Spanish property owner discovers value of rental market

An increasing number of Spanish property owners are realising the benefits of placing their second homes on the rental market.

Arancha Ibarra told Bloomberg that she elected to put her two-bedroom Spanish property up for rental after realising her second home could earn her an extra 750 euros (£640) each month.

In doing so, Ms Ibarra joined the ranks of an estimated 1.5 million Spanish property owners who have put their holiday homes on the rental market to earn some extra income instead of leaving them unoccupied when not in use.

Fernando Encinar, co-founder and head of research at Idealista.com, tells the news source: "We haven’t seen this number of properties for rent since the 1950s."

Ms Ibarra’s Spanish property is located in the ever-popular capital of Madrid and offers tenants and tourists alike 70 square metres of air-conditioned city living, the news agency reports.

The Times recently recommended the Mallorcan capital of Palma as an excellent investment for anyone seeking a touch of island life with their Spanish property dream home.

Source: Rightmove & Spanish Property Insight

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