Renting in Spain hasn't changed much over the past few years, the advice held in this article from 2004 is mostly just the same in 2009, with some positive differences when taking into consideration the current market.
Apartments are the predominant property in Spain, with few detached homes especially in towns and cities. Demand from the Spanish is quite low compared to other countries - just 13% of Spanish households live in rented accommodation, compared to more than 40% in Germany and France, and around 30% in the UK.
But with the recent housing boom, there is a deluge of unsold property and more owners are turning to the security of long term lets to realise their investments. The benefit here is that it has become a 'buyer's market' due to the basic law of supply and demand.
The other benefits still apply, with renting in an area a wise choice before making the plunge to purchase. While two weeks in a location gives some knowledge of the area, only by staying longer term can you be certain that the area suites your requirements and has the lifestyle that will ensure a permanent stay as enjoyable as possible - purchasing immediately does not allow for any such consideration.
One feature mentioned in the article was that Kyero published average long term rental prices, this is no longer the case. Kyero, being mainly sales orientated, dropped price comparisons for rentals to concentrate on more substantial work on its independent house price index. This information should still be able to be extracted from Kyero's archives so I'll take a look at publishing some data on the subject soon, at least a current snapshot of the market today, if not a full historical breakdown.
With around 10,000 rental properties available on Kyero, it is still one of the largest sources available today on the internet - the latest long term properties to rent in Spain can always be found here - http://www.kyero.com/browse/spain-property-long-let-pag1ppp20slt1srt4
The original article stated:
An apartment in Spain can be an excellent investment, particularly if you are thinking of renting it out. Demand for long-term rentals in Spain is increasing daily as more people consider relocating to a sunny country. Many prefer to rent first to get a feel for an area and for life in Spain in general, but it is not always easy to find an apartment in Spain that is available for long-term rental. Many property owners in Spain, prefer to only rent out their property during the peak summer months, when they can charge a premium. However, as the number of properties available for holiday lets increases, it can make better financial sense to rent your apartment out long term. Although the monthly rent you can charge will be cheaper, you do have the assurance of a longer term rental period. To ensure that you are making an informed decision, use the Kyero price guide to find out how much apartments are selling for at the moment and also to see the average long-term rental price of an apartment in Spain.
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