Around the world: a recent analysis study by Savills and Vrbo has revealed that internet access is the most important amenity when deciding on a holiday rental, not only for travellers but also for second home owners who are considering buying a second home.
For the Savills Second Home Report, Savills Research surveyed 7,800 owners who list their properties on Vrbo in ten major markets around the world (United States, Canada, United Kingdom, Spain, France, Italy, Netherlands, Portugal, New Zealand and Brazil), as well as some 6,800 travellers in the same ten countries who use the Vrbo platform for vacation rental bookings.
According to the Savills Second Homes Report, 64% of second home owners and 46% of travellers place the highest importance in choosing a holiday home on having internet access, with any access being more important than high-speed access. The latter ranked as the second most important amenity for more than half (54 per cent) of all owners responding to the survey and around a third of all travellers.
Other factors considered essential by owners in addition to Internet access vary according to the nationality of the respondents
While 55% of Greek, 25% of Portuguese and 19% of Italian homeowners consider a balcony or terrace essential, US homeowners (47%) prefer air conditioning. Meanwhile, British holiday home owners (30 per cent) value access to a swimming pool and the French (30 per cent) are looking for reserved car parking.
Travellers’ preferences
In terms of travellers’ preferences, parking, a patio or balcony and a television are considered among the most desirable amenities within holiday rentals.
Just under half of respondents who purchased a second home in 2019 did so with the intention of renting it out on a short-term basis as well, rather than “own use” exclusively as the primary reason for purchase.
Homeowners who choose to rent out their second home do so for a variety of reasons, but the main drivers are a source of income and cost coverage. As such, the health of the holiday rental market is increasingly vital for these owners.
The number of days a property is occupied and how this has changed is a good measure of the market, which is reflected in the Savills Research report. In each country surveyed, a third of owners said they had seen their booking rates increase over the last year, while a further 45 per cent said they had stayed the same.
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