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Buying a holiday home with the intention of letting it out can make a lot of sense. The property doubles as an occasional retreat for you and your family and a long-term investment that can turn a profit. As with any property purchase, location is key – so, with that in mind, here are our top five-holiday letting destinations.
Spain, as ever, is one of the top destinations for holiday let buyers. The pound may have taken a hit against the Euro following Brexit; however, the European country remains relatively affordable for those in the market for a property.
Meanwhile, the lifestyle, food and weather all ensure the sunny destination attracts plenty of visitors throughout the year. Locations in Spain on the up include Costa Blanca on the east coast, Marbella down south and the island of Lanzarote just west of North Africa.
In terms of logistics, Spain is served by several large international airports so makes a convenient destination for UK investors.
Croatia is growing in prominence as a buy-to-let destination. The country, located in Central and Southeast Europe, offers reasonable property rates as well as a booming tourist industry, driven by great weather, unspoilt landscapes and beautiful beaches.
Top attractions include the Dalmatian coast, the historic city of Split and the islands of Brac and Hvar – both of which are accessible via a short ferry ride.
Due to the increasing popularity of Croatia, prices are rising but rental yield remains competitive.
Historic, stylish, picturesque; there are a myriad of reason why Italy remains one of the most popular tourist destinations in the world.
The Southern European country, famed for its food and drink, is also a great option for buy-to-let investors, with property prices relatively affordable following Italy’s slow emergence from the global economic downturn.
In terms of choices, investors are spoilt, with hilltop towns, medieval villages and rustic farmhouses among the many options available.
Despite recent financial difficulties in the region, the Eastern Mediterranean island of Cyprus remains an extremely popular visitor destination.
Its well-established tourism infrastructure is a huge plus for buy-to-let property investors from the UK, who also benefit from the fact that English is widely spoken on the island. What’s more, foreign property buyers may even be granted a visa, depending on the size of their investment.
Hot spots for holiday lets include the historic city of Nicosia, the coastal towns of Paphos and Polis, and the modernised city of Larnaca.
For some, buying a property in your own country takes a bit of the adventure out of a holiday home purchase. However, here in the UK, we have a number of beautiful destinations that are popular with visitors all year round.
These include Cornwall, the Lake District and Norfolk. Another advantage of investing in a property in the UK is that language is not an issue, nor will you have to worry about conversion rates or unfamiliar laws.
Although it’s not for everyone, the UK proves that you don’t have to travel halfway across the globe, or even Europe, to find a great holiday let property.
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