Looking for a foreign home that you can let easily to holidaymakers? New research reveals just how popular privately rented properties are on Spain’s Costas, a country that attracted more than 27 million tourists last year…

Owners of second homes in Spanish hot spots should have little difficulty attracting holiday lets, according to a new report that shows a hefty 14 per cent of tourists in Spain stayed in privately rented accommodation in 2014, spending a total of more than €2.6 billion during their stay.

Also encouraging is that nine out of ten people who stayed in a holiday rental last year said they use this form of accommodation whenever they travel in Spain, with a large majority of these tourists (79 per cent) being foreign. These findings came to light in a recent report by a leading Spanish business school (ESADE) in collaboration with the Spanish Federation of Tourist Homes and Apartments (FEVITUR) and a market intelligence firm.

The importance of holiday rental websites was also revealed: 98 per cent of tourists who used a holiday rental in 2014 said they booked their accommodation on-line.

What tourists considered ‘ideal accommodation’ was also researched, with good value for money and a good location priorities. Other popular preferences were an apartment that has a kitchen (84 per cent) and makes them feel at home (67 per cent).

“We were able to confirm – for the first time in Spain – that holiday rentals are at the forefront of today’s great global trend of collaborative consumption,” said a spokesperson at ESADE. “Foreign families are looking for a cosy and practical place to stay, and they are spending money at local restaurants and shops. They recommend the experience and place great value on their interaction with the owner. The money they spend during their trip goes into the hands of an individual rather than a corporate chain.”

Two out of three tourists who used holiday rentals said they signed a contract with the owner or management company, and a majority said they were informed of the rules of the house and the homeowners’ association as soon as they checked in.

Elaine Ferguson, Head of the Resource Centre at OverseasGuidesCompany.com, added: “Most of the people we help purchase in Spain intend to rent out their property, so we steer them towards properties that are in established resorts, for example along the Costa Blanca and Costa del Sol, have good facilities – ideally with a private pool or access to a communal pool, are close to restaurants and amenities, including golf, and the beach, have short transfer times and are easy to maintain.”

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