Recap of holiday home news: 30 July 2009
If you or your holiday rental guests are expecting to pickup a car hire bargain this summer, think again. There may not even be any cars available.
Holidaymakers visiting Spain and other parts of Europe have been warned of a shortage of rental cars, as hire firms are refused credit by banks to restock their fleets.
With last minute summer bookings on the rise due to the downpours in Britain, hire car companies have reported an inability to meet demand. In some popular destinations prices for last minute bookings have almost tripled.
The advice is to book early and don’t expect to be able to pick up a car at the airport without a reservation.
Buying a holiday home on a hotel resort
For those looking for a different type of holiday home investment, a growing number of hotel and resort operators now offer villas for sale on site. Buyers have access to all the hotel resort facilities and in-house management will let out vacant weeks to other holidaymakers if required.
The advantage is the reassurance of buying into a high-level hotel or resort brand, with all the quality assurance, security and marketing expertise that comes with it. But properties come at a premium. Some cost 20% more than comparable villas outside these complexes. There are also management charges, letting restrictions and re-sale issues to consider.
The coast is clear for second home bargains by the sea
A holiday home near the coast is still the ultimate dream for many. Until recently, coastal properties have been too expensive for ordinary mortals, but there are deals to be had. In the holiday – and holiday home hot-spot of Cornwall, the average price of a home has now fallen back to August 2004 values. In some instances, prices are down by 35% from the peak.
There are more affordable seaside towns if you steer clear of the most fashionable areas. Often, in the next county or on the same stretch of coast, you’ll find similar properties at lower prices. The most affordable spots are in the northwest, including Morecambe, on the Lancashire coast, and the northeast, such as Bridlington, in Yorkshire.
Here are Times Money’s ten most affordable coastal towns. Compare these areas with tourism stats and you could find a holiday let investment bargain.
As one of the busiest holiday weeks of the year gets underway, news that holidaymakers suspected of having swine flu will be prevented from checking in at airports, could prevent thousands from travelling.
If you or a travelling companion is exhibiting symptoms, check this swine flu travel advice before you go.
Will travel insurance cover swine flu?
If you have to cancel your holiday due to swine flu, ensure that your travel insurance covers you, be aware of the claims process and check for any exceptions that could prevent a claim. Also, check that you have advised holiday rental guests to take out travel insurance in case of cancellation.
As the met office issues a revised forecast for more unsettled weather well into the summer, it seems the “UK barbecue summer” passed by in June. Many families are expected to rethink their plans, prompting a surge in last minute overseas holiday bookings.
If you still have availability in your holiday let, think about offering a special offer for bargain hunters. Maybe a slight discount, extra night or free welcome pack.