The Spanish property crisis and lack of liquidity has increased the amount of properties on offer related to holiday rental businesses such as rural houses for short lets and hostels, it is claimed. Not only has the number increased but also the variety of profiles and business models.
There has been a 200% increase in the number of these types of properties being offered by Spanish vendors to the UK and other international markets. There are two main reasons for this change.
Firstly is a lack of liquidity in the economy in Spain which has forced Spanish business owners to sell their business.
Spain’s new visa for non-Europeans buying property worth over €500,000 is set to spark huge interest from wealthy overseas buyers, it is claimed.
Secondly there has been an increase in expats seeking to move to Spain to start a new life and looking for a property related business. They are finding that there is the opportunity to buy a property at a reasonable price and start using it to earn an income from day one.
It is an exceptional moment in Spain from a property investment perspective. It is never easy to make the numbers work under any climate or market, but currently in Spain the great opportunities for expats are coming from the purchase of a property that is already a business. Some of these businesses would rock the current balance sheets with the right changes and right marketing strategy.