The acquisition of a property in Spain with the intention of renting it offered a gross profit of 4,6% during the second quarter of 2013, as informed by the website idealista.com.
According to the figures provided by the real estate website, the gross profit of a rented property in Madrid reached 4,2%, while this was of 4,1% in Barcelona.
Among the biggest cities in Spain, Seville is the one offering the best profit, with 4,4%, followed by Saragossa, with 4,3% and Valencia, with 4,2%. Bilbao and Valladolid are the least profitable big cities, with 3,9% and 4%, respectively.
From the rest of Spanish capitals, Lleida is the most profitable, with 6,2%. Las Palmas de Gran Canaria, Huesca, Alicante (4,7%, in all three cases) and Córdoba with 4,6%, follow. Cuenca, Badajoz and Huelva, with 4,5%, are behind.
The lowest profits can be found in A Coruña (3,1%), Ourense and San Sebastian (3,2%), followed by Lugo (3,3%) and Santander (3,4%).
“The prices of properties on sale and to rent are falling at different paces, while the selling price falls at a constant pace and everyone thinks it will continue falling, rentals are much more stable”, the chief of studies of idealista.com, Fernando Encinar, declares.
“It is true that the difficult access to credit is forcing many people to rent instead of buying, which is making the “buy for rent” more and more interesting, to negotiate the buying price of a property well in order to place it in the rental market”, Encinar concluded.