You may have already read it: Spain is introducing new rules around the tourist rental of properties. Explicit permission from the Association of Co-Owners (VME, the Spanish CoE) will often be required from now on. This news causes questions, but don’t be put off! Indeed, this underlines precisely why investing in NEW BUILDING can be extra smart.
Why is new construction a strategic choice, especially with these new rules?
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Fact 1: The Composition of the VME. In many existing complexes, people live permanently. They may have less interest or even be opposed to tourist rentals because of potential nuisances. Obtaining the necessary 3/5 majority for rental permission can be more difficult there.
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Fact 2: New Construction = Often Investors. In new construction projects, especially those we focus on, a large proportion of buyers are investors. Like you, their goal is often to rent out the property (in part) for a return.
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The Benefit: In a VME made up largely of like-minded investors, you are significantly more likely to get the necessary permission for tourist rentals. People understand the importance of rentals and are more likely to cooperate. You share the same goal!
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Less Risk: As a result, new construction projects often put you at less risk of a “no” from the VME compared to older complexes.
The headlines paint part of the picture, but the reality is more nuanced. Yes, the rules change, but with the right strategy and focus on the right projects, a second home in Spain for rental remains an excellent investment.
At Your Destinations Real Estate we know the market, the projects and the (new) rules. We can help you find the new construction projects that are not only beautiful, but where your rental plans have the greatest chance of success.
So, don’t panic, but navigate smartly!
Curious about the smartest investment opportunities in Spanish new construction properties? Contact us today for a consultation!
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