Spain

Benicasim

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Real estate insights for Benicasim

AspectSummary
Gross YieldTypical gross yield ranges from 5% to 8% for rental properties.
Rental DemandStrong demand due to proximity to beach and festivals; especially in summer.
Average Rent PriceAverage monthly rent is around €800-€1200 for a 2-bedroom.
Vacancy RatesVacancy rates are approximately 5%-7%, indicating healthy demand.
Tenant Turnover RateTurnover rate is around 30%, driven largely by seasonal rentals.
Operating ExpensesOperating costs estimated at 25%-30% of rental income including maintenance.
Regulation and Rent ControlLimited rent control; regulations vary based on property type.
Furnishing/Unfurnishing RateFurnished properties attract more tenants; 70% are furnished.
Short-Term vs. Long-Term Rental MixShort-term rentals make up about 40% of the market.
Local Economic IndicatorsStable economy; tourism boosts local employment and spending.
Rental Price TrendsRental prices have increased by 3%-5% annually in recent years.
Lease TermsTypical lease terms range from 6 months to 1 year.
Deposit RequirementsDeposits are commonly 1-2 months' rent.
Utilities and Other CostsUtilities average €100-€150/month; varies by property and usage.
Safety and SecurityGenerally safe; low crime rates noted in residential areas.

Benicasim FAQ

  • What is the average rental price for apartments in Benicasim?

    The average rental price for apartments in Benicasim varies widely depending on location, size, and proximity to the beach. Generally, one-bedroom apartments can range from approximately €500 to €800 per month, while two-bedroom units typically fall between €800 and €1,200. For example, a one-bedroom apartment closer to the beachfront may cost around €700, whereas a similar apartment located a bit further inland might be available for about €550. In high-demand periods, such as the summer months or during music festivals, prices can increase significantly, with some listings exceeding €1,500 for larger or more luxurious accommodations. It's also common to find furnished apartments at higher rates compared to unfurnished ones, reflecting the added convenience.

  • How do rental prices in Benicasim compare to nearby towns?

    Rental prices in Benicasim tend to be higher than those in nearby towns like Torreblanca and Castellón de la Plana, largely due to its beachside location and popularity as a tourist destination. For instance, a one-bedroom apartment in Benicasim averages around €600 per month, while similar properties in Torreblanca might be found for approximately €450. In Castellón, the prices can be even more affordable, with rentals sometimes dropping below €400 for comparable accommodations. The demand for holiday rentals during the summer months further inflates prices in Benicasim, making it less appealing for long-term renters compared to nearby areas. Though neighboring towns offer more competitive pricing, Benicasim's vibrant atmosphere and coastal appeal justify its premium in the real estate market.

  • Are rental prices in Benicasim higher in summer?

    Rental prices in Benicasim do tend to spike during the summer months due to an influx of tourists drawn to its beautiful beaches and vibrant festival scene. For instance, a beachfront apartment that may cost around €800 per month in the off-season can see prices soar to €1,500 or more during July and August. Properties close to major events, such as the FIB (Festival Internacional de Benicàssim), often experience even steeper increases. It's not uncommon for small holiday homes to rent for €1,200 weekly in peak season, compared to just €400 during the winter months. This trend reflects the general demand for holiday accommodations in coastal towns in Spain during peak tourist seasons.

  • What factors affect rental prices in Benicasim?

    Rental prices in Benicasim are influenced by several key factors. Location plays a significant role; properties closer to the beach or with sea views tend to command higher rents, especially during the summer months when tourism peaks. Additionally, the size and type of the accommodation impact rental rates—luxurious villas with private pools are priced significantly higher than smaller apartments. The seasonality of demand also affects prices; rentals may be markedly higher in July and August compared to the off-season months of winter. The local economy and job market can influence long-term rental prices, as a robust job market may lead to increased demand for housing. Finally, amenities such as proximity to restaurants, shopping centers, and transport links can further elevate rental values in certain areas of Benicasim.

  • Is it cheaper to rent a long-term property in Benicasim?

    Renting a long-term property in Benicasim is generally more affordable compared to renting in larger Spanish cities like Valencia or Barcelona. For instance, a two-bedroom apartment in Benicasim might cost around €600 to €800 per month, whereas similar accommodations in Valencia could range from €1,000 to €1,500. The town also offers a variety of options, from modern apartments near the beach to more traditional houses in the town center. Furthermore, utilities are typically lower due to the milder climate, which reduces heating and cooling costs. In addition, the slower pace of life and smaller size of Benicasim mean that costs related to daily living, such as groceries and dining out, may also be lower than in bigger cities.

  • What are the typical extra costs associated with renting in Benicasim?

    When renting in Benicasim, tenants should be aware of several typical extra costs that can significantly impact their budget. One common expense is the community fees, which cover services such as maintenance of shared areas, swimming pools, and gardens, often ranging from €50 to €200 per month. Additionally, utilities including water, electricity, and gas can add up, with monthly costs averaging between €100 and €150, depending on usage. Internet and mobile services also represent an extra cost, typically around €30 to €50 per month. If the rental property is furnished, there may be an additional charge for the furniture, or the tenant might incur costs for insurance to cover potential damages. Lastly, it’s not uncommon for landlords to require a security deposit, usually equivalent to one or two months' rent, which is payable upfront and can be a substantial initial outlay for renters.

  • How often do rental prices change in Benicasim?

    Rental prices in Benicasim can fluctuate quite significantly throughout the year, primarily influenced by seasonal tourism trends. In the peak summer months, particularly July and August, prices tend to soar as visitors flock to the beaches and festivals, with some properties seeing increases of up to 30% compared to off-peak rates. For instance, a two-bedroom apartment that might rent for €800 per month in the winter can easily jump to €1,200 during the summer. Conversely, during the colder months, especially from November to March, rental prices generally decrease, with landlords often willing to negotiate to attract long-term tenants. Additionally, the local real estate market is also affected by broader economic conditions and changes in the rental demand, which can lead to adjustments in prices being more frequent in certain years. For instance, in the past few years, there has been a slight increase in demand for long-term rentals due to an influx of remote workers, which has caused some rental prices to gradually rise even outside the peak season.