Fuengirola property rentals

As a slight change of pace from talking about properties for sale on the Costa del Sol I thought I would talk a bit about the property rental market here in Fuengirola. As can be imagined, as an estate agency based on the Paseo Maritimo (beach promenade) of Fuengirola, we get a fair share of passing trade asking for rentals in the area. I must admit, originally we were not keen on starting a rental department, but due to the amount of people that have approached us, both tenants and landlords, we finally decided that although our main aim was still to help people sell their property, rentals over the last 2 years has proven an additional boon.

What has struck me as quite interesting, is the amount of summer rentals that have been done this year. All our front line beach properties have rented out fully for August and a majority also rented out of July. With August being a particularly busy month with many Spanish taking their holidays during the month. As a rule of thumb most properties rent for a 2 week period, the properties being available for the first 2 weeks and the last 2 weeks. Rentals are slightly lower in July, we a good quality property renting for 1500€ for a 2 week period, with this price rising to around 1800€ for august.

For those not familiar with rentals on the Costa del Sol the ‘main’ holiday months for properties near the beach are July and August. Properties near golf courses tend to do better during the cooler months.

Of course, quality and size affects prices, but the figures I have quoted previously are for quality frontline properties. What I have seen is that there is an increase in demand for front-line properties that have pool and garage. With pool’s being particularly important for those with children (obviously) and garages for those that have driven to Fuengirola. The garage is more of a convenience than for security issues.

In previous years, many rental properties have been priced quite similarly, with a take it or leave it mentality. This has changed this year as tenants are being more cautious with their spending. Either demanding more for what they are spending or looking at larger properties to accommodate more people.

It has actually reached the point where we are now turning away potential tenants as we no longer have rentals available for the month of August. Understandably, with what everyone is reading about in the news about the ‘crisis’ they except to be able to walk into our agency and ask for properties to rent. Most seem quite surprised when I tell them there is nothing available, or at least that our agency has nothing available.

Believe it or not most of our rentals for august were booked up to 3 months in advance! This was not the case with July though with people turning up at our office looking to rent the same day.

We have also had quite a few people coming in now looking at long term rentals, which again is quite difficult as many of the properties are rented for the summer months or the owners are currently in residence for the holiday period. Again this is quite different from last year, when long term tenants did not really start coming into our office until a lot closer to September.

So although I am willing to bet this summer is going to be harder on the hotels that last year was, if you have a property that ticks the boxes for the holiday rental market, whether you are in Marbella, Torremolinos, Benalmadena of Fuengirola you should be able to rent it out relatively easily, if priced correctly. Also if you are looking at long term rental market, now could be a good time to start advertising as there are people already looking. I just recommend that you take a larger security deposit or several months upfront, as they could just be trying to get a better price for august and September.

If I seem to be rambling a bit more than usual its due to little sleep and lots of coffee.

Regards
Andrew Belles

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4 Responses to “Fuengirola property rentals”

  1. Schofields says:

    Good to hear about the demand, considering what the UK media is saying about the decline in tourists to the Eurozone.

    At first I thought the increase in demand could be put down to another ‘washout’ summer in the UK, but it appears these are walk-in enquiries into your agency? Are they mainly Spanish or tourists?

    Spain is still one of the top holiday destinations. Combined with sensible pricing, a good location and all the benefits that holiday rentals provide over hotels, hopefully tourism will rise again.

  2. Hi Schofields,

    mainly walk-ins. Both Spanish and foreign tourists. Few British all in all though.
    Had another family in today asking for a rental from today for 10 days. And I had to turn them away, saying that I might have something for them on monday…

    tourism will rise again, and with the Costa del Sol trying to become more than simply a summer/golf holiday destination I think future tourism to become more sustainable aswell

    Regards
    Andrew

  3. Bulova says:

    tourism will rise again, and with the Costa del Sol trying to become more than simply a summer/golf holiday destination I think future tourism to become more sustainable aswell

    All the best!!

  4. Hi Bulova,

    That is the hope/intent by many townhalls and the Junta. Its the reason for the extensions of the railways, airport, etc…
    I honestly beleive the the province of Malaga (Costa del Sol) is going to come out stronger thant before.

    Regards
    Andrew

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