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Just 2% Of Residential Rentals Return to Tourism

Due to the pandemic, 20% of the tourist rentals in Spain switched to the traditional market. However, since January 2021, 2% of the residential rentals have changed back to short-term lets.

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The Covid-19 crisis has changed the rental market. A large part of short-term tourist flats was transferred to the traditional market due to the closure of borders, mobility restrictions and the low tourist demand.

A year ago, 20% of the tourist rentals in Spain switched to the traditional market after four months of the pandemic, right before summer. Since January of this year, 2% of residential rentals have reverted to the tourism market, according to pisos.com.

According to the company, the move “seeks to increase the profitability” of properties due to increased confidence in the revival of foreign tourism this summer.

In this way, the end of the state of alarm and the opening of borders have influenced some owners to increase their income through the tourist rentals.

Read the full article in Spanish

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