Abstract
There are now over 211,000 UK households that own second homes abroad. Over capacity in the Spanish, Turkish and Bulgarian markets has seen prices plummet, but owning a second home remains a dream for most UK consumers. Most purchases are funded by savings, rather than by second mortgages, but the desire to buy-to-let is growing and holiday companies, retailers and agents should take note. There are also numerous opportunities for offering search, management, maintenance and leasing services in a bid to combat those negatives that dissuade people from taking the step. Buyers and ' serious shoppers' are decidedly senior and high-end in terms of demographics, but there is a new wave of family-centric potentials coming onto the scene.
As well as Mintel' s survey of 2,000 adults conducted through NOP, this report also contains a survey conducted by ILM-THR amongst 200 plus current owners and potential buyers in the western Algarve.
' Holiday Properties Abroad' are properties owned by UK citizens that are used for personal or commercial purposes, or a mix of both. Resort properties are included, but static caravan or timeshare arrangements are excluded from consideration. Although people seeking to move abroad are discussed within our consumer research data, the focus remains on those seeking a second property for holiday purposes.
An adult, for the purposes of Mintel' s research, is anyone aged 16 or over.
View Cart
