If you're looking to invest in overseas property to rent out, and don't know whether you should be buying a brand new apartment in a city, or a rambling farmhouse in the middle of nowhere, have a think about who your target market is. As tempting as it may be to buy a four or five bedroom house / villa knowing that your weekly rental rate will be quite substantial, think again.
There is an increasing demand for one bedroom places from young professionals without children who are escaping the rat race for some relaxation on their holidays. Whether you purchase a secluded and romantic hideaway or a modern city apartment, you will find that the demand is there and it is this size of property which gives you regular bookings year-round.
Owners of small properties such as these are saying that their calendars are booked way in advance and that even if they own a two bedroom place, it is often booked by a couple, leaving one bedroom free. What is also particularly appealing about renting to a couple is that their dates are unlikely to be dictated by school holidays. So when most property owners are struggling to fill term time places in their three or four bedroom villas, you should be able to get business all year round. In fact, people who don't have to take their holidays during school term time will be more inclined to pick other times of year when the flight prices and property rental prices are lower.
What are these couples looking for in their holiday? Well, each to their own, but it's quite likely that they are seeking something romantic and private, whether it's a city break or a rural retreat. So it's worth ensuring that your property has all the added touches; that doesn't mean you need infinity pools and butler service (although that would be great!) but it doesn't cost much to leave a bottle of wine on the mantelpiece to greet them, a good stock of candles and a list of intimate local restaurants and bars.
These days the options for holidays are vast. There are thousands of self catering properties to choose from and to ensure good business you need to stand out from the crowd by concentrating on these extra finishing touches to ensure that your visitors' holiday lives up to their expectations.
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Olly Symonds is the co-founder of One Off Places, a holiday property rentals website specifically geared towards individual and one-off style properties. Launched in 2007 it offers users the chance to search for exactly what they want on their holiday, whether it's a secluded farmhouse, a penthouse apartment or a luxury villa.
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Published 12-03-2009
