Newly built bungalows at Condado de Alhama Golf Resort, Murcia

What this assumes

14 rental weeks a year (98 nights, 27% annual occupancy) at €76/night. Short-term letting rates and occupancy for Alhama De Murcia are sourced from Booking.com; a 20% new-build premium is applied to the nightly rate. Summer alone is roughly 11 weeks, so this figure assumes the shoulder season lets as well.

Gross yield is before costs. Net yield deducts 10% vacancy, 15% management, community fees, insurance, IBI and 19% non-resident tax — the full breakdown is in Terminal. Every figure here is an estimate from market data, not a guaranteed return, and a tourist licence is required to let short-term in most municipalities.