Those of you who have long thought about the idea of owning a dream holiday home abroad that literally pays for itself may wish to consider taking a closer look at Spain, where demand for holiday lets has increased sharply this year.
Homes along the coast are unsurprisingly proving particular popular with both Spaniards and foreign tourists, as confirmed by the latest data provided by the holiday home rental platform HomeAway.
The figures reveal that demand for holiday lets in Spain has increased across the Spanish coast, thanks in part to the fact that more Spaniards are now opting to take their vacation at home.
Local demand for holiday rental accommodation is up an annualised 52% so far this year, with 77% of enquiries made on holiday homes in Spain, and 23% for homes outside of Spain.
HomeAway analysed enquiries made by locals and foreigners to evaluate market trends this year.
Spaniards were most interested in Andalusia, accounting for 34% of enquiries, followed by the Balearics (20%), the Valencian Region (13%), Catalonia (11%), Asturias (5%), and the Canaries (4%).
“As far as the latter is concerned, the Canary Islands are best known as a winter sun destination, so the low level of enquiries for the summer holidays comes as no surprise,” said Mark Stucklin of Spanish Property Insight.
Holiday home rental demand from Spaniards has also grown strongly this year in Catalonia (+71%), Andalusia (57%), and in the Balearics (51%). The average enquiry was for a stay of eight days.
Spain was the number one international destination for enquiries made at HomeAway based on demand from other countries, with the British, Germans and Italians focused on the Balearics, whilst the French were most interested in Catalonia.
“British enquiry levels are up 78%, followed by Italy, Portugal, France, and Germany,” said Stucklin. “British interest in Mallorca was up 94%, Italian interest in Formentera up 97%, and French demand for the Costa Brava up 46%. German enquiries for Mallorca were only up 14%.”
He added: “Whilst local and foreign demand for holiday-rentals is exploding, Spanish regulators are doing everything they can to make it more difficult for second-home owners to rent their properties legally to tourists.”