number of brits renting out property abroad is increasing
News Posted On: 02 July 2009
A growing number of Britons are opting to rent out property abroad during the economic downturn, an expert has claimed.
Dennis Klett, co-founder and director of online holiday home marketplace Domegos.co.uk, said many people are opting to rent out homes in European countries, such as Spain, to minimise the adverse effects of the economic downturn.
"Europe has been a huge market for a long time," he commented.
"With people who already did it [rented out holiday homes], they continuously try to market more and more on the internet," Mr Klett added.
He said that one of his company's strongest markets at the moment is Spain.
Now could be an ideal time to buy property to rent out, particularly as property prices in Spain have been steadily declining in recent months.
According to Paul Bradley, a spokesperson for the Spanish Property Owners Guild, prices have not yet bottomed and they are likely to fall by seven per cent this year.
Written by Matthew Bonner
Back to news articles for this country
Latest Related News Articles in Spain
Girona Property Market Bucking the Trend
2012-01-31
One of the best performing property markets in Spain is Girona, according to independent research fr.....
Banks Offer Amazing Deals on Repossessed Properties in Spain
2012-01-10
In an attempt to reduce the amount of repossessed property on their books, Spanish banks are offerin.....
Foreign Buyers Being Tempted by Spanish Bargains
2012-01-07
Sales of residential property to foreigners living in Spain increased by 24.7% during the third quar.....
Will 2012 be the Year of the Spanish Recovery
2011-12-29
Spain crashed harder than most, and now going on for four years into the down cycle Spain has a moun.....
Ryanair Launches Dozens of New Spanish Flights for 2012
2011-12-21
Ryanair is planning to launch dozens more flights from the UK to Spain next year, due to traffic gro.....
Spain Property Good to Firm in Places
2011-11-29
It is getting harder and harder to doubt that the Spanish property market is seeing a recovery of so.....
Spain Property Experts Hopeful of New Stimulus Package
2011-11-22
Spanish property experts are hopeful that the recently elected government will quickly enact stimulu.....
Majorcan Property Market Looks Set to Remain Steady
2011-11-11
The property market in Majorca has performed relatively well this year, with sales well up on last y.....
Doubts Over Spanish Land Registry Plan to Make Info Available in English
2011-10-31
Making Land Registry information available in English could make matters worse for the Spanish prope.....
Prices in Spain Continued to fall but Luxury Property Performing Better
2011-10-25
According to the house price index from Tinsa, average residential property prices have dropped by 7.....