More and more overseas investors are approaching us looking for advice on how to buy for letting in Valencia and obviously to find the best performing property investments.
When viewing a flat in Valencia for investment purposes, it is very important to have experience about how the property would perform or not:
1.-) Do not think that having a property in a building with a lift is a must. You would be surprised by the high demand that properties on a 4th and 5th floor generate, and how good the rental yield is!
2.-) Check if in the staircase, even if there is not a lift, there is potentially space to fit one in the near future.
3.-) If you are planning to do “touristic rental”, keep in mind that restrictions in Valencia are high. Nevertheless, contact a property management service in order to find out the various options that you may have to rent a property, without having to be stuck to a long 3-year rental agreement with tenants.
4.-) Do not rule out properties that are not in a “prime location”. Location-location-location should rely on transport links, services and amenities. But it doesn’t mean city centre or prime area. The outskirts of the city is a good investment to buy for letting!
5.-)Every flat, when bought, needs an improvement… something to be done. A coat of paint plus change a kitchen or bathroom. Do not try to save as much as possible. Just refurbish and improve the apartment wisely.
6.-) Never accept an estimate to paint a whole flat of an average of 80sqm flat for more than €1.1k … that is too expensive.
7.-) Get a proper management company to run the investment for you. Specially to find the tenants. It is a hard job to filter potential tenants, doing the viewings and after the paperwork. Also, you need to file rental income in Spain… The right service would do that for you.
Contact us for more information