Mr Sparkle
Registered User
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Mr Keane, The property price wasn't negotiable in my case, the seller had fixed prices on the different areas of the complex (which has a tourist licence)
I believe the complex does not have a tourist licence. What limits does this impose on the property in terms of holiday rental?
Britons who have invested money in the property market in Spain on a buy - to - let basis could face problems after the Spanish tourism and tax authorities have cracked down on unlicensed apartment and villas.
A spokesperson for the Spanish Ministry of Tourism said “Nearly all are not licensed, which means letting them to tourists is illegal.”
One buyer from St. John’s Wood Said, “ I wanted the flat as a buy - to - let investment and the developer’s sales director told me it had excellent holiday rental potential of up to £800 a week in high season. So I bought it with a mortage from a Spanish bank.” After I’d completed the purchase early last year I put the apartment on a holiday rentals website and was overwhelmed with the inquiries from the UK. Very quickly it was booked solid for nine months.” But I was suddenly called to a meeting with the head of the community residents association and he spelt it out in the bluntest terms that the development was unlicensed and we would be reported if we continued to offer our flats as holiday accommodation.”
“We had no idea the development had to be authorised for tourism use and we were all relying on the lettings income to pay of our mortgages, I immediately pulled my apartment of the website and put it up for sale. But this didn’t stop one vindictive neighbour from informing on me to the authorities. Now I’ve been hit with a £20,000 fine - far more than I ever made from the lettings - but I’m hoping to get it reduced on appeal.”
Sabastian Stalter, a property lawyer said, “The rules governing holiday rentals are particularly tough in the most popular tourism areas. So British buyers must be extremely careful if they seek properties for buy - to - let investments because the experience can be a painful one if they have not checked out the pitfalls in advance.”
“Many developers don’t give accurate information about what their properties can be used for and it’s very rare that apartments are licensed for tourism.”
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