Spain Guide

 

Costa Blanca Property

A Costa Blanca property can be a goldmine as long as you choose the right location and buy the right type of property. This beautiful "White Coast" stretches for about 160 kilometres down the east side of Spain, from Denia in the north to Torrevieja in the south, and both the quality and letting potential of properties here varies enormously depending on where you buy.

Javea is one of the prettiest of the Costa Blanca coastal resorts but it's also one of the most expensive places to buy a villa or apartment. Hotel construction has been strictly controlled here and the vast majority of holiday accommodation is provided by self catering villas. If you can afford to buy a property in Javea you'll reap the rewards both in terms of the rental fees you'll be able to command if you let your villa and in terms of its capital appreciation. Prices continue to rise here and there's no sign of that trend reversing in the foreseeable future. Invest in a villa with a pool within easy reach of the sea and you'll be able to charge more than £1,000 a week for it in high season. If it's a luxurious villa with a sea view you'll be able to charge considerably more.

House prices are much cheaper at the southern end of the Costa in and around Torrevieja but rental prices are much lower too. It's still a popular tourist spot but it can't match the northern Costa Blanca in terms of sheer beauty.

 

If you're buying a property solely for investment purposes, rather than for permanent living, focus on what the average tourist wants (which may differ from what you'd want yourself if you were planning to live in the property).

A swimming pool is vital if you want a fully booked rental season. Most visitors want to be near the beach, shops, restaurants and nightlife so don't plump for a beautiful, isolated spot on the top of a mountain!

Take the advice of seasoned holiday property owners and go as upmarket as you can possibly afford. If you can afford to buy in one of the more exclusive resorts such as Denia, Javea or Moraira then don't be tempted to save money by going further south. A quality villa with good letting potential is one of the best investments you can make so you may as well go for the best that your budget will allow. And don't skimp on the furnishings and extras quality and comfort will be appreciated by your guests. The same applies even if you're buying a small studio apartment. Furnish and equip it well and pay attention to small details a welcome pack with helpful information, a bottle of wine in the fridge and some Body Shop goodies in the bathroom all make a huge impression on people (especially women!).

Miserly owners who try to cut costs (and there are plenty of them around!) only succeed in shooting themselves in the foot. Don't forget the old maxim that nothing travels faster than bad news. Your best PR people will be satisfied customers who return year after year and tell all their friends about you.

The most successful holiday property owners are able to make money out of their villas for several months of the year, not just in high season. But it's a business so it has to be run professionally. If you can't (or don't want to) run it yourself make sure you hire a good, trustworthy property manager who will look after your guests and ensure everything runs smoothly.

Leave your comments

Post comment as a guest

0
  • No comments found