# buy to holiday rent



## lifeismine (Feb 22, 2012)

hi,
I am thinking of moving to duquesa estepona area i am going for 2 weeks at the end of this month to look things over.What i am planning to do is to sell my apartment in Cyprus and buy 2 apartments in the said ares to rent out as holiday rents.
My question is would they rent out for say 26 weeks of the year to make it worth my while and be able to live off the rent for a year ?

thanks in advance

m


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## larryzx (Jul 2, 2014)

lifeismine said:


> hi,
> I am thinking ..................... to buy 2 apartments in the said area to rent out as holiday rents.
> My question is would they rent out for say 26 weeks of the year* to make it worth my while*


Letting 100% legally is not easy, despite what some (agents etc) may like you to believe.

My son has an apartment on CDS and is 'waiting for the market to pick up'. In the meanwhile he has allowed an acquaintance to live in it rent free, (18 months so far) as the return he would get from letting, after all the fees and hassle, he believes, is not worth it. 

PS He is an accountant so not easily put off, if it were just a few forms !


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## mrypg9 (Apr 26, 2008)

We shouldn't exaggerate problems with renting here - I am not an estate agent but I have a Spanish friend who has a lucrative estate agency business in the Estepona area, letting hundreds of holiday houses and apartments. Many posters on this Forum rent properties short- term.
But I would advise against this investment as the market is saturated and you may not receive the regular returns you would expect. My friend has seenoccupancy of his houses and apartments fall significantly this season, despite being in a sought- after family holiday area. My son and dil have a house on the C dS which they allow friends to use in return for covering utilities and community fees but this season the house has been empty.
Some think this is due to the increasing popularity of all- inclusive holidays.

Before deciding, I'd suggest you visit, chat to people who run letting businesss, consult a lawyer as to the current laws relating to short- term rentals. Snikpoh, a regular poster, is a landlord and knows first- hand the rental laws but most of us are not experts and can speak only on our own experiences.


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## maxd (Mar 22, 2009)

From what I hear the market in Cyprus is a disaster, unless you are selling your apartment there for a very good price I would not count your chickens.


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## mrypg9 (Apr 26, 2008)

I have to say that I do notunderstand what is meant by ' all the fees and hassle' in connection with renting here, whether short or long- term. Millions do it totally. 'Hassle' free.
Sure, you have charges, the usual taxes, community charges and so on but you factor those in when setting the rent. Of course you need to show the rental dwelling is fit for habitation and you must have a Certificate showing energy conservation efficiency but that's the case Europe -wide.
I've been a landlord in the UK and abroad but I would never be one in Spain. The reason for that isn't the alleged labrynthine nature of Spanish regulation but the way Spanish rental law favours tenants over landlords as I think Snikpoh would agree.

Bureaucracy of all kinds is far less daunting in Spain than that of other countries I've lived in.


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## mrypg9 (Apr 26, 2008)

Allowing anyone to stay long- term in your house, whether paying rent or not, whether with written contract or not, can lead to problems.
Does anyone remember the sad tale of the woman forum member, who owned a bar and found one of her customers had somehow got hold of her house keys , moved in and changed the locks? The police could do nothing, she couldn't cut off water and electricity as she would have been breaking the law. It took a very long time and cost a lot in legal fees before she got her house back, and in a very poor condition.
Of course most friends wouldn't behave like that but it's in the interests of both parties - and of maintaining friendships - to organise some kind of written legally binding contract. 

I think that thread came up about three years ago...


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## lifeismine (Feb 22, 2012)

the market in limassol is still very bouyant i bought mine years ago and has doubled in price and thats if i put it at a low price.What happened last year affected people who bought at the top of the market and im talking about the 500k plus which we have friends that have and they cant sell because people (russians) no longer trust the banks.I was one of the lucky ones that moved my money a few months before.
So i guess its like cds when everyone was building prices hiked and the rug was pulled out.I wish to buy for long term 10 years plus will the market rise in that time...i think so.
But the reason i want to go to spain is my wife gets home sick and to fly in or out of here is ridiculous looking at flights now from uk to cyprus over 300 euro to malaga just151,half the price


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## 90199 (Mar 21, 2010)

Is a licence needed for short term holiday lets on the peninsular, it is a requirement here, and they are almost impossible to obtain, plus the fines for not having one are quite steep. I believe that there has been quite a few problems in the south of Tenerife.


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## maxd (Mar 22, 2009)

lifeismine said:


> the market in limassol is still very bouyant i bought mine years ago and has doubled in price and thats if i put it at a low price.What happened last year affected people who bought at the top of the market and im talking about the 500k plus which we have friends that have and they cant sell because people (russians) no longer trust the banks.I was one of the lucky ones that moved my money a few months before.
> So i guess its like cds when everyone was building prices hiked and the rug was pulled out.I wish to buy for long term 10 years plus will the market rise in that time...i think so.
> But the reason i want to go to spain is my wife gets home sick and to fly in or out of here is ridiculous looking at flights now from uk to cyprus over 300 euro to malaga just151,half the price




I have been to Limassol many times. Not only the flights but Spain in cheaper in general. I was speaking to a Dutch guy the other day who says he is not going back anymore because it is too expensive, I think he paid 12 euro for a few coffees was his whinge 

Anyway I know what he means, my local place a coffee is 1,20 compared to 3 or 4 euro in cy.


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## lifeismine (Feb 22, 2012)

i can do a few comparisions if you care to help me maxd ?
electric 0.17 per kw
petrol 1.43 for 95
iceland steak pies 1 in uk 4 euro here
internet 6mb with telephone no free calls 50 euro pm
went shopping with the wife a couple of weeks ago in ovs the ticket on the shorts said 18 euro but it also had what the price was in other countries in europe and spain was only 15 
euro, some mark up i understand about transpotation costs but when your bringing thousands in at a time how do they justify the extra price ?

I think the only things that maybe cheaper over here is spirits and cigarettes a 75cl bottle of smirnoff 9 euro cigs landm for 20 is 3.60...
prices hiked when they entered the euro it use to be 1 cy pound for a pint of lager so it should have been 1.71 euro but the bars and shops up it to round it off so a pint went to 2 euro so basically everything went up over 20% over night.
i guess its not all their fault the russians came over so the prices went up but they are noticing that everything seems to be higher prices for them,cyprus will finally kill off the cash cow and try to go back to tourists but i'll be too late.
My wife is irish and its the first time since she has been over here in 13 years that there are NO flights from southern ireland this summer.
Are there many russians in spain ? as its cheaper by over 100 euros to fly from moscow to malaga on a 6 hour flight than it is to cyprus on a 4 hour flight


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## maxd (Mar 22, 2009)

I am in the Canary Islands:

Petrol 1.02 per liter
Internet 37 euro
Pint 1 euro-150
Cigs about 2,50 a pack

This is different from mainland Spain because of special taxes we have here. There is also no low season in the Canaries because of the year round weather. May-June quietest months, so lets are a better bet here although it is a grey area. Some Russians are here but you not notice them, it is nothing like Limossolgrad. I tend to notice Brits, Germans, Scandies, Dutch and French, probably in that order.


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## mrypg9 (Apr 26, 2008)

Very wealthy Russians in Marbella, Puerto Banus, Sotogrande. Not many elsewhere.


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## lifeismine (Feb 22, 2012)

Limossolgrad lol yep thats what they call it also little moscow.When i moved here years ago the menu boards ouside the restaurants were written in greek with english second,now its russian with english and no sign of greek.

Staying in peurto banus and have hired a car,start there and work my way down over a couple of weeks to see what areas we like.Areas i would like to buy are probably duqeusa and estepona.To be honest its the russian market im looking at as we have alot of contacts in cyprus and russia that are fed up with cyprus as a holiday destination ( u can drive from one end to the other in 2.5 hours) and are looking for somewhere else will look at sotogrande


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