08 Oct The Airbnb Effect: Why to Invest in Real Estate Now
Sun, seaside and sangria. It is no wonder almost 9 million people visited Barcelona in 2017 alone. But as the tourist industry grows from strength to strength, so too do the voices of the opposition. Airbnb is a big thing nowadays, so lets take a closer look.
Tourism undoubtedly brings a steady stream of income to those living there. However, it has also become a source of growing resentment for locals. Residents are battling ever more against those coming to experience all the city has to offer. Now, to achieve a more harmonious relationship, the council has taken to banning Airbnb (amongst other beneficiaries of the industry) in the city for properties without a tourist license. We reported on this first in 2017 in a blog post. Since then, Barcelona has certainly taken a stronger line in their implementation of strategies to combat tourism overwhelming the city. Measures include fining the website for listing unlicensed apartments, accessing the database of apartments listed and levying a higher tax on these holiday rentals. So, what does the increased regulation mean for the Barcelona real estate market today?
What is the effect of this for owners?
Whilst the high prices offered by holiday rentals may initially seem desirable, it is important to recognise their nature. Owners must keep up with the ever changing tastes of the consumer market, the seasonal variations, and regularly upkeep their property. A chance to profit from more stable and guaranteed income without any hassle has led to more and more owners wanting to put their properties up for long term rent. Why not join them by contacting us here at Casamona?
With more properties on the market, the good news is that now is the perfect time to snap up the property that you love! Long term renters such as students and professionals are now advantaged by the greater choice and less volatile prices. The number of affordable long term rentals is on the rise, so you can find your perfect home in the city. Furthermore, all this regulation eliminates the risk of being turfed out of an apartment holding an illegal licence and securing a safe stay in the city.
Prices have decreased for properties for rent and so too have those for sale. Therefore, use the Airbnb effect to your advantage and find your dream property for sale in the heart of Barcelona. This is a great time to invest in a vibrant city, be it permanently or simply for a European base.
How can we help?
To find your perfect spot, without the risk of choosing an illegal apartments, have a look at our listings here. And if you are an owner, we can help list your apartment for sale or rent completely hassle free. Just email us HERE. For those wanting a short term rental, have look HERE. This will provide you the short term accommodation you need whilst ensuring you are staying in safe and legitimate flats.