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I am in the process of selling a property in the UK that I have been renting out. I would like to buy an apartment in Corralejo to rent out and also to use for me and my family. Would I get a good return on my investment as the community fees, electric, water, management costs, tax at 24,% seem to be putting me off. Also would I be restricted to the amount of weeks I could use the apartment.
Posted: Mon Jul 25, 2022 7:49am
Helpful member
I presume you are a non-resident and hold a British passport? Then, yes, you would be time restricted and have to abide by the 90 in 180 days rule.
As for getting a good return, that's anybody's guess and too many variables. Did you buy at a bargain Price? Is it in a popular area? Is it in the 'right' price range that's popular, etc.etc.
You must also remember that, as a non-resident, you would not be able to claim expenses on your apartment and have to pay tax on the whole income.
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