{"id":21297,"date":"2019-12-22T23:02:06","date_gmt":"2019-12-22T23:02:06","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=21297"},"modified":"2019-12-22T23:02:06","modified_gmt":"2019-12-22T23:02:06","slug":"buying-a-second-home-in-the-south-of-spain","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/buying-a-second-home-in-the-south-of-spain\/","title":{"rendered":"Buying A Second Home in the South of Spain"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p>La Costa del Sol in M\u00e1laga (Spain) has traditionally been one of the <a title=\"favourite destinations for buying a holiday home\" href=\"https:\/\/tejadasolicitors.com\/our-blog\/news\/12-2019\/buying-a-holiday-home-in-spain\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/tejadasolicitors.com\/our-blog\/news\/12-2019\/buying-a-holiday-home-in-spain\/&amp;source=gmail&amp;ust=1577140056840000&amp;usg=AFQjCNHehn0VLWjRqutUJweTcCYeGwif1g\">favourite destinations for buying a holiday home<\/a>\u00a0among the British community of expats. A second residence in a warmer country like Spain is considered by many as a way of escaping the bad weather during the coldest days of the year and getting a break from the daily routine. In the last years, renting out these holiday properties\u00a0for has become a profitable activity, especially thanks to Internet platforms like Airbnb or Homify. In fact,\u00a0a study from the banking firm \u201cSelf Bank\u201d shows that landlords renting out their holiday home during the summer season can make a profit of roughly \u20ac712 \/ 610 GBP a week (these values apply strictly to the summer period).<\/p>\n<p>Indeed, since the 1970&#8217;s, cities like Marbella or Benalmadena\u00a0have been promoted as second residence destinations.\u00a0In 2019, Malaga\u00a0was the Spanish province with the 3rd highest volume of property sales (after\u00a0Madrid and Barcelona).\u00a0However,\u00a0as Spain shows signs of recovery\u00a0from the economic crisis, the property market in regions like the Costa del Sol seems\u00a0to be entering a new phase, where\u00a0the most profitable destinations for real estate investment are also changing.\u00a0As opposed to the classical locations in Marbella, Nerja or Malaga city, smaller towns with a high standard of life, such as San Pedro de Alc\u00e1ntara, V\u00e9lez M\u00e1laga or el Rinc\u00f3n de la Victoria currently offer a wider choice of properties at more reasonable prices.<\/p>\n<p>Luxury destinations like Marbella are currently facing legal restrictions on the number of building licences, which is strongly limiting property availability. Nonetheless, Marbella continues to provide\u00a0the strongest real estate market throughout\u00a0Spain, having survived the previous crisis with relative ease.<\/p>\n<p>According to an article from the Tejada Solicitors group in Spain, a property worth\u00a0\u20ac200,000 based in the town of Torremolinos (paying \u20ac20,000 additional costs)\u00a0would reach overall the highest level of profitability (5.4%) in the Costa del Sol region, as opposed\u00a0to the popular destination of Nerja, where it would reach a maximum of 2.1 percent.\u00a0By letting out the property during the holiday season, overall profit\u00a0could reach 9,914 GBP during the first year and 49,570 GBP\u00a0after the first 5 years, following a study from Idealista, one of the main real estate platforms in Spain.<\/p>\n<p>Last but not least, landlords can benefit from interesting tax reductions, provided that their stay in the country\u00a0<span>does not exceed 183 days a year<\/span><span>. For further\u00a0questions regarding the tax implications of these transactions in the current context, do contact the Tejada Solicitors Team.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>La Costa del Sol in M\u00e1laga (Spain) has traditionally been one of the favourite destinations for buying a holiday home\u00a0among the British community of expats. A second residence in a warmer country like Spain is considered by many as a<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/buying-a-second-home-in-the-south-of-spain\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":21298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[1],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2019\/12\/buying_a_holiday_home_in_spain.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/buying_a_second_home_in_the_south_of_spain","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21297"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=21297"}],"version-history":[{"count":2,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21297\/revisions"}],"predecessor-version":[{"id":21300,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21297\/revisions\/21300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/21298"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=21297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=21297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=21297"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=21297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}