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.

by: VacationRentalPeople

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