Can I still get a new STR licence in 2026?

Yes — in many areas. No — in declared saturated zones and most apartment communities that have voted against. Always verify both municipal AND community status BEFORE making an offer.

Is STR still worth it after regulation?

Net yields have compressed by 0.6–1.0 percentage points vs 2022, but premium licensed units are now scarcer and trading at premiums. Existing licensed operators are doing well; new entrants in regulated areas struggle.

What's the real time commitment?

DIY single unit: 6–10 hours per week steady-state, more during issues. Manager-run: 1–2 hours per month for owner. Multi-unit portfolios under one manager scale efficiently.

Passive income

Short-Term Rentals on the Costa Blanca

Short-term rentals (STR) — Airbnb, Booking, Vrbo — deliver 1.5–2× the gross income of long-lets in tourist zones, but in 2026 they sit at the heart of Spain's most aggressive regulatory tightening. The opportunity is real, but only for operators who get licensing, community approval and pricing right.

Last updated 1 June 2026

Yields by area

Area	ADR (peak)	Annual occupancy	Gross yield	Net yield (well-managed)
Benidorm	€140	72%	8.1%	5.2%
Calpe / Altea	€155	62%	6.8%	4.6%
Jávea / Moraira	€180	55%	6.1%	4.2%
Torrevieja / Orihuela Costa	€110	65%	7.6%	4.8%
Alicante city	€105	70%	6.5%	4.3%
Dénia	€140	60%	6.4%	4.4%

Licensing — the 2026 reality

✦Valencia region: every STR requires a Registro de Turismo number (VT-xxxxx-A) before listing. Without it, Airbnb/Booking remove the listing.
✦From 2025: communities of owners can BLOCK new STR licences with a 3/5 supermajority vote — many have done so. Verify community statutes BEFORE buying.
✦Several municipalities (Calpe, Alicante centre, parts of Torrevieja) have declared 'zonas saturadas' freezing new STR licences entirely.
✦Mandatory guest registration with national police (Modelo SES.HOSPEDAJES) within 24 hours of check-in. Automated via PMS — manual is unworkable.
✦Tourist tax (Valencia region 2026): €0.50–€2.00 per person per night, collected from guests and remitted to Hacienda.

License-first, property-second

In 2026, an existing STR property with a transferable VT licence in a community that already permits short-term lets is worth 8–15% more than an identical unit without those rights. Many investors are explicitly buying for the licence, not the bricks.

Pricing and revenue management

Top-decile operators run dynamic pricing via PriceLabs, Beyond or Wheelhouse — automatically adjusting nightly rates based on demand, competitor pricing and events. Difference vs static pricing: 12–22% additional annual revenue on the same unit.

Length-of-stay segmentation matters: 4–7 night stays maximise net (less cleaning per night), while 14+ night digital-nomad stays smooth shoulder seasons. The best portfolios deliberately mix.

Operations — DIY vs management company

✦DIY: 22–28% higher net income, requires 6–12 hours/week, local backup essential for emergencies.
✦Full-service manager: 18–25% of revenue; net to owner roughly 75% of DIY net but truly hands-off.
✦Co-host model: 12–18% of revenue, owner handles pricing and listing, co-host handles guest contact and turnover.
✦Channel manager (Lodgify, Hostfully, Smoobu) — non-negotiable for serious operation across Airbnb + Booking + Vrbo.
✦Insurance — standard home insurance does NOT cover STR; specialist policies cost €250–€500/year.

Passive income hub

All income strategies.

Real-estate cashflow

Portfolio context.

Long-term rentals

The stable alternative.

Vacation rentals (investor view)

Investment-side analysis.

Beachfront property

Highest-yield STR territory.

Investor taxes

Modelo 210 and STR-specific rules.