A law for Andalucia only, which will come into effect before the end of 2014, is that no private property can be let regularly on a holiday basis without the property being registered and subject to specific levels of facilities and regular inspection. The registration number must be quoted on all adverts and there are fines of 2,000+€ euro for non-compliance. Whilst this will improve the quality of the letting market, it will also increase the costs and bring the perhaps previously casual use to the authorities’ attention. Some buyers may be dissuaded if the economics of their purchase depended upon such gross income, which may now be net of increased capital and income costs and taxes.
Campbell D. Ferguson, FRICS, is a chartered surveyor in Spain. His company Survey Spain Network arranges valuations and surveys by RICS chartered surveyors anywhere in mainland Spain and the Balearic and Canary Islands, and Gibraltar. This includes valuations, building surveys, structural surveys, building inspections and investment and development appraisals.