The number of long term properties for rent in Spain could be on the rise again. New figures suggest that the falling price of Spanish property could mean more rental property owners will be forced to rent long term in order to keep their homes.
The price of properties in Spain has been falling for well over a year now and new figures from the Spanish Housing Ministry show the annual rate of decline to be at around 8.3%. This is good news for everyone as more long term lets in Spain means more choice for renters.
A wider choice of long term rentals will inevitable encourage more people to rent property in Spain, creating a buoyant and healthy rentals market for everyone involved.
The fall in prices will also encourage more people to buy a property in Spain with the aim of renting the property on a long let. There are literally thousands of bargains to be had in Spain now where the fall in the rate of construction did not match the fall in sales.
This has led to a huge number of properties available for sale and for rent, attracting all the property bargain hunters from the UK, Ireland and mainland Europe.
With the end of the housing slump soon coming into view, these conditions look favourable to allow Spain to continue to hold its place at the head of the destinations table for overseas property buyers.