Why Are Holiday Let Investment Properties Becoming One Of The UK’s Hottest Assets In 2022?
Looking to embrace a fast-growing investment opportunity that yields big results even without 100% occupancy rates? Click here to learn about short-term lets and the investment strategy in 2022.
The UK property market is creating many exciting investment opportunities in 2022, but perhaps none are as impressive as short-term lets.
Holiday let investment properties have delivered high yields for several years but holiday lets within the UK are becoming more and more popular, which makes them a fantastic investment. This quick holiday let guide will show you why.
The UK Staycation Market Is Thriving
The UK is an immensely popular destination attracting millions of international tourists each year. In fact, over 40 million overseas trips to the UK were made in the UK prior to the pandemic. After a two-year slump, figures are rapidly rising once more in 2022.
Thanks to online bookings and the ability for tourists to book their own adventures, a growing percentage of international visitors now embrace short-term lets rather than sticking to hotels. Likewise, there is a far greater awareness of UK adventures outside of London. Whether it’s Cornwall or the Cotswolds, the Scottish highlands, or the Welsh Conwy, holiday investment homes can perform well.
However, the true success of short-term lets as a property investment UK strategy comes from the fact that Brits are choosing domestic vacations. Strangely, the pandemic gave us all a renewed appreciation of everything this beautiful country has to offer.
After a record-breaking year for UK staycation holiday bookings in 2021, the popularity has remained in the early parts of 2022 with Devon, Norfolk, and Yorkshire among some of the popular destinations for longer getaways. Meanwhile, Manchester, Cardiff, and Edinburgh are just three regularly visited city break locations.
Despite the fact that international travel is back on the market, the convenience and appeal of domestic vacations mean that over 80% of people who took UK breaks in 2021 will now make it a yearly occurrence. Any investors with short-term let investment properties can take confidence from this new collective mindset.
Short Term Lets For High Returns
With property prices climbing at a rapid pace, buy-to-let investment properties remain a fantastic asset for investors to hold. A palpable shift to short-term lets for holidaymakers has opened the door to even greater returns.
Studies show that prices in coastal towns climbed by 35% last year and look set to stay. When combined with the high occupancy rates, with experts stating that the average holiday let investment can expect to be booked for around 24 weeks of the year, the revenue opportunities can be huge. Unlike traditional landlords, there is no threat of waiting weeks or months between tenants either.
Property investors looking at the holiday investment market additionally have the flexibility of taking the hands-on approach or hiring a short-term lets property management firm. When added to the fact that real estate assets bring fantastic long-term returns, it’s not hard to see the growing trend from investors.
Even in London, holiday homes (62%) have seen greater occupancy than hotels (40%) in recent times. People love the personality and privacy of short-term lets. Investors that capitalise on this can expect to see stunning returns throughout the rest of 2022 and beyond.
Now Is The Time To Choose Holiday Property investment UK
There is still plenty of time to enjoy the benefits of holiday property investments in 2022 while also reaping the rewards of this increasingly popular arena for years to come. Furthermore, our team can help by connecting you to the right investment opportunities throughout the UK’s most popular tourist destinations.
For further advice from a property expert who deals with property in this sector, get in touch today.
