In our
previous articles we explained, that because of the crisis, has changed the profile of the people who rent their homes. We also said that, in many cases,
the apartment owners do it to survive, because if they rent their home, theowners get extra money to help them pay their mortgage and to offset that
income they once had and now not and they need it more than ever.
We also
talked about which has grown enormously in demand for this type of seasonalrental. More people, prefer to be more travellers than tourists, and want to
know the place they visit thoroughly, living the experiences the local people
have. Renting an apartment instead of a hotel room, offers many advantages ,
mainly more space and freedom , and more amenities.
This,
coupled with the increasing availability of websites offering holiday
apartments for days, weeks and months, has favored the increase in this form of
travel.
But to
fully understand this change, we can´t forget the price factor.
The price
plays a key role in this dramatic increase in demand for rental apartments. And
the fact is that the prices have dropped significantly.
If we
compare the prices at which the apartments were rented in Madrid (but not only
in Madrid) 4 or 5 years ago with the prices that are now offered, we see that
although the cost of living has risen sharply, the apartments are rented much
cheaper.
But, are
they really cheaper?
Madrid Glorieta Bilbao 2 Apartment
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Yes! We,
that started this activity from 2004 in Madrid for Rent, we can assure that
prices have fallen by up to 50 %!
More
Apartments for rent short term? Higher quality at a lower price?
It seems
incredible, right? But it's true!
We could
think that the apartments offered are of lower quality. But it is not like
that: it has also increased the quality and equipment of the apartments.
Madrid Glorieta de Bilbao Apartment
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So how does
explain this fall in apartment Rental prices? Very simple: the competition has
increased. Demand has grown, yes. But as the supply is so large, the owners
have been forced to lower their prices, while offering higher quality. It's
just the law of supply and demand ... in times of crisis.
Of course,
not all apartments are the same, not all offer the same level of quality, or
cleaning . And not all owners offer the same level of attention.
And this is
the subject of the next article. See you!
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