More and more residents of the Valencian Community occupy an important place. income source. Although large investment funds or big magnates come to mind when it comes to price increases in recent years, the truth of the matter is that; Most of this work is in the hands of individuals. They are both the beneficiaries and the beneficiaries of the rise of tourist apartments.
According to the latest data from the Tax Office, 311,684 residents of the autonomous region declared income from this activity In 2021, the last year for which data are available, an increase of 5% from the previous year and almost Compared to the figure five years ago, 28% -68,000 more.
The increase is even greater in monetary terms. Of the 1.657 million euros this activity carried in 2016 – data refers only to individuals’ income as it comes from personal income tax – in 2021 2.273 million, 37% moreshows both the larger number of rental properties currently available and their higher prices.
In this sense, it should be noted that In just the last year, this figure has increased by 10%. and still doesn’t include the biggest rent increases ever in 2022 and 2023.
more control
Chairman of the Financial Committee of the Alicante College of Economists, Antonio PerezRovira He attributes this increase in rents declared in the income statement to several factors. The first – and no less – would be increased fraud control by the Tax Office, which uses increasingly sophisticated methods to detect properties that register activity, even though their owners guarantee that they are vacant. From electricity consumption to the passage of data from different taxpayers, there are several gaps that the Treasury does not monitor.
However, according to Pérez Rovira, there has been an increase in the number of citizens making decisions. put your savings in bricks make it profitable with rent, or even with what they choose to put on the market, even if it’s only a few months a yearproperties they already own due to the increase in tourist demand.
“I have clients in the summer. they go to their parents or a relative’s house and rent their own Considering the profitability achieved. I’m also talking about chalets in municipalities like Xàbia, which are not particularly well-located areas,” he says. Between 18,000 and 20,000 euros with this tactic, thanks to internet platforms in the summer season.
In every situation, middle figure The rates reported by taxpayers, while still significant, are much smaller. 7.295 € In the last year. In this sense, it should be taken into account approximately. Two-thirds of the rents declared to the treasury correspond to habitual residential dwellings. from their tenants. A less profitable method than tourism, a priori, offers significant advantages when it comes to taxation, because until last year the profits made in this way had a significant share. 60% cut.
Of course, with the new Housing Act, that rate has been reduced overall to 50%, but it can go up to 90% for landlords who agree to limit rents in stressful areas.
facilities, the most profitable
In this context, the latest report of the Idealista portal, in the city of Alicante cost effectiveness Reaching the average of those who decide to buy a home to put it in the traditional rental market 6.7%, It is considerably higher than the amount offered by banks. time deposits -The location of last April at 1.64%According to Eurostat- and more than twice 10-year Spanish bond. On the other hand, offices can achieve an efficiency of 7.8% and commercial buildings up to 8.3%. The least profitable investment in Alicante is parking spaces with “only” 4.9%.
Now it remains to be seen what the consequences will be. new housing law In the market. Some reports, such as the report presented this Wednesday by Tecnocasa, guarantee that the income cap and legal uncertainty created by the new regulations could pull as many as 100,000 homes across Spain, according to them. Other sources, however, point out that these homes have actually been converted into more profitable tourist rentals.
In the hands of middle-class taxpayers
According to the Tax Office’s latest personal income tax statistics, the majority of taxpayers – a quarter – who declare rental income in the Community of Valencia correspond to citizens with a total income of between 30,000 and 60,000 euros. Of course, the ones who earn the most from this activity are those with higher incomes, either because their properties are at a higher level or because they have more numbers, as it makes sense. Thus, while the average annual rental income is 7,295 euros, this activity is reported as 24,949 euros on average for those who declare earnings more than 600,000 euros per year.