Holiday Property - UK - May 2013
“One of the most common deterrents to buying a holiday home is the concern over lack of holiday variety - having to visit the same place all the time. The key is to persuade potential buyers of the virtues of trading variety for depth: the benefits of developing roots in a place they love and of finding the authentic experience of another landscape and culture that many of today’s holidaymakers crave.”
– John Worthington, Senior Analyst
Some questions answered in this report include:
- How can vendors more effectively promote holiday property to potential buyers?
- Would-be buyers are understandably more cautious than in pre-recessionary times. How can vendors help?
- What is the potential for shared ownership of overseas holiday homes?
- With the place in the sun dream now more than ever just the preserve of wealthy consumers, is there an affordable alternative?
- Has the image and reputation of timeshare improved?
The number of second homes overseas owned by households in England is estimated to have trebled from 129,000 to 389,000 through the course of the last decade, the most conspicuously affluent manifestation of Briton’s love affair with Spain, France and other overseas holiday destinations. However, in recent years, overseas holidays have been eclipsed by staycations, and the property market has been impacted heavily by the harsh economic climate. Second home transaction volumes remain low but consumer search activity is high and gathering pace – although prices are still falling in many locations and buyers are wary of getting their fingers burned.
This report analyses market trends, consumer preferences and attitudes towards buying holiday homes, investigating the core market factors and dynamics. The report also analyses data drawn from a survey of second home buyers carried out by Rightmove Overseas.
Holiday properties abroad are properties owned by UK citizens that are used for personal or commercial purposes, or a mix of both. Resort properties are included. Although people seeking to move abroad are considered, the focus is on those seeking a second property for holiday purposes.
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