Landlords Reluctant to Drop Rental Prices on Spain

Landlords Reluctant to Drop Rental Prices on Spain

News in del Sol

The Costa del Sol in Spain is still experiencing a massive drop in tourists visiting what was once Europes favourite holiday destination.

There was much excitement recently as the EU and the UK agreed to scrap the so-called “air bridges” that we’re going to apparently assure the safety of travellers between “green zones” across the globe, almost 70 countries were included in the list, so was Spain.

Bearing this in mind, and also the fact that Uk schools are seasonally closed, where are the tourists? This lack of sun-seekers has a massive knock-on effect of every part of society, with no work people can’t pay their rents, with no rental income landlords can’t pay their mortgages- so why don’t just lower the rents?

The fact is, they, the landlords, have expenses too and will accumulate overdraft charges on their loans, some rely on the rental of their properties to provide an income in Spain so whatever they do will lose them money.

Should landlords lower rental prices?

A local costa del sol resident took to social media, which is full of debate on the subject, to express his concerns over rental prices.

Jamil-Facebook said:

“I’m just waiting for all the rentals to go down in price as everyone including any tourist has not much money and hardly anyone has a job so good luck to all of you landlords and landlady who think there gonna get extortion prices after a world collapse also no one has 3 months deposit so yea good luck and all will have to change so I’m just waiting for the prices to collapse because greed is not gonna work if you ask me rental need to come down by half and the 3 months deposit needs to be removed then and only then will the economy start getting better ok rant over.”

Unemployment in the province of Malaga rose by 4.7 per cent in April, compared to the month before, resulting in approximately 8,683 more people laid off last month. Tourism and hospitality accounted for the majority of those job losses (approximately 6,794), followed by construction, Junes figures are expected to be released soon.

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