Anyone who has tried to secure a holiday rental on the Costa del Sol this year would have noticed that there has been a shortage of demand, while property owners have seen great returns over the summer. Now, a recent study by holiday rental portal, HomeAway has confirmed that the domestic market has been a contributing factor with a 24% increase in the number of enquiries they received.
Of this figure, 33% of enquiries where for Andalucian properties, followed by Valencia at 17%, the Balaeric islands at 15%, then a big jump for Catalonia which accounted for 12% of demand.
Further positive news for property owners on the Costa is that the demand in Andalucia is 20% higher than last year seconded only by the rise seen in Catalonia which enjoyed a 24% increase in the number of enquiries for holiday rentals. A knock on effect seems to have been that demand for international holidays has declined by 5%, as reported by Spanish newspaper, El Mundo.
Short term holiday rentals on the Costa del Sol which benefits from an extended season due to the long summer as well as golf tourists means that Spanish landlords can enjoy holiday homes for part of the year and profit from it during the rest of the year. This means that bought at the height of the boom around 2008 will see this as loss mitigation while more recent buyers will be congratulating themselves on money exceptionally well spent. Furthermore, most indicators show this trend will continue. As prices and demand for for resale property finally showing an increase, many would believe that now is a great time to buy their first holiday home or add to their real estate portfolio in the Costa del Sol.
The property pictured is a villa in Santa Maria Golf, in Elviria, Marbella currently listed at just under €1.8m.