81% of owners of a home in Spain say they would not put their homes into the holiday rental market, while only 16% said they would consider it. The other 3% say they already have their property available for short-term rentals, according to a report from fotocasa.
These numbers are very similar to 2018, meaning the rise of the holiday rental is not a prolific as previously thought.
“The data in this study shows that the percentage of private owners who have listed their property for holiday rentals in the last year is low. Additionally, those who do are more likely to have properties in coastal areas,” explained Beatriz Toribio from fotocasa.
Following that, the autonomous community in which more owners offer their properties as a holiday rental is the home of the famous Costa del Sol: Andalucía, which is home to 26% of Spain’s holiday rentals. Next are Catalonia (18%), and Valencia (13%).
Those owners who do offer their property for holiday rentals say they do so mainly because it is a source of income. This is the case with 34% of owners who rent a holiday home. A further 25% say they rent their home because of the profitability offered by this type of rental. Another 22% say they do it because they prefer to have their property occupied than empty.
Other reasons include the plan to purchase another property (5%), while 3% are renting their home while waiting for the sales price to rise before they sell it.
Holiday Lessor Profile
In 2018, there were more female landlords of holiday homes (55%) than men. However, this has reversed in 2019. Now, 53% of holiday homeowners are men, compared with just 47% being women.
Owners are most likely to be between 45 and 54 years old (30%), followed closely by those aged between 35 and 44 (29%). Those between 55 and 75 years old make up 27% of owners. Younger people make up a small percentage of owners with 11% being from 25 to 34 years old, and only 3% of owners are aged 18 to 24. The average age of holiday homeowners is 47 years.
Looking at their family situation, 57% of holiday home landlords live with their partner and children, 21% live as a couple (without children), 8% live with their parents and 6% live alone.
Buying a property in Spain for either long-term or holiday rental has long been a popular reason for purchasing a new home. We have many properties for sale on the Costa del Sol that are in locations very popular with holidaymakers. Take a look at our properties for sale in Marbella.