If you are looking to buy a villa at Polaris World to rent for investment income or simply to cover costs then you have a number of options available.

 

You are free to rent your property as you wish as you own it outright. There are no resort restrictions on renting. There are a number of ways to do this either through local agents or advertising yourself direct on the internet with local keyholders and cleaners based at the resorts.

 

As an example a three bedroom two bathroom Alcor Villa at El Valle resort which can be purchased for as little as €300,000 will typically rent in high season for over €800 per week. Apartments at La Torre are available from €120,000 with rentals on apartments typically €250 - €300 per week.

 

 

Summer 2011 has seen a high demand for villa rentals with a shortage of properties at El Valle and Mar Menor resort in particular. Other resorts such as La Torre and Hacienda Riquelme also do well for rentals. Unlike many coastal towns, renting is possible throughout the year at Polaris World. Due to the attraction of the golf the resorts are visited twelve months a year.

 

Mortgage interest rates are currently around 3.0% (August 2011) so the annual interest charge on a 70% mortgage on an Alcor Villa would be approximately €6300 - or seven to eight weeks rental to cover the interest.

 

Naturally there are other costs if running a rental as a business and trying to maximise the rented weeks but for anyone simply looking to rent their home to make a contribution to costs then 6-8 weeks rent in peak season if well managed can give a significant contribution towards your holiday home.

 

 

While many people look for cashflow as an essential ingredient when buying a golf property in Spain, we would always advise clients to buy a property they can afford and one for which rental income is not a necessity. If investors can treat rental income as useful but not essential then they are in a far better position to enjoy the use of the property. It also allows them to focus more on the long term capital gains available for buying in the current property market in Murcia. Properties are hugely discounted from their peak, many now as low as half price. Mortgage terms if buying a bank repossession are exceptional. The long term prospect for prices returning are excellent. The new international airport at Corvera opens in 2012 meaning many more regions across Europe will be in direct reach of Murcia. The Paramount Theme Park under planning in 2011 is expected to open by 2014 followed closely by the European wide fast rail network which will arrive in Murcia.

 

Call 0208 429 7115 for further details.