Monday, July 1, 2024

Freyke Van Looveren in HLN: Renting out your dream villa

In an interesting HLN article, Kees and Dominique talk about renting out their dream villa on the Costa Blanca North. The idea that they are using their property for holiday rentals to earn a nice amount of extra money piques curiosity.

Article about Kees and Dominique's Villa

According to the article, Kees and Dominique have found their dream villa in Benissa, Spain. The fact that the villa was built by a Belgian gave them confidence in the quality of the house. The property boasts spacious amenities such as an outdoor kitchen and a swimming pool, making it not only a comfortable home but also an attractive option for holidaymakers.

Financially, renting out this villa turns out to be a lucrative move for the couple. According to them, renting the villa for just 7 nights can bring in as much as 2,880 euros. This sounds like an attractive return on investment in real estate, especially in a popular holiday destination on the Costa Blanca.

However, Freyke Van Looveren from Nieuwbouwinspanje notes that renting out a property also comes with administrative responsibilities. Freyke points out that rental income must be declared, with 19 percent tax to be paid. This is an important aspect to consider, especially for those who want to buy and rent out a second home abroad.

Furthermore, Freyke explains that there are additional costs associated with purchasing a second home on the Costa Blanca. For example, there are transfer taxes or VAT upon purchase, annual property tax (IBI), and garbage collection fees. These extra costs need to be factored into the total cost calculation of owning a holiday villa in Spain.

The story of Kees and Dominique provides an interesting insight into the dynamics of the real estate market and holiday rentals on the Costa Blanca. It shows that with the right investment and a good management plan, owning a second home can be financially beneficial while also creating wonderful memories at your favorite holiday destination.

Source: HLN