Spanish property investment in 2026: short-term or long-term investment? And why are more and more people choosing golf projects?

The first question most investors ask is not which city to buy property in, but:

How much money can you make?

But the answer is much more complex than simply looking at current rental rates.
In the Costa del Sol and Costa Blanca, it is not just rental yields that matter today, but also the tenant mix, the expected appreciation in value and the time and effort the owner has to invest in managing the rental.

Short-term expenditure - higher income, more work

Well-located apartments near the beach can generate outstanding income during the summer season. For some properties on the Costa del Sol, the returns from short-term rentals can significantly exceed those from long-term rentals, especially when occupancy is good.
In those cases, short-term rentals require more organisation:

guest reception,
cleaning,
key management,
maintenance,
occupancy management,
guest communications.

Many fear that all this would be difficult to manage from thousands of kilometres away. The good news is that there are a number of professional, reliable property management companies operating in the Costa del Sol and Costa Blanca, offering a full range of services to owners. These services typically include:

managing bookings,
arriving and departing guests,
cleaning,
coordinating maintenance tasks,
as well as liaising with guests.

For Feeling-Spain clients, we can also recommend local partners with whom we have worked and who are reliable long-term property managers. This allows the owner to enjoy the benefits of their investment from the comfort of their home, without having to deal with the day-to-day management.

Long-term spending - less return, more predictability

Investors who prefer a stable monthly income often opt for long-term rentals.
In many cities on the Costa del Sol - around Malaga, Estepona, Fuengirola or Benalmádena - there is a strong demand from foreign workers, digital nomads, retirees and international tenants coming to Spain for a longer period of time.
The advantage of long-term rentals:

computable income,
lower operating costs,
less administration,
less vacancy time.

Although returns are generally more modest, stability and predictability are more important to many investors.

By the golf course or the lively beach?

Our experience shows that this is one of the most important questions when looking for investment property.
Classic apartments close to the beach, restaurants, bars and entertainment venues are very popular with tourists, but tend to have shorter lengths of stay, higher turnover and more intensive use.
Modern apartment complexes near golf courses tend to attract a different target group:

golfing tourists,
retired couples,
digital nomads,
long-term foreign renters,
guests with higher budgets.

This does not mean, of course, that all golf properties are a better investment than all beachfront apartments, but experience shows that these projects often have a more relaxed environment, a more demanding tenant base and lower amortisation. It is no coincidence that international demand for golf developments has increased significantly in recent years.

Why do we like new build projects?

A significant proportion of our investment clients are now buying off the drawing board rather than buying a finished property.
There are several reasons for this.

Increased returns already during construction

With a well-chosen project, there can be significant price increases during the construction period. In many cases, the investor will offer more favourable prices at the start of the project than closer to handover, allowing the investor to realise value appreciation before taking possession.

Customizable home

New build projects often offer a choice:

flooring,
kitchen designs,
colour schemes,
extras,
home features.

This may be particularly important for those who want to enjoy the property for their own use later.

Lower maintenance costs

New-build apartments are constructed with modern technical content, energy-efficient solutions and modern warranty background. This means that there are usually far fewer unexpected expenses in the first few years than with a second-hand property.

What do we recommend to our investment clients?

There is no single answer that is perfect for everyone.
For those who want to maximise income and commit to more active operation, a well-located, short-term rental property may be the ideal choice.
For those who are looking for a longer-term perspective, a stable tenant base, a more relaxed operation and value growth, a modern, new-build project near a golf course is often a better investment.
The Feeling-Spain team therefore does not try to impose a single project on every client. We start by understanding the investment objectives, the time horizon and the expected return, and then use this to select the most suitable options from the Costa del Sol and Costa Blanca.
Because good investment doesn't start with finding the cheapest home, it starts with finding a property that can create long-term value for its owner.

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