With the world’s financial markets essentially telling the same tale of woe at present, you could hardly blame buy-to-Iet investors for putting their plans on hold.
However, in an interview with Bulgaria Air the Inflight magazine Ross Elder, managing director of UK-based rental specialist Holidaylettings.co.uk, reveals that far from decreasing under the credit crunch, the demand for self-catering holidays worldwide is actually on the increase. He claims that predictions from research company Mintel, as well as record daily visitors to the Holidaylettings website, illustrate that buy-to-let propositions are actually growing in popularity.
Having surveyed over 600 holidaymakers in May 2008, we were told by 75 per cent of holidaymakers that vacations were ‘essential’ for well-being, Elder continues, opting for self-catering in a private holiday home is deemed to be better value for money – and a richer experience than staying in a hotel. With over half a million booking inquiries sent through holidaylettings.co.uk this year and an average of 40 booking inquiries per property per annum, we fully expect holiday home landlords to be benefactors in this downturn.
For the aforementioned reasons, Elder anticipates that the self-catering trend will spillover into Bulgaria’s ski resorts, with increased demand for do-it-yourself ski tours. We think this will particularly apply in the larger resorts where all the facilities for grocery shopping are on hand, he explains. Properties in mountain resorts have huge potential to benefit from dual season tourism as well.
The winter months have an obvious attraction, but mountainous destinations provide activity holidays all year round whether your passion is walking, hiking, climbing, mountain biking, paragliding or just soaking up the fresh air. Holiday home landlords need to harness this dual market and pitch their properties more effectively to appeal to summer and winter tourists.