News from our colleagues at Kyero.com
In last week’s Spanish property news, the demand for holiday rentals soars.
Last year in Spain, bookings for private holiday rentals were reported to have grown by 25 percent. In such a bourgeoning market, buy-to-let investors are also growing and it is increasingly important that owners are aware of the new legislation being enforced on holiday lettings.
The legislation varies from region to region, mostly demanding that owners obtain a licence permit for their property from the local authorities; however certain regions are prohibiting any private holiday lettings entirely and many are placing certain restrictions on them.
Our friends at Spain-holiday.com have just published an updated summary of the current legislation, with all the information you need to know today. If you’re thinking about renting your home on a short term basis, we recommend you start by reading the summary here.
In other news, TINSA have revealed their 2014 house price index. According to the Spanish property appraisers, house prices fell by 3 percent during the last 12 months, a not inconsiderable recovery following the 9.2 percent drop in 2013.
The slowing fall in property values is coinciding with a much needed increase in Spanish buyers, a third of whom bought properties without the need for a mortgage in 2014, and contributed to a strong rise in house sales as the year progressed.