by Benny Webb
Meta Description: Commercial real estate in Torrevieja, Spain in 2023. Investment options of the real estate in Spain. Commercial property in Torrevieja: investment potential.
Property in Spain
Spain is a great country with a wonderful climate, so buying a home here is a good idea. It is also possible to find commercial property in Torrevieja for sale. Housing prices here are very low, so you can buy a great option, inexpensive, in good condition, with all the furniture and appliances. Commercial property in Spain is not only a profitable business, but also a great option to quickly obtain a residence permit, and only then citizenship.
Investment in real estate in Spain
Among the attractive countries for investment, compared with Greece, Bulgaria and other countries similar in terms of living standards, Spain is one of the most profitable and attractive tourist destinations. During the economic crisis, the number of attractive offers has increased markedly. The profitability from rent also increased proportionally.
The most attractive areas for rental business are coastal areas:
- Costa Blanca,
- Costa Dorada.
Consider the most basic areas of the rental business:
- Long-term lease of residential real estate.
Many people think that year-round renting an apartment or house is less interesting, but also have its advantages. You don’t need to deal with the real estate regularly. Also, utility costs are borne by the rented person. Yield on average per year ranges from 6 to 10%. It all depends on the city, district and the condition of the property to be handed over. This figure is much higher than placing deposits in European banks, and more reliable.
- Renting residential real estate for short-term tourist rent.
Unlike a long-term lease, a short-term lease can bring much more profit. Estimated figures range from 8 to 15%. But in this type of business, it is worth considering the seasonality, which is on average 7 months a year and not the full load of the facility, which can be 50-60% per year.
- Lease of commercial real estate for long-term lease.
Currently, the commercial real estate market in Spain is in decline. Due to financial problems, many companies have reduced their offices and a lot of commercial property is now empty. It is possible to find a consumer for renting commercial real estate, but it is quite difficult at the moment. Income from such a lease will not exceed 5-7% per year. Although it seems to be a great option to bring your own business to the country and use your commercial real estate for your personal needs.
Real estate in Spain
Costa Blanca is the most popular resort not only in Spain, but also in the world, where millions of tourists come and fly every year. Having your own restaurant, hotel, pub or shop here is prestigious and very profitable. Moreover, the commercial property market is rich in various offers and their number is constantly increasing.
If you are serious about buying property in Spain, then pay attention to the corner of paradise in the center of the Costa Blanca – the city of Torrevieja. It is one of the largest cities in the province of Alicante, which is part of the community of Valencia. The nearest major city of Alicante is 50 km away, and even less than 40 km to the airport.
When thinking about investing in overseas real estate, you should look at commercial properties, of which there are many in the country. In recent years, experts note that the demand for industrial facilities, operating hotels, shops, restaurants, pubs and other commercial property has increased dramatically. What is it connected with?
- Firstly, Spain is still recovering from the economic crisis, and therefore the cost of properties is kept at a very low level compared to other European countries.
- Secondly, with the right choice, in a year you can get up to 18% profit only on the real estate itself due to rising prices. A warm climate, responsive and friendly Spaniards, a mirror-clear sea, the best beaches, fresh fruits, clean air and much more attract investors to come and stay in this amazing country forever.
Spain is a tourist country, and therefore the most profitable business here is tourism and everything connected with it. Practice shows that it takes a lot of time and money to open a new business, first of all, to obtain all kinds of permits, and then to promote it. Therefore, foreign investors are interested in ready-made and well-established businesses. Any foreigner can buy commercial property in Spain without any restrictions: in a mortgage or for cash through a bank transfer.
Officials welcome those businessmen who invest their finances in the development of industry, construction, services and other areas of the national economy, and encourage them in every possible way.
Real estate for sale in Spain
Spain-Real.Estate will be happy to help you buy any property. All your wishes will be taken into account, in just a couple of days they will provide all the best of the suitable options that take into account your requirements.