Spanish rental property 'on the rise'

Spanish rental property is on the up again as demand for holidays returns there, it has been noted.

Spokesman for the Spanish Property Owners Guild Paul Bradley said the rate of bookings for rental property in the country was up in October and is ten per cent up for 2010, as demand from sun-starved northern Europeans returns.

He advised that those looking to buy properties to let to tourists to ensure they have "excellent rental qualities to justify a purchase", noting that "capital gains are not expected for at least four to five years" as a backlog of unsold properties remains to be cleared.

Mr Bradley noted that the lowest prices would be available from Britons needing to offload their homes, while Spaniards have a tendency to raise prices when they fail to get a sale.

A recent uSwitch survey of the best countries in Europe in which to live noted that Spain has the most sunshine at 2,655 hours per year on average - something that may aid its enduring popularity with tourists.

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