Recently, more and more foreigners buy real estate in Catalonia for future lease.
Catalonia is that popular because tourism in this area is developing really fast. Tourists from Germany, the Netherlands, Sweden, Great Britain, Norway and Russia come here yearly. Catalonia and Barcelona in particular are the most popular tourist destinations in Spain according to «Travellers Choice Destinos».
Furthermore, the quantity of tourists choosing villa and apartment rental over hotels is growing by 15% every year, statistics say. The reason for that is overpricing of hotels in the summer period. Pierre & Vacances Center Parcs specialists say that apartments and villas for rent are a big competitor for the hotel sector since they offer more economically advantageous prices.
Apartments in the districts of Borne and Eixample of Barcelona are considered the most profitable. The mostly profitable vacational real estate in Catalonia is situated on the coast by the sea. Experts say that resort real estate is more functional than properties in the city. Since it only makes sense so buy real estate in Barcelona for long-term rental, houses and apartments by the sea are profitable both for long- and short-term rental.
The demand for villas in high season is growing especially fast; there are not enough properties of this type in the market. Coastal houses, especially villas in front of the sea, earn good profit for their owners.
Moreover, apartments situated not more than 500 metres from the beach are rented out at a good price as well.
It is worth noting that, apart from real estate price fall in Catalonia, rental prices are growing very fast, which is why more and more foreigners buy properties in Catalonia in order to rent them out and to come here with family during vacation period.
According to Idealista, a Spanish website, the profitability of real estate for lease amounts to minimum 4% depending on property type and location.
The conclusion is the following: meanwhile different experts are writing reports and making predictions concerning real estate crisis consequences, it is possible to choose the most interesting and profitable real estate objects in Catalonia and start getting money from renting them out. This prospect looks more attractive against the background of the newly adopted law of entrepreneurs presupposing issuing residence permits to foreign citizens after buying real estate in Spain. You can read about it in detail here.