Recession Causes Boom for Holiday Homes

by Ella FAIRCHILD on September 14, 2009

It has been a strange year for the travel and tourism industry.  The global recession has people concerned about their finances; the swine flu outbreak has them worried about their health.  All of this has led to a steep downturn in travel numbers which is bad news for businesses like hotels and car rental agencies.  However, the news isn’t all bad, as some within the housing industry are seeing a big spike in sales, a boom they say is largely due to the poor economy.

More and more Britons chose to make their holidays in the United Kingdom this year.  These staycationers are not only helping some of the struggling businesses in the United Kingdom, but are also driving up housing prices in some of the United Kingdom’s more popular tourist areas.  With fewer people choosing to go abroad, holiday homes for either sale or rent have becomes a popular option for Britons.

With more people staying in the United Kingdom for their holidays, and with the cost of housing dropping every day, buying or renting a holiday home seems like a good investment.  This is good news for homeowners in these areas whose houses are suddenly more valuable than they were at this time last year.

This is also good news for people who own time shares in popular United Kingdom holiday areas.  Timeshares in these locations have become a hot item, which makes it easier to rent out or to swap time shares with someone else, which is an increasingly popular option amongst travelers.

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