What You Need to Know About Owning a Property Abroad

Enter our Marbella Superdraw for your chance to win this £2,000,000 holiday villa on Marbella’s prestigious Golden Mile with £250,000 in cash. Your entries will help Teenage Cancer Trust to safeguard the lives of young people with cancer, ensuring that the disease does not damage their future. 

Omaze Marbella Superdraw - Holiday Villa Pool

We know that winning a holiday villa abroad will likely raise questions about the practicalities of visiting regularly, living in it or renting it out. Questions such as ‘how often will I be able to visit?’, ‘can I live in Spain permanently if I want to?’ and ‘what are the tax implications of renting or selling the villa?’ may arise. The answers will depend on your personal circumstances, so we felt the best thing was to make sure that we support you in finding the right advice and help you to cover any costs, whether you choose to move in, rent out or sell up!

That’s why we’re giving away £250,000 with this villa - so you can do whatever you need to do to make it work for you. In addition, we’ll also cover up to £5000 in tax advisory costs to make sure you’re fully informed and can make the best decision based on your situation and preferences.

Let’s look at the options more closely. 

Move In 

It’s possible to apply for Spanish residency, which would allow you to move into your Marbella villa permanently, should you wish to. 

Rent Out 

You can obtain a license to rent the villa out long term or for short term holiday lets. You can also engage with a management company to handle cleaning and security for you. The villa’s short term rental income is estimated to be 8,000 to 10,000 per week and its long term rental income is estimated to be 8,000 to 10,000 per month. AirBnb income is estimated to be between 10,000 and 15,000 per month, depending on the season. 

Sell Up

Would you rather sell up and cash in? Another option is to put the property on the market, sell it and walk away a multi-millionaire.

Your entries into the Marbella Superdraw will not only give you the opportunity to win this holiday villa but also to raise essential funds for Teenage Cancer Trust to reach more young people with cancer.

It really is a win:win.

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