Brits are being far more inventive with their holiday home investments, with many choosing to buy in countries like Poland, Hungary, Argentina and Mexico, but Western Europe is a still a firm favourite, according to Holidaylettings.co.uk.
But while France, Italy and Spain are continuing to attract investors – with a 40 per cent increase of the number of Spanish homes on holidaylettings.co.uk in the past year - the big news in Europe is Portugal.
Portugal has experienced the fiercest holiday home growth in Western Europe in the last year. The number of Portuguese holiday homes available to let through Holidaylettings.co.uk has increased by more than 300 per cent over the last year.
“These figures demonstrate the ongoing attraction of Western Europe as an investment location and how, with the case of Portugal, with its easy access from the UK it still has property investment potential,” says Ross Elder, MD of Holidaylettings.co.uk.
But despite the continuing popularity of Western Europe, the attraction of Eastern Europe is also growing fast, suggesting a general rise in the number of people investing in foreign property. Holidaylettings.co.uk has plenty of new self-catering holiday offerings in Poland, Estonia and Slovenia and have also seen a South American influx, most notably in México, Argentina and Brazil.
“With yet more investment in Eastern Europe and South America it will be interesting to monitor how these markets develop in the next couple of years,” continued Mr Elder.
“It is vital for investors that there is a sufficient tourism draw and affordable flights are available in order for holidaymakers to be drawn to these areas.”
Find out more about buying Property Abroad