Holiday Rentals News - Holiday home owners 'to double' by 2010

Holiday home owners 'to double' by 2010

The number of Britons with second properties or holiday homes is set to double by 2010, according to a new report.

Research by Mintel found that two million UK residents already own a second home either in Britain or abroad and this number is set to grow significantly in the next three years.

Paul Davies of Mintel said: "It is clear that these days, buy-to-let is no longer the exclusive domain of professional portfolio landlords."

He added: "Increasingly, property owners are seeing the benefits of investing in bricks and mortar and often regarding the second homes market as a good alternative means of saving for retirement."

Mr Davies said that if conditions persist, future growth in the holiday homes and second properties markets "should be guaranteed".

Figures reveal that by the end of the year, around 361,000 buy-to-let mortgages will have been taken out in the country.

Mintel predicts that this will increase to 550,000 by 2011.
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