Tue 18 March 2008
Self-catering holiday homes in the Sardinian town of Alghero are pulling in holidaymakers like flies. Attracting over five times the number of holidaymaker enquiries than average through holidaylettings.co.uk, the UK’s No.1 holiday home website, this sends a clear message to investors and estate agents on the potential this market has for overseas property investment.
With currently around 130 advertised holiday homes in Sardinia, it is Italy’s number one sunshine spot this year.
Other locations over-subscribed and under-invested include Gran Canaria, Malta, Ibiza and Marrakech, all of which are attracting around double the average amount of enquiries from holidaymakers. Gran Canaria has seen relatively little holiday home investment when compared to Tenerife and Lanzarote, yet still offers an almost year round summer climate in just a short haul flight. Interestingly, few of the Canary Islands have yet to be tapped significantly by the biggest low-cost carriers easyJet and Ryanair, which may also affect the attraction for investors and holidaymakers.
With some parts of Ibiza closing in the winter and direct flights stopping usually between November and March, it may not appear the most obvious destination in which to invest and low numbers of advertised holiday homes support this. However, it is a hugely popular destination between May and October and rental prices reflect this, with holiday homes costing almost double per week than in Mallorca, so there is no sign that rental yield for investors would be affected much by the shortened season.
Ross Elder, managing director of holidaylettings.co.uk comments: “It is vital to consider the holidaymaker demand when choosing a destination to buy property. An investment hotspot has to demonstrate both sides of the coin if it is to appeal to mixed use investors. It is not just about the volume of people buying property in a location that matters, but whether it is a viable investment for achieving rental income.”
About Holiday Lettings:
Holidaylettings.co.uk was established in 1999 by Ross Elder and Andy Firth. Part of the TripAdvisor Media group since June 2010, the business continues to thrive as an independent brand from its offices in Oxford. Jonathan Dees has been managing director since March 2011.
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*Through the TripAdvisor Media Group. Source: comScore Media Metrix for TripAdvisor Inc. and its subsidiaries, Worldwide, May 2012