period and the trend has carried over in to the summer. Despite the recession British holiday makers have been hearing the call of overseas, as last year's trend of the 'staycation' dies down. Yet with the dwindling wfunds brought upon by the collective tightening of purse strings British holiday makers have been trying to travel on the cheap. The focus being firmly placed on getting the best value from their holiday. This has helped the vacation rental's rise as a strong staple in the tourists options.
The Growing Market
There more holiday homes, villas for hire, and vacation rentals than there have ever been before, in an industry that has thrived in the 21st century as the internet has created a specific, targeted market. Sites such as VacationRentalPeople.com and many others, collectively have millions adverts hitting millions of readers.
With vacation rentals often working out at half the price of hotels, or in some cases less than, it is easy to see why this is becoming such a considered option. In a recent survey of other 1,000 Brits it was found that 1 in 5 expressed the desire to rent a vacation property, making them the second most popular option after hotels, as the market continues to grow it is predicted the popularity of the vacation rental will only increase in 2010 and 2011. As the recession persuades more owners to rent out their properties, so too are travellers looking for a cheaper deal.
The Appeal to the Traveller
Recently when many travellers were asked which deals they regarded as most important for their holidays, it was revealed that many considered accommodation to be their top priority. As many look to reduce their budget or get more for their money, the vacation rental seems to offer the perfect solution.
The Appeal to the Owner
Though only 17% of UK owners bought their vacation property with the intention of renting it out to generate income, now many more have chosen to share their property in order to cover expenses. As the recession has hit many owners find the contribution from their visitors a welcome respite, as now nearly a third cover their whole mortgage, while almost two thirds cover at least half their expenses.
Travel Trends of Easter and Summer 2010
While the 'staycation' proved all the rage last year, this year it's popularity wanes as travellers look for a break from the United Kingdom. This year 57% of travellers are opting to go abroad, while 43% are taking their holiday on British shores. Also those intending to stay with family or friends is also dropping from 21% to 7% in 2010.
Something very popular this year has been that old British holiday institution of Costa Del Sol villas, which has seen many Brits returning as a favourite holiday. Also popular was the post winter getaway in Easter which saw many holidaymakers renting holiday homes in Destin Florida, as well as Nice and Orlando.
Vacation rentals from around the world, direct from the owner at vacationrentalpeople.com.
Try one of the beautiful Costa Del Sol villas at VacationRentalPeople.com.
Wednesday 28 July 2010
Tuesday 27 July 2010
The Rise of the Vacation Rental at Home and Abroad
The freedom, value and great flexibility seem to be strong contributing factors in the steady growth in the vacation rental market throughout the world, and also the rise in British vacations 'staycationing'. Over the past two years the growth of the 'staycation' has been huge, yet the popularity of the UK has not harmed other destinations, in fact enquiries for private villas have increased by 40% across the board. This has lead to considerable growth in the vacation rental industry.
While villas in Spain and Cyprus have been a tourist institution for decades, their popularity in Britain has been fairly sparse as opposed to other countries in Europe. Yet many have opted to stay at home, and the 'staycation' has been increasing in popularity over the past few summers. Yet British holiday makers are also hiring vacation rental homes abroad for their summer holidays.
Enquiries for British properties have almost doubled in recent years, with the enquiries to British owners reaching unprecedented levels. Though it is still Spain that remains the popular country for holiday home rentals, attracting a third more enquiries that Britain. France, Portugal and Italy have all fallen behind Britain in its meteoric rise. Last year also saw Turkey experience a 70% growth, both Egypt and Malta enjoyed a 74% growth, and Croatia climbs the vacation rental ladder with a growth of 120%.
Last minute bookings have also been keeping renters busy, as customers search for a quick bargain, yet it it has been a reliable source of income, saving owners from potentially empty months, over the summer period there has been an influx of searches for last minute offers, and many owners offering special deals to lure in potential customers.
Other home owners have found their properties booked up heavily in advance, of those receiving the most advanced enquiries last year were Holiday homes in Florida and Portugal, though villas in Cyprus proved to be the most popular, with Turkey falling slightly behind.
This global explosion in self catering holidays and vacation rental homes rentals has come around at the perfect time. As the recession hits many are looking for cheaper place to stay on holiday, yet there is also increasing demand to rent out one's holiday home, as thousands of second home owners look for a way to make money from their houses. Currently 45% of owners are paying the mortgage on their second homes, thus to float in the this tough economy and support the mortgage payments, making income from the holiday home is a good idea.
With the soaring rise in vacation rentals despite a reclining economy the vacation rental market can not be ignored as an increasingly significant and vital part of the travel industry, generating the property owners over £300 million last year. In countries such as Cyprus and Spain the industry is indispensable. In coming years it is predicted that vacation rentals in the UK will become a cornerstone of the British tourist industry.
While villas in Spain and Cyprus have been a tourist institution for decades, their popularity in Britain has been fairly sparse as opposed to other countries in Europe. Yet many have opted to stay at home, and the 'staycation' has been increasing in popularity over the past few summers. Yet British holiday makers are also hiring vacation rental homes abroad for their summer holidays.
Enquiries for British properties have almost doubled in recent years, with the enquiries to British owners reaching unprecedented levels. Though it is still Spain that remains the popular country for holiday home rentals, attracting a third more enquiries that Britain. France, Portugal and Italy have all fallen behind Britain in its meteoric rise. Last year also saw Turkey experience a 70% growth, both Egypt and Malta enjoyed a 74% growth, and Croatia climbs the vacation rental ladder with a growth of 120%.
Last minute bookings have also been keeping renters busy, as customers search for a quick bargain, yet it it has been a reliable source of income, saving owners from potentially empty months, over the summer period there has been an influx of searches for last minute offers, and many owners offering special deals to lure in potential customers.
Other home owners have found their properties booked up heavily in advance, of those receiving the most advanced enquiries last year were Holiday homes in Florida and Portugal, though villas in Cyprus proved to be the most popular, with Turkey falling slightly behind.
This global explosion in self catering holidays and vacation rental homes rentals has come around at the perfect time. As the recession hits many are looking for cheaper place to stay on holiday, yet there is also increasing demand to rent out one's holiday home, as thousands of second home owners look for a way to make money from their houses. Currently 45% of owners are paying the mortgage on their second homes, thus to float in the this tough economy and support the mortgage payments, making income from the holiday home is a good idea.
With the soaring rise in vacation rentals despite a reclining economy the vacation rental market can not be ignored as an increasingly significant and vital part of the travel industry, generating the property owners over £300 million last year. In countries such as Cyprus and Spain the industry is indispensable. In coming years it is predicted that vacation rentals in the UK will become a cornerstone of the British tourist industry.
Subscribe to:
Posts (Atom)