10 March 2008

People who have bought holiday homes abroad only tend to spend about a month in their overseas property, new figures have revealed.

According to a study by HolidayLettings.co.uk, second home owners from the UK occupy their foreign residence for an average of four weeks. This has prompted the organisation to suggest that they make the best use of their property during the remaining 48 weeks of the year.

Specifically, it has informed people of the financial gains they could make if they rent out their holiday home when it would otherwise be sitting empty.

Ross Elder, managing director of HolidayLettings.co.uk, commented: “There is a fantastic opportunity for owners of holiday homes to reap the rewards of the healthy rental market.”

He added that mixed-use investors could earn an annual sum between £7,000 and £18,000 in rent per annum.