Increase the possibility of vacation rentals with your property
Vacation rentals have emerged as an investment option in the real estate market, and although they represent only 1% of the homes owned by individuals, their growth has been remarkable in recent years. Data from Fotocasa Research reveals that this figure has remained constant over the last five years, but has experienced a significant increase in buyer interest.
This segment is increasingly attracting investors interested in taking advantage of its benefits. However, vacation rentals remain a minority share of the housing market, concentrated mainly in city centers and tourist areas.
The growth in the willingness to allocate homes to vacation rentals is a noteworthy phenomenon. In addition to the owners already participating in this market, there is a group that has acquired or plans to acquire properties for this purpose. Although most buyers choose to use the property as their primary residence, 13% are inclined to acquire it as a second home, and another 13% consider it as an investment.
In this context, the focus on vacation rentals has increased significantly. Of the buyers, both actual and potential, who plan to use the property as a second home or investment, 6% intend to rent it as a vacation rental. This percentage has experienced significant growth compared to the previous year, when it represented 4%.
It is important to note that these numbers vary when looking exclusively at the group of potential buyers. Sixteen percent of individuals are looking to purchase a property in 2023 as an investment, up from 8% the previous year. In addition, 14% are interested in buying as a second home, up from 12% in 2022.
In the group of ineffective buyers, interest in vacation rentals has also increased. Six percent of individuals who have tried to buy a property as an investment or second home are interested in offering it as a vacation rental.
In short, vacation rentals are gaining ground in the real estate market, driven by their attractive profitability and the growing interest of buyers. Although it still represents a small share of the housing market, its growth potential is promising, making it a segment to watch closely in the real estate sector.
For most vacation rental owners, both those who buy to invest and those who offer their properties, profitability continues to be the most determining factor in their decision. In this sense, there has been a noticeable growth in interest in profitability compared to previous surveys. According to the data collected, 58% of those surveyed consider that investing in housing provides a return that is not currently found in other financial products. This percentage is significantly higher than the 49% recorded in 2022 and 54% in 2021.
It is interesting to note that the interest in profitability shown by owners who allocate their homes to vacation rentals far exceeds that of landlords in general terms, which stands at 38%.
The Profile of Vacation Rental Buyers and Buyers’ Bidders
In terms of the personal profile of those offering vacation rental properties, there has been a slight but steady decline in the average age in recent years. In 2023, the average age is 48.3 years, compared to 49.4 in the previous year and 50.4 in 2021. This reflects a decrease of one year in the average age of bidders per year.
In terms of gender, there has been an equalization in the percentages, practically reducing the gender gap that existed previously, where men predominated. In 2023, 51% of the suppliers are men, while only two years ago they represented 57% (in 2022 they had already decreased to 54%).
While vacation rentals remain a minority share of the housing market, their steady growth and increased interest from potential buyers indicate that this segment has significant potential for the future.
With profitability as its main driver and an increasingly diverse audience participating in this market, vacation rentals are proving to be an attractive option for both owners and travelers seeking temporary accommodation.
Translated with www.DeepL.com/Translator (free version)