120 days
Personal use per year
5–7%
Typical net rental yield
15–20%
Typical management fee
150K€
Entry from
The Way People Buy Property in Spain Is Changing
For many international buyers, Spain has always been the dream: sunshine, beaches, golf, Mediterranean lifestyle, sea views and a place to escape to whenever life gets too grey back home.
But that classic model — buy an apartment or villa, use it for holidays, maybe rent it out from time to time — is no longer so simple. Especially for British and other non-EU buyers.
Since Brexit, UK citizens are subject to the Schengen 90/180-day rule: they can stay in Spain and the wider Schengen area for up to 90 days in any 180-day period without a visa. Owning property in Spain does not automatically extend this right of stay. The same logic applies to citizens of many non-EU countries, including Latin American nationals who visit Spain visa-free.
This has made many buyers rethink what they actually need from a property in Spain. Do they really need a second home that stands empty for most of the year? Or do they need a property that they can enjoy when they are in Spain — and that works as a managed investment when they are not?
That is where tourist apartments come in.
What Are Tourist Apartments in Spain?
Tourist apartments are fully managed properties designed specifically for short-term holiday rental. In simple terms, you are not just buying an apartment — you are buying a ready-to-operate rental asset inside a professionally managed complex.
These projects are created from the beginning with tourism use in mind. The building, licensing structure, furniture, services, management and rental operation are all designed to work together.
In most cases, the complex is operated by a professional management company that takes care of everything: guest bookings, check-in, cleaning, maintenance, pricing, marketing and customer service.
For the owner, this creates a very different experience from buying a normal apartment and trying to rent it out independently.
How Is This Different from a Normal Apartment?
A standard apartment in Spain gives you more personal freedom. You can use it when you want, furnish it how you like, and decide whether to rent it, keep it empty or live in it.
But if you want to rent a normal apartment to tourists, things get complicated. Short-term rental in Spain is increasingly regulated. Since 1 July 2025, properties advertised for short-term rental on Airbnb or Booking.com must have a national rental registration number. Local and regional rules also apply — in some areas, tourist rental licences are restricted or very difficult to obtain.
Buying 'any apartment near the beach' and assuming it can legally work as a holiday rental is no longer a safe strategy.
With tourist apartments in managed complexes, the rental model is built into the project from the start. The property is not just a private apartment you later try to convert into a rental business — it is part of a structured tourism operation.
Since July 2025, all short-term rental properties in Spain must be registered with Spain's national rental registry. Tourist apartment complexes already have this covered — individual apartments may not.
Why This Format Is Becoming So Popular
The main reason is simple: convenience. Many international buyers love Spain, but they do not want the stress of managing a property from another country.
A traditional second home sounds beautiful until the practical side begins.
- → Who opens the apartment after months of being empty?
- → Who cleans it before you arrive?
- → Who handles repairs and maintenance?
- → Who manages guests, keys, check-ins, linen, cleaning?
- → Who deals with reviews and online platforms?
- → Who pays the bills and deals with service providers?
For owners who live in the UK, Scandinavia, the Middle East or Latin America, this can quickly become a burden. Tourist apartments solve this by putting the property into a professional management system. The owner has the benefit of ownership, but the operational work is handled by experts.
A Practical Solution for British, Latin American & Non-EU Buyers
This format is especially relevant for buyers who cannot stay in Spain all year without the right visa or residency status.
For British buyers post-Brexit, the 90/180-day Schengen rule applies. For citizens of Latin American countries who enjoy visa-free access to the Schengen Area (such as Argentina, Brazil, Colombia, Mexico, Peru, Chile and others), the same 90-day limit exists.
So the question becomes very practical: if you can only use your Spanish home for part of the year, what happens during the rest of the year?
With a normal second home, it may sit empty while still generating costs. With a managed tourist apartment, the property can be rented out professionally when you are not using it. You still have a place in Spain. You can still come for holidays and enjoy the sun, the sea, the golf and the Mediterranean lifestyle. But when you are not there — it is working.
Latin American nationals note: citizens of Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Panama, Paraguay, Peru, Uruguay and several other countries can enter Spain and the Schengen Area visa-free for up to 90 days per 180-day period. Owning property does not extend this right, but a managed tourist apartment lets your investment work while you are away.
Personal Use & Rental Income: The Balanced Model
One of the most attractive features of many tourist apartment projects is the combination of rental income and personal use.
Depending on the project and management contract, owners may use the apartment themselves for a certain number of weeks or months per year — in some projects, up to four months annually. The rest of the year, the property is managed as part of the rental operation.
Fully Furnished & Ready to Operate
Another major advantage: tourist apartments are delivered fully furnished and ready to use from day one.
This is not only convenient for the owner — it is essential for the rental model. A typical managed tourist apartment includes furniture, equipped kitchen, air conditioning, appliances, lighting, bathroom fittings, decorative elements, and linen and rental-ready equipment.
For an international buyer, this removes a huge layer of stress. You do not need to fly to Spain to choose sofas, beds, curtains or kitchen equipment. The apartment is prepared to the standard of the complex and the expectations of holiday guests.
This consistency also matters for reviews, guest experience and rental performance.
Hotel-Style Amenities
Tourist apartment complexes often offer amenities closer to a hotel or resort than a standard residential building. This is a key reason these projects perform well in the holiday rental market.
Guests are not only renting an apartment. They are renting an experience.
For owners, this means the property can appeal to a wider audience: couples, families, golfers, remote workers, short-break travellers and seasonal visitors.
Location Matters More Than You Think
The strongest tourist apartment projects are in areas with clear rental demand: beach destinations, golf resorts, coastal towns, wellness areas, or locations near airports and major tourism infrastructure.
But the best projects are not only about being 'near the sea'. A good investment location needs more than one reason for people to come.
Beach demand is important, but so is year-round appeal. Golf, sport, wellness, restaurants, international schools, marinas, nature, cycling routes, events and easy airport access all help support occupancy outside peak summer months.
A property that only works in July and August is a very different investment from one that attracts guests across several seasons.
Income Models: Three Main Structures
Not every tourist apartment project works the same way. There are usually three main income models:
None of these models is automatically better. The right choice depends on your priorities: stability, flexibility, potential upside or simplicity.
Fixed Guaranteed Income
The owner receives an agreed amount or percentage, regardless of actual occupancy. Simple and predictable, but may limit upside.
Revenue Share
The owner receives a share of actual rental income. Can be more profitable in strong seasons, but income may fluctuate.
Hybrid Model
A minimum guarantee plus additional income if rental performance exceeds expectations. Combines security with upside.
Guaranteed Income: Attractive, But Check the Details
Some projects offer guaranteed rental income — very attractive for buyers who want predictability. Instead of worrying about occupancy or seasonal fluctuations, you receive a fixed or minimum income.
However, it is important to understand exactly how the guarantee works.
The number in the brochure is only the beginning. The real question is what you receive after costs, taxes and contractual obligations. Always get a net figure.
- ? Who provides the guarantee — the developer or the operator?
- ? For how many years does it apply?
- ? Is the return gross or net (before or after costs)?
- ? Are community fees included or separate?
- ? Are utility costs covered?
- ? What happens after the guarantee period ends?
- ? Can the operator change the terms?
- ? What happens if the management company changes?
What Costs Should You Consider?
As with any property investment, the headline return is not enough. Always understand the full cost structure before committing.
Some costs may be covered by the operator. Others remain with the owner. This is why every project must be reviewed individually. A good investment is not the one with the most beautiful brochure — it is the one where legal structure, costs, management contract, location and rental assumptions all make sense together.
- • Management fees (typically 20–40% of rental income)
- • Community fees (comunidad de propietarios)
- • IBI annual property tax
- • Utilities (electricity, water, gas)
- • Insurance
- • Maintenance reserve fund
- • Furniture replacement over time
- • Accounting and tax representation costs (for non-residents)
- • Income tax on rental profit in Spain
Tax & Legal Structure
Tourist apartments may have a different tax and legal structure from ordinary residential properties.
In some cases, the purchase may be subject to VAT/IVA rather than property transfer tax — and there may be scope for VAT recovery depending on the structure. Rental taxation and operator agreements should always be checked before signing.
For non-resident buyers, it is especially important to work with a qualified Spanish lawyer and tax adviser who understands both Spanish property law and the specific structure of tourist accommodation projects.
This is not a reason to avoid the format. It is a reason to analyse it properly.
IVA (VAT) on Purchase: 21% — and How to Recover It
One of the most important — and most misunderstood — aspects of buying a tourist apartment in Spain is how VAT (IVA) works on the purchase itself.
When you buy a newly built tourist apartment from a developer as part of a managed rental operation, the purchase is subject to IVA at 21% — not the standard 10% that applies to residential properties, and not the property transfer tax (ITP) that applies to resale properties.
This 21% may initially seem like a disadvantage. In fact, for investors who set up the structure correctly, it is recoverable.
This is a significant financial advantage compared to buying a standard residential apartment, where the 10% IVA (or ITP on resale) is a sunk cost with no recovery mechanism.
However, the structure must be set up correctly from the beginning. Once you have signed the purchase deed without registering as a VAT operator, it is very difficult to recover the IVA retrospectively.
This is one area where qualified Spanish tax advice before signing is not optional — it is essential.
In practice: on a €200,000 tourist apartment, the IVA at 21% amounts to €42,000. If you register correctly as a VAT operator, this amount can be fully recovered from the Spanish Tax Agency — typically within 6–12 months of filing. The condition is that you maintain the tourist rental activity for 10 years and file quarterly VAT returns throughout that period.
Obtain your NIE
Before anything else, you need a NIE (Número de Identificación de Extranjero) — the tax identification number for foreign nationals in Spain. This is required for all property transactions.
Register as a VAT taxpayer (Modelo 036)
You must register with the Spanish Tax Agency (Agencia Tributaria) as an economic operator using Modelo 036. This registers you as a VAT-registered business for the purpose of operating a tourist rental — not simply as a property owner.
Declare the IVA on purchase as deductible input tax
Because you are purchasing the apartment as a business asset for a VAT-registered activity (tourist rental), the 21% IVA paid on the purchase price is deductible input tax. You report it in your quarterly VAT return (Modelo 303) and claim the refund from the Tax Agency.
File quarterly VAT returns (Modelo 303)
From the moment you are VAT-registered, you must file Modelo 303 every quarter. You report IVA collected from guests (output tax) and IVA paid on costs (input tax). In the early period — especially the purchase quarter — your input tax typically exceeds output tax, generating a refund.
File the annual VAT summary (Modelo 390)
In addition to quarterly returns, you must file an annual VAT summary (Modelo 390) in January each year, covering the full previous year.
10-year compliance obligation
In exchange for recovering the IVA on purchase, the Spanish Tax Agency imposes a 10-year monitoring period. During this period, you must continue to use the property for the VAT-registered purpose (tourist rental). If you change the use — for example, using it exclusively for personal residence or selling it without transferring the VAT obligation — you may be required to repay a proportional share of the recovered IVA.
| Property type | IVA on purchase | Recoverable? | Note |
|---|---|---|---|
| Standard residential apartment | 10% IVA or ITP | Not recoverable | Lost permanently |
| Tourist apartment (new, managed) | 21% IVA | Fully recoverable | Subject to 10-year use obligation |
Who Is This Format Best For?
Tourist apartments are best suited for buyers who want a practical balance between lifestyle and investment.
✅ Ideal for
- Want a property in Spain but do not plan to live there full-time
- Are limited by visa or 90/180-day Schengen stay rules
- Want rental income without managing guests themselves
- Prefer a fully furnished, ready-to-use property
- Value professional management and hotel-grade amenities
- Are comfortable planning their personal use in advance
⚠️ Less suitable for
- Buyers who want complete freedom and flexibility
- Those seeking permanent residency (different legal route needed)
- Those who want full control over every detail of their property
Before You Buy: What to Check
Before buying a tourist apartment in Spain, always verify:
A New Way to Own Property in Spain
For many international buyers, the dream of owning in Spain has not disappeared. It has simply changed.
The new buyer is more practical. They want lifestyle, but they also want efficiency. They want to enjoy Spain, but they do not want an empty apartment creating costs while they are away. They want income, but they do not want to become a hotel manager.
Managed tourist apartments offer a modern answer to a simple question: How can I own a place in Spain, enjoy it when I come, and make it work for me when I am not there?
For many British and non-EU buyers — including Latin American citizens who visit Spain visa-free — the answer may no longer be a traditional second home. It may be a professionally managed tourist apartment.
