New holiday home market reports from Savills Research & Holiday-Rentals.co.uk Tuesday 17 April 2007 PDF Print Please find below summaries of, and links to the latest reports from Savills Research and www.Holiday-Rentals.co.uk: - Second Homes Abroad 2007 – a report by Savills Research in association with Holiday-Rentals.co.uk - The Private Holiday Home Rentals market: Once you’ve bought a second home, what happens next? – a report by Holiday-Rentals.co.uk For further information from Savills Research please do not hesitate to contact Lucian Cook on 07967 555614. For further information from www.Holiday-Rentals.co.uk please contact Sarah Chambers on 020 8740 2472 / firstname.lastname@example.org It is estimated that up to 400,000 overseas properties are owned by the British * The total value of UK-owned foreign residential property has increased threefold over the past decade on the back of both increasing values and investment. * Over half of second homes abroad are located in Spain and France. * Increasing overseas investment is now being directed at new and emerging areas including Croatia and Bulgaria. * Owners of second homes are typically aged between 45 and 75 with purchases often being funded out of personal capital or out of the equity built up in the owner's primary UK residence. * Investment returns are increasingly important to buyers, particularly in emerging markets where the prospects of future capital growth are a significant incentive. * Rental potential is the most important financial consideration influencing the purchase of a second home. * A seaside or scenic location is a key consideration for purchasers. * Price premiums for properties in locations served by low cost airlines can be as high as 37%. * Typically, the highest rents are being achieved in the established holiday destinations such as Italy, France and Greece. * Gross income yields vary between 2.7% and 8.6% and average 4.6% (based on average occupancy rates of 18 weeks in Europe and 23 weeks elsewhere). To read the Savills and Holiday-Rentals.co.uk Second Homes Abroad 2007 report click here: www.holiday-rentals.co.uk/vd2/files/hr/Savills_and_HR_Second... Brits seek to cover the cost of overseas properties with holiday rentals As the joint Savills and Holiday-Rentals.co.uk report on British second homes shows, rental potential is the most important financial consideration influencing the purchase of property abroad. So how are second home owners managing holiday rentals, and where is the market today? Increasingly, Brits are choosing to self-manage the rental of their holiday home online, dealing direct with travellers to cut out the middleman and save on commission and fees. Holiday-Rentals.co.uk estimates at least 25% of British holiday home owners are currently renting out their homes directly online. Formerly a ‘niche’ market, made up of numerous small websites, the private holiday rentals market is starting to evolve and is experiencing massive growth as both supply and demand increase at a rapid rate. With the acquisition of Holiday-Rentals.co.uk and other leading European and American sites, US-based HomeAway, Inc. is driving consolidation of the sector and working to create the largest and most efficient ‘Consumer to Consumer’ network for holiday home owners and travellers. In this new report, UK market leader Holiday-Rentals.co.uk takes an in-depth look at the market, providing a wealth of new statistics and information. To read the full report on the private holiday home rentals market from Holiday-Rentals.co.uk, click here: www.holiday-rentals.co.uk/vd2/files/hr/Private_holiday_renta... This press release was distributed by ResponseSource Press Release Wire on behalf of HomeAway Ltd in the following categories: Home & Garden, Personal Finance, Construction & Property, for more information visit http://pressreleasewire.responsesource.com/about.