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Britons missing out on overseas rental income |
Britons missing out on overseas rental income
According to recently-completed research by MRI Overseas Property, 24 million Britons would consider buying an overseas holiday home, but just 15% would consider letting this property for rental income - which means they are missing out on potential rental revenue from their investment.
Nearly 30% of overseas property owners visit their property only twice a year might not maximise their investment potential if they don’t have plans to rent out the property for the remainder of the year.
As the average monthly rental is currently £800, many overseas homeowners could potentially be missing out on earning thousands of pounds in rental income and now is a good time to begin letting a property abroad, according to the company.
As the property market reaches maximum value levels in the UK, an increasing amount of British people are looking abroad to get a solid return on their investment and holiday homes can provide the perfect solution, due to a constant demand for accommodation by British holidaymakers.
With the possibility of further interest rate rises and the current economic climate in the UK, seasoned buy-to-let experts are now looking further afield. 19% of British landlords have said that, if interest rates reach 6%, they will consider buying property overseas for a better return on their investment.
A recent study by NatWest International has revealed that a quarter of a million people from the UK own a foreign property, mainly in Spain, France and Portugal.
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