Holiday home owners let out properties
Overseas property owners are increasingly letting out their holiday homes to leisure travellers, it has been revealed.
According to DirectHolidayBookings.co.uk, the economic downturn in Europe is prompting more and more people to use their property to generate money.
Andrew Gibson, managing director of the organisation, said the rental yields are helping second home owners to supplement their main income amid the current climate of rising costs.
He added that these people are also responding to a surge in demand for holiday homes among visiting tourists.
Mr Gibson commented: "We have seen a sharp rise in bookings as rising flight prices mean people are economising on accommodation and choosing holiday homes and apartments in favour of hotels."
According to a study by Savills and Holiday-Rentals, people from the UK now own approximately 425,000 foreign properties.
This is 35,000 up on the amount recorded during 2006.
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