According to the latest analysis of the Spanish real estate market, the autonomous community of Andalusia is the national leader in the number of residential vacation rental properties. About 24% of all Spanish homeowners provide such options to the market in the region. Andalusia is followed by Catalonia (16%), Valencia (13%) and Madrid (12%).
According to the report of the Fotocasa real estate portal, the number of residential properties for tourist holidays is decreasing in Spain. In comparison, between 2022 and 2021, there is a 5% drop in the number of this offer. Last year, 38% of the total number of apartments on the Spanish market were included in this category, this year — 33%.
A study of the impact of the pandemic on the Spanish real estate market over the past 3 years has shown that since September 2020, the number of houses for short-term rentals (tourist seasons, holiday seasons) is gradually decreasing, as homeowners choose long-term contracts of the general rental market, renting out their housing to a wider buyer.
According to Maria Matos, Director of Research at Fotocasa, some homeowners who prefer long-term rentals are gradually returning to the tourist market after the end of the acute phase of the pandemic, but a significant number of those who left the short-term segment have not returned.
As for all categories of residential real estate, primarily apartments and villas, the data show a slight but steady decline in the number of houses for short-term rental in the first half of 2022 compared to the previous year.
For those who take risks and enter the tourist market or return to it, the main factor of such actions is the profitability of short-term rentals. The risks promise good returns, as such real estate in Spain is extremely popular with wealthy foreign buyers.