Holiday home and second home ownership is increasing at a rapid rate with more British people buying holiday homes / second homes abroad than any other nationality.
The majority of holiday homes are being bought in Spain and the South of France but Italy, Portugal, Tenerife, Mallorca, and Menorca are all poplar destinations.
 Many people are buying holiday homes abroad simply to get away from the English weather, but holiday home ownership within Britain is also on the increase for people who just want to get away from the rush of the city and everyday life. More than 70% of British people who purchase a second home, either in the UK or continental Europe, intend to use the new property purchase as an investment and as a form of extra income by renting it our for holiday lets.
Most buyers take out a mortgage from a local bank as interest rates in Europe are much less than in the UK (as low as 2.5% in some areas) and the income from the holiday lets often covers, or is a great help, towards the monthly repayments.
Buying to let in the busiest holiday rental regions of Europe such as Spain, South of France, Mallorca and Italy encourages buyers to spend a higher sum of money on their purchase than if they invested in an area without all year letting potential. Therefore property prices in these areas are increasing at a considerable rate and some areas have seen property prices increase as much as 30% per year.
The buy-to-let / holiday rentals / holiday lettings sector is one of the fastest growing in both the travel and the property markets throughout the world and is a major contributing factor to the increase in house prices. Buying a holiday home to rent is now becoming increasingly easy especially with the introduction of internet and sites such as uLet.co.uk which is soon to be launched and will revolutionise the way the holiday rental market operates forever.
uLet has been in development for over 12 months and has a team of highly experienced people who can cook, clean, wash the pots and even sing but more importantly know how to market your holiday home. uLet is like no other, uLet is not another holiday rentals/ villa / apartment advertising site, we’re better than that. So if you want to know what we’re all about, keep checking back. We’ll be live soon. |
