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Buying a rental in Malaga area

Last activity 01 November 2011 by roughseasinthemed

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baba

H, I am thinking about moving to the Malaga area, I would like to buy an apt or small house that I could rent out in the summer season. Can anyone who lives in Malaga area give me some pointers of what would be the best area to begin to look into. I would want a place that has a need for rentals in the summer, as I do not want to buy a place that not many tourists are interested in renting. I know this is a lot to put out there, but I thought I would just give it a try, as it is best to ask people who are living in that part of the world.
Thanks a lot:)

roughseasinthemed

A seafront apartment (two or three bed) is your best bet.  Unless you can afford a seafront house of course.

A few years ago apartments were totally booked up over the holiday season (end June to early Sept).  But with the downturn in the economy, rentals, like everything else, have suffered from shortage of money.

Be very careful where and what you buy. 

In terms of particular areas, it really depends what you like.  Going down the coast, your options are Nerja, Torrox Costa, Torre del Mar, Torremolinos, Fuengirola, Benalmadena, Marbella (and urbanisations to either side), San Pedro, Duquesa, and Estepona.  There are obviously smaller places inbetween but those are the most popular.

And don't use the gestor or abogado provided by the estate agent.  They are not working for you they are working for the agent, so get your own independent one.

baba

Thanks for getting back to me what do your mean (don't use the gestor or abogado provided by the estate agent.  They are not working for you they are working for the agent, so get your own independent one.)
Thanks for your quick reply.

roughseasinthemed

The estate agent may offer you the use of a FREE gestor or abogado (lawyer) for the legal side of purchasing a property.  They will not be acting in your interests as you are not paying them.  Simple really.  They are acting in the interests of those selling the property. If you pay for your own, then they will be acting in your interests and will discover - hopefully - any potential problem areas, that may stop you buying the property.  For example, the property not being legally built and possibly may be about to be knocked down. Or there may be debts outstanding on the property.  or  .. or ..or  Caveat emptor.

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