Renting a house in Spain (Sponsored contribution)
Same house, different prices. Trying to rent a property can get quite frustrating especially if you are new to the country.Finding a home is usually quite frustrating for an expatriate and even more so in Spain where there are less properties for rental.
Taking Madrid as an example, the rental market is quite undersized in comparison to other European cities. It is made up of only 300,000 properties, which represent less than 15 percent of the total housing market (14.9 percent first quarter 2007 – Municipal Housing Bureau).
In other European countries this figure is over 50 percent. Some specialists suggest that is due to the “proprietorship culture” which is widespread in Spain, originated by the lack of mobility of the Spanish labour market.
It is difficult to classify neighbourhoods in Madrid, as there are substantial variations of in the quality and price of properties within each area. There is however, a greater concentration of nationalities near international schools. Over the last 20 years, many buildings with communal gardens and pools have been developed, as well as town houses, or semi-detached properties in gated communities.
The monthly rental price is generally established by a landlord who usually does little or no market research and bases it on his particular view of the market. Therefore, you may find similar properties priced quite differently. There is no correlation between the purchase price, the size, or the location whatsoever with the rental price.
Home search can also be done through real estate agents as there is no multiple listing in Spain. Each realtor offers its own properties. In order to get a view of the market, several agents need to be contacted. You may discover that you receive the same offers from all of them and each one with a different price! Commission to real estate is paid by the Lessee.
You can also try home searching on the web, where you will find both direct and real estate offers. However, bear in mind that a direct offer does not necessarily mean that you will be able to avoid the commission fee payment, as there is no regulation in force related to commission charging.
If the hassle of house-hunting is too overwhelming, you will be pleased to learn about the home finding programme offered by Paragon Relocation Spain.
The home finding programme provides expatriates with tools that empower them during the house-hunting process by providing appropriate information, guidance, and materials to ensure a successful and worry-free move.
Paragon Relocation Spain is 'the' relocation service of choice for people moving abroad. Their innovative programmes, support and customer service have made them the first port of call for the families they have relocated all around the world.
Paragon Relocation Spain is part of the Paragon Relocation family – an international company with global presence in 120 countries
For more information about Paragon Relocation visit www.paragonrelocation.com
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