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Holidaymakers 'should invest in favourite locations'

Article Date : Friday, April 13, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Brits who repeatedly return to the same region for their holidays might do well to invest in a second home, according to MRI Overseas Property.

Research by the firm has shown that Brits spend a total of £65 billion on holidays every year and almost 73 per cent return to the same place at least twice.

And because France and Spain continue to top the most popular holiday destination lists, regular holiday goers are being urged to consider purchasing their own "idyllic French hide away" or a "sunny villa on one of the Costas".

MRI said that this would also provide Brits with the opportunity to rent out the property at other times of the year.

Darragh MacAnthony, group chairman, remarked: "Buying a property in an area that Brits love not only offers the flexibility to visit frequently, but by renting out the property to others you can also generate an additional income to offset the flight costs for your own trips."

A recent study by MRI found that around half of all overseas property buyers aged over 50 are considering investing in Spain or France.
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