Press Release: Spanish mid-term rental market will generate 166 million euros for owners in 2021
Updated: Feb 2
Brits with properties in Spain, can earn valuable income from longer term rentals
Accommodation for business travelers and digital nomads is recovering faster than tourist rental
Homelike recommends owners to opt for mid-term rental since reservations in this type of accommodation have grown by 20% in 2021
The market for mid-term rental housing is now three times larger than in 2019
London, 20 August 2021: Homelike, the accommodation rental platform for business travellers and digital nomads, has estimated that, this year, the rental of mid to long-term accommodation in Spain will generate 166 million euros.
Homelike’s data shows that mid-term rental reservations in Spain grew by 340% in 2021 compared to 321% in 2019.
Samuel Toribio, Country Manager Spain, said of the trend “Reservations in Spain for this type of accommodation have grown by 20% in 2021 to date, which shows how quickly the mid-term rental market is recovering compared to other alternatives such as tourist rental, which has not yet taken off”.
“This trend confirms that in the tricky world of real estate, mid-term rentals are a safer option for owners than shorter, more traditional tourist/leisure rentals, both economically and in terms of reservations. The growth in digital nomads working remotely from cities around the globe has driven a high demand for this type of accommodation”, explains Toribio.
Spain has been one of Homelike’s biggest success stories with regards to growth in bookings, remaining a favourite destination for Brits who want to escape the colder British climate without the need for travelling to far flung destinations.
Homelike has long promoted the fact that the mid-term rental market is an incredibly viable option for anyone seeking to rent out overseas properties. Homelike has a strong presence in Spain, with 12,500 properties on its platform in the country. There is, however, always room for more properties and this huge growth in income for landlords shows that there is certainly the demand to meet supply, making property ownership in Spain a very viable and profitable business model.
There is a greater sense of confidence and security for owners in this sector generated by the fact that mid-term rental generally attracts a more careful client and with fewer change overs between bookings.
Finally, the company states that the average rental price of a mid-term home in Spain is 1,655 euros per month. An amount that increases in Madrid and Barcelona, where 1,690 euros and 1,719 euros are paid, on average, respectively. And, it falls in Valencia, up to 1,200 euros per month. These are healthy ROIs for any landlords seeking to rent out accommodation in Spain.
Homelike calculated the 166 million euros by multiplying the average monthly rental price of a temporary home, by the number of homes that exist on its platform.
For more information visit: www.thehomelike.com
Notes to editors:
Homelike is the largest online marketplace for long-term furnished apartment rentals for business travellers. The company provides a best-in-class booking experience for high-quality apartments for 30 nights and more from professional landlords.
Homelike helps executives, professionals, expatriates, consultants, and trainees from around the world to find appropriate accommodation quickly and conveniently online from a range of over 65,000 properties in 450 cities.