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Spain Property Investment News
Lifestyle buyers 'will branch out'
People who have bought a lifestyle property abroad have been tipped to start using their home as an investment.
According to Greg Grant, managing director of Holiday-Rentals, many property owners are being forced to tighten their belts in these times of economic uncertainty.
As a result, he believes that some will decide to make the best use of their assets by renting out their holiday home to tourists.
This would generate extra wealth to both supplement their income and cover the cost of maintaining the property.
Speaking to the Telegraph, Mr Grant commented: "A month's rental can, if timed well, pay for much of a year's running costs on a home."
He added that renting has not suffered a downturn, especially as many families find it cheaper than booking hotel rooms.
According to figures from Holiday-Rentals, Spain is currently the most popular market among rental investors, as almost one in three British-owned properties in Europe are located in the country.
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