Holiday Property Abroad - Impact of the UK homes market
Despite a global property crash the holiday home dream remains undiminished but consumers are now far more risk-averse. A quarter are concerned about being ‘ripped off’ or about possible legal problems and belief in the investment value of owning a home abroad has also halved over the past two years.
Following years of exponential growth the overseas property market must now pick itself up, dust off its oversupply of holiday homes and reconnect with buyers more motivated by lifestyle factors than short-term money-making schemes, but warier than ever of the pitfalls.
Despite a global property crash the holiday home dream remains undiminished but consumers are now far more risk-averse. A quarter are concerned about being ‘ripped off’ or about possible legal problems and belief in the investment value of owning a home abroad has also halved over the past two years.
Following years of exponential growth the overseas property market must now pick itself up, dust off its oversupply of holiday homes and reconnect with buyers more motivated by lifestyle factors than short-term money-making schemes, but warier than ever of the pitfalls.
This report provides an overview of trends in holiday property abroad, investigating the core market factors, strengths and weaknesses, consumer dynamics and likely future developments.
Key issues
How has the recession impacted on the ownership of holiday property abroad? How has it changed ownership intentions/aspirations?
Who are the key consumers who own/are looking to own holiday property abroad?
How is the UK housing situation affecting the market?
What is happening in the overseas housing markets of interest? Which destinations are popular? Have these changed?
Are holiday properties abroad seen as just being for old people?
How does holiday property abroad fit in with key trends such as travel ‘authenticity’, the rise of independent travel, even slow travel?
Is owning holiday property abroad seen as too restrictive? What are the barriers that stop people owning holiday property abroad?
Can owning a holiday home abroad be squared with ‘responsible travel’?
Despite the increasing popularity of no-frills/budget hotels during the recession, catering continues to be an important element of the stay for many consumers. Just over 27m people stating that they’ve eaten breakfast in a hotel in the last three years.
How has the recession impacted on the ownership of holiday property abroad? How has it changed ownership intentions/aspirations?
