Renting vs. Buying Property in Spain

If you are thinking about moving to Spain and are unsure to buy or to rent a property you can in this guide find some useful information about the differences between renting and buying a property in Spain.

Renting a Property in Spain
There are in Spain two different types of rental contracts, short term rentals including holiday rentals of up to one year and long term rentals of one year and above.

The main difference between the two types of contracts is the protection that the renter receives. In short term rental contracts the owner of the property have more rights to for example inspect the property and it is also easier to get rid of the tenant if for example the rent is not paid.

In long term contracts the tenant have more rights and is better protected. For example the owner of the property does not have any right to inspect the property (unless a writing permission is given) and it is also more complicated for the owner to cancel the contract even though the rent is not paid.

Renting or Buying a Property in Spain
The first thing we can recommend if you plan to move to Spain is to rent a property in the area you will like to live permanently for a few months.
Many people that have only been visiting Spain on vacations go out and buy or sign a long term rental contract without really knowing the area and end becoming disappointed as there is a big difference between visiting an area on a two week vacation and living in the area for a longer period.

By starting with renting a property for a couple of months you will get to know the area much better as well as other areas next by and might decide to finally look for a property in another place (for further information about short term rentals see the section holiday rentals or click here for a list of properties available for short term rents).

If you are sure about where to stay and just have to decide between either buying or renting a property the question is of a more economical character.
At the moment due to the huge oversupply of properties in Spain you can find properties at very attractive prices but it also means that you will have problems selling the property again, at least within the next 5-10 years.

If you are not planning to sell the property within the next years and have the money (or at least a big part of the money as it is also difficult get mortgages in Spain) then it can be good idea to buy a property.

On the other hand if you are not sure how long time you will like to stay in Spain then you will properly be better off with renting a property instead of buying one.