This forum is dedicated to connecting hosts with other hosts. Sign up to get the latest updates and news just for AirBnb hosts! Note that we are not affiliated with Airbnb - we are just passionate hosts!
I have been considering the option of buying a property in Europe (I am European…so there will be no complications when it comes to signing the papers).
I have been looking for something in an area full of tourism so that I could rent the place out on airbnb in the summer or throughout the year (the latter would be ideal).
So far I have been checking out such places in Spain and Cadiz, Menorca seem to be great options, but I wouldnt mind something in the south of France or in Italy.
Can anyone share some information with me regarding their experience on such matters?
I can only advise on France and Portugal. In neither country would you find a property that is in a tourist area and is habitable for 50K euros. You would find many money pits however. The tourist season in France is short, whilst Southern Portugal (Algarve) is longer, stretched by the many winter golfers.
Thanks a lot. I was considering Portugal too, but Spain is my safest bet since I have been learning Spanish for 8 years (so, they wont surely swindle me).
I’ll check out the places in Southern Portugal. Cheers.
Would suggest looking at the areas around/behind Tavira on the Eastern Algarve. Very close to Spanish border and the languages are v similar. Except for pronunciation; Portuguese sounds Russian!
Yes, it is, particularly with winter golfers from N Europe. Summer is very busy, particularly August when N Portugal moves South for their hols. But before you start looking at occupancy stats, you need to look at what you can afford to buy, what the competition is, what markets you can go for. Search Rightmove for properties for sale in the Eastern Algarve.
This is a question better asked of a real estate agent in the local area you are looking at. Local laws vary and are changing daily with some severely restricting STRS and some banning them outright. Airbnb is not a get rich quick scheme.
Stop thinking "I want to buy a property cheap and make a tonne of money renting it out on AirBnb!!! That’s what we call a “slum landlord”.
This is not a “get rich quick scheme”!!
If you cannot think "I want to buy a property and manage it so that my guests have a wonderful experience, then perhaps you should look somewhere else to invest your money with a Nigerian prince!
Thanks for telling me what to do and thanks for telling me how to run a future, non-existing airbnb home. I am here to find information on how these things work. I didnt even know of the terms slum landlord and the get rich quick theme. Now I do.
This is a forum of hosts all over the world and experiences will vary greatly. As you are a new member here take some time to read through the many posts with helpful information if you have not already done so. Many hosts here have owned their properties long before Airbnb existed and it is just another rental platform for them. The kind of information you need is better sourced locally.
Makes perfect sense. I am working abroad in Asia atm…so, that is the next step. I will certainly move to a place probably in the south of Portugal (since I want to learn the language) and take it from there.
I don’t think the Portuguese government is going to crack down on STRs on the Algarve any time soon. The country is very dependent on the tourist economy, particularly after the 2007/8 crash and IMF austerity measures. Plus the property market is safer than that of Spain, with far less corruption. Taxes are high though, and you have to register a rental with the local Camera i.e. Council to be legal. There is a huge amount of competition right across the market in all sectors and not just from Airbnb. 20-30 years ago people could get away with letting out crap properties; dodgy furniture, cranky door handles that fall off, poor water supplies. Since joining the EU, the country’s infrastructure has improved vastly but they have seen themselves impoverished as N Europe sold them stuff they couldn’t afford, with the Common Agricultural Policy decimating small farmers. I’ve seen fruit rotting in orchards because it costs more to harvest than to sell, and have Portuguese friends doing three jobs to make ends meet. But the wine has improved, the people are lovely and the country is beautiful.
Me too!! Especially on a €50k investment! When we first purchased in Barcelona we were getting 15%+ cap rate, but since home value have risen significantly and rental income is only up 10-15% yr/yr we are closer to 10%
