Holiday Lettings news - Brits advised to wise up to possible foreign rental income

Brits advised to wise up to possible foreign rental income

Many Brits are losing out on thousands of pounds in potential rental income by leaving their foreign properties unoccupied.

Recent research by MRI Overseas Property found that only 15 per cent of a possible 24 million people considering buying property abroad would consider letting it out.

In fact, of those who currently own property abroad, 29 per cent only visit that property twice annually.

Olivia Mullan, head of rentals at MRI, commented: "As the property market reaches maximum value levels in the UK, more and more British and Irish people are looking overseas to get a solid return on their investment and holiday homes can provide the perfect solution due to a constant demand for accommodation by British holidaymakers"

Average monthly rent on short term rental properties in Bulgaria and Portugal stands at £800 this year.

With such fantastic yields on foreign property, savvy investors in the UK are starting to look abroad in face of rising interest rates at home. The research found that 19 per cent of British landlords said they would buy abroad to get better returns on their purchases.

This article was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.
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