Affordable Holiday Homes Damage Travel Industry
Overseas Property News - Italy
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The growing number of holiday home owners has caused a dent in the travel industry it has been revealed. Research by Foreign Currency Direct has shown that Second home owners prefer frequent short breaks, as oppose to the traditional 7 or 14 day single holiday -- with many visiting their overseas home up to 5 times a year.
Travel Weekly back up the research, reporting that holiday home owners stay in their overseas home once a month, their chief executive Peter Ellis observed: "We're increasingly money-rich, time-poor, so there has been significant growth in demand for short breaks rather than 7/14 holidays," adding that this could help account for the dropping popularity of traditional package holidays.
The studies also found that one in five holiday home owners give friends and family free usage of the property, with a similar portion charging a fee.
Travel agents will be worried because of this and the likelihood that the number of people buying holiday homes overseas is set to continue increasing. Budget airlines have made buying an overseas property a popular choice, because now mortgage repayments plus the cost of flights are more viable than annual package holiday costs.
The emergence of markets like Montenegro and Albania, and even new emerging markets within Italy, have further increased this trend because they offer an affordable holiday home in the Mediterranean that can be easily accessed by budget airlines, first indirectly and now directly.
Affordable Mediterranean holiday homes like the furnished one bedroom apartments Milanese, Calabria from just £78,500, which are currently being marketed by overseas property specialists DSR. 2 bedroom apartments are also available, all apartments have sea views, are just 500m from the beach and within walking distance of all necessary amenities. DSR also have 2 slightly more expensive developments in Calabria, which offer the same level of value for money but are closer to the beach.
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