Long-term objectives

Over the next five years, the vast majority of owners plan to continue to rent out their property, with 85% of respondents planning to do so. Just 13% of respondents plan to sell their property within this time period, of those who plan to sell, the primary reason is to realise a profit, with 31% citing this as a reason.

Owners of property in Brazil are most likely to sell in the next five years, with 27% stating they plan to do so. Conversely, owners of properties in the UK are the least likely to do so, with just 6% stating they plan to do so. Reflecting Brazil’s wider economic struggles, close to half (48%) of owners in Brazil stated they saw bookings decrease in the last year, compared to 18% of UK owners.

Meanwhile, 71% of owners surveyed have no current plans to purchase another holiday rental property within the next five years. Of those who do plan to make another purchase, the majority plan to do so within the short-term, with almost three-quarters (73%) planning to do so in the next two years compared to 27% within the next 3–5 years.

Owners of properties in the US are most likely to make a purchase in the next five years, with 40% stating they have plans to make a purchase. Conversely, owners of properties in France are the least likely, with just 13% stating they plan to make a purchase in the next five years.

For future buyers, the desire to earn rental income from their future properties is the main determinant in deciding where to purchase. Over a quarter (27%) of respondents consider this absolutely essential, while an additional 59% consider it to be important.

Renters are looking for their own space

For renters, an entire house or apartment is cited as the most popular form of accommodation over the next three years, with 66% stating they were very likely to use this form of accommodation and 28% stating they were much more likely to do so compared to the past three years.

Conversely, holiday rentals which offer a room within a house or apartments are far less popular, with 55% of respondents stating they were not at all likely to choose this form of accommodation in the next three years and 38% stating they were much less likely to do so compared to the previous three years.

Brits more likely to make a domestic trip

When asked about the preferred destination for their next trip, close to half (46%) of Brits cited the UK as their first choice, this compares to just 13% in 2018. This rise could suggest that the weakness of the pound against other currencies and comparatively good summer weather over the past few years is influencing more Brits to holiday at home. Spain remains a popular choice, however, with 17% of Brits citing the country as their first choice, down from 27% in 2018.

_{Read the articles within Report: Second Homes below.}