Property rentals set to grow

Apart from the typical tourist destinations and holiday lets, long term rentals in Spain have never been a high priority for estate agents. The average Spanish national usually owns more than one property but is cautious about renting and would rather leave property empty. Until now rentals have only represented 5% of the average estate agents earnings here in Spain with property sales making up the other 95%, but within two years this 5% is set to grow into 30% if Sr. Jose Juan Muñoz general secretary of PFAG (Programa del Formento del Alquiler Garantizado) is correct.

And why shouldn´t he be correct? Last year saw a national increase of 5% on rents according to the Spanish National Institute of Statistics. With new laws which protect the owner from age old problems such as sitting tenants and unpaid rents combined with a shortage of long term rental property in and around places such as the city of Valencia investors can clearly see the advantage.