Long Term Lets Treble
January 22nd, 2008
It’s been a lively week on Kyero.com. Yesterday, we moved to a new cluster of servers in a new datacentre.
Aside from the inconvenience of the site being down for a few minutes, we’re optimistic that we’ll now be able to provide better performance and better reliability in the future.
If you’re wondering whether now is a good time to be thinking about buying in Spain, check out my answer to just that question.
Interest in long term lets in Spain is still on the rise. Compared to this time last year, enquiries about letting a property on a long-term basis have trebled as a percentage of all enquiries. Now, approximately 20% of all enquiries are about long term lets
For buyers wanting to ‘check-out’ Spain or a particular area, the benefits of renting long-term are obvious: They get to experience a particular location first-hand, they’re immediately available to view properties for sale as they come on to the market and they’re in place to deal with the to-ing and fro-ing that seems inevitable when buying a property.
For property owners, letting can be a good deal too. There are none of the legal restrictions that surround tourist or holiday-lets and recent changes in the law favour the landlord should evicting a tenant become neccessary.
If I were selling a property in Spain today, and could afford to wait, I’d let it out long term while the market settles.
Most estate agents advertising on Kyero.com offer a tenant-finding and property management service and I think, for all concerned, the long-term letting business could be just what Spain’s property market needs at the moment.
This week, I also answered a couple of price-specific questions about the Canary Islands. You can read more about price trends in Gran Canaria and those in Tenerife too.
Martin Dell, Kyero.com
