Spain is one of the preferred locations for students. How is the rental marked influenced by that?

“Apartment for rent. Only students, preferably Erasmus. ”

This type of advertising is increasingly common in Spanish university cities, as the owners realize the advantages offered by renting their homes to foreign students who are only a few months in the country.

In fact, leading rental platform for student housing internationally, have quadrupled their activity in the last year in Spain.

According to a report of the HousErasmus+, 75% of international students visiting Spain stay in shared flats.
Each year, Spain receives 42,000 Erasmus students, which makes the country the favorite destination for European students. However, according to this same study, Spain is one of the countries that offers fewer residences for students, with only 90,000 seats compared to 375,000 in France or 113,000 in the Netherlands (a country that has almost three times less population).

In addition, the average price of these accommodations is high: around 650 euros a month for a room in public residences and about 800 euros in private ones. In contrast, renting a room in a student flat costs an average of 420 euros per month, so most foreigners choose this option.

Specifically, 75% of international students visiting Spain stay in shared apartments, 19% in studios or individual apartments, 4% in student residences and only 2% in family homes or other accommodations. These last options are used mostly at the beginning of the stay, as Erasmus often spend a few weeks in a residence or with a family while they find a shared flat.

The “ideal” tenants for landlords

For their part, Spanish owners are increasingly interested in renting their homes to foreign students, for various reasons. The main one is that they make short stays (an average of 3 months), compared to the 3 years of duration that has a conventional rental; they pay market prices or even slightly higher (422.06 euros per average room, although prices skyrocket in cities such as Madrid or Barcelona); and in general they are not conflicting. This allows owners to rent their homes with the flexibility of being able to dispose of them after a few months, adjust rental prices based on the evolution of the market to obtain greater profitability, and avoid problems such as those generated by rent tourist.

Here at Next Door BCN, we believe that Spain, and Barcelona in particular, is the favorite destination for international students and homeowners are realizing the potential that this segment offers”.

This, of course, has many other implications on the market prices.

What do you think about this topic?

 

Translated from http://bit.ly/2juHovj by Next Door Bcn

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