According to the Suomma platform, which specialises in investments in tourist and seasonal rentals, in 2022 the occupancy rate of Spanish rental properties increased to around 60%. Rental prices also increased, with an average of 25% more per night. This increase is attributed to the "inflation effect".
The largest increases in prices per night for renting real estate took place in Palma de Mallorca - by almost 60% (from EUR 186 to EUR 296) and in Malaga - 26% from EUR 113 to EUR 143 per night. In Marbella the increase was 25% (from 188 to 235 euros per night) and in Torremolinos 24% (from 122 to 151 euros). The report was prepared on the basis of data from the following portals: Suomma, Airbnb, Idealista and Fotocasa.
How much can you earn by renting a flat (apartment) in Spain?
An example of a 3-bedroom apartment rented for tourist purposes brought its owners in Palma de Mallorca a total of EUR 4,600 per month, in Tenerife EUR 2,700 (up 33%), in Malaga EUR 2,600 (up 32%). In the case of Marbella with an increase of 23% - 2700 euros , and in Torremolinos with an increase of 25% - 1950 euros.
Increase in occupancy in rented tourist facilities in Spain
Occupancy in rented tourist properties in Spain increased by an average of five percentage points in 2022 compared to 2019, with the largest increases recorded in high-traffic destinations such as Tenerife (15%) and Torremolinos (11%). In the province of Malaga, the occupancy rate of the analysed locations was 62% in the city of Malaga, 59% in Torremolinos and 50% in Marbella.
Tourist rental in Spain is doing very well
The Suomma portal confirms that tourist rentals in Spain in 2022 have stabilised. This is evidenced by three key indicators:
- Occupancy in 2022 increased by five percentage points compared to 2019.
- Prices per night increased by 25%.
- Income from rental housing increased, in some cases, by as much as 53%.
What are the forecasts?
The investment company's forecasts are that in 2023 tourist rental will become an investment alternative for individuals. Their data shows that buying a house intended for tourist rental can yield a net rental return of up to 13% on an investment of around €70,000. It should be added that Suomma specialises in the sale of shares in real estate for rent, so the indicated amount covers only part of the purchase price of the real estate.
[source: „La Opinion de Málaga”]
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