Assetz: Overseas property investors could be missing out

Overseas property investors could be disadvantaging themselves by automatically choosing to target holidaymakers if they want to make their home available for rent.

According to Assetz, the majority of people who buy overseas property immediately look for homes in the vicinity of airports, beaches, golf courses or other tourist attractions.

These people could be better off searching within more sustainable markets for domestic and professional lets, according to the property specialist.

There appear to be a number of benefits to this approach, such as the increased reliability offered by letting out to people who are permanent residents of the country and the fact that, as a “hands-off” investment, it requires less management input on the part of the investor.

Local, domestic and professional lets can also provide a longer option, with the majority of holiday rentals only taking place for a short period of time.

Stuart Law, managing director of Assetz, pointed out that many investors’ decisions are partly driven by their own personal taste and preference for areas that they themselves would like to use for holidays or possibly in their retirement.

“However, with the time taken to manage the holiday bookings and the hassle of arranging changeover and cleans between holiday let clients, it would make sense financially to consider separating the investment from any intentions for personal use and seek local let property,” Mr Law advised.

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