The Savills Research / HomeAway report highlights what buyers deem important in their second homes, and what renters look for in a short-let.
As per the report, second home buyers purchase both with the intention to rent as well as for own use. Nevertheless, the primary reason for purchase in 2019 was income generation. Income generation is mostly dependent on tourism, which is the wind in the sails of the short-let industry; and there is an unwavering global demand for travel and tourism.
Being close to the great outdoors is fast becoming an important factor in deciding where to holiday and also where to own property. However, the need for connectivity to the rest of the world is a staple of today’s culture. Owners and renters agree on the top three most desirable amenities and features: Any internet access; High-speed internet access; and Any reserved parking.
Unsurprisingly, being on or near a beach is the most desirable type of environment for families with children and pets.
Thankfully second homes in Cyprus score highly on all the above. Second homes in Cyprus are on or near a beach; Tourism in Cyprus continues to grow and so does demand for short-lets, which means that your second home will be generating income for you during the very long holiday high-season in Cyprus, now running from April to November.
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