Among non-hotel stays, investing in the vacation rental sector is presented as the most profitable and valued alternative by tourists compared to traditional accommodation.
According to data hosted by occupancy surveys in non-hotel tourist accommodation March 2023. (INE):
- Overnight stays in non-hotel tourist accommodation increased by 15.7% compared to the same month in 2022.
- During the first three months of 2023, overnight stays increased by 17.3% compared to the same period of the previous year.
- Overnight stays in tourist apartments increased by 10.2% in March compared to the same month in 2022. Those of residents increased by 4.9% and those of non-residents by 11.9%.
- In March, 32.0% of the beds offered by tourist apartments were occupied, 6.1% more than in the same month of 2022. The degree of occupancy by beds at the weekend stood at 36.0% , with a growth of 4.0%
The type of vacation home most in demand through the main tourist accommodation management and advertisement platforms varies depending on the destination. Most of the accommodation is between 1 and 3 weeks.
- Villas or chaletsThey are the most demanded for coastal destinations. These properties are favorites for families thanks to the open spaces and easy access for cars.
- flats and apartments. They are the most used homes for urban areas. Ideal for getaways.
- townhouses. These types of homes provide the kind of independence and freedom that families seek during their vacations.
The vacation rental industry has experienced significant growth in recent years due to the popularity of online platforms such as Airbnb and HomeAway. Many people have found vacation rentals a profitable way to generate additional income using properties they own.
When considering investing in the vacation rental industry, here are some key factors to consider:
- Demand and Location: Demand for vacation rentals can vary by location and season. Popular tourist areas are often in higher demand, but there may also be periods of lower demand. It is important to research historical demand and market trends in the specific location in which you are considering investing.
- Regulations and Legislation: Before investing in vacation rental, it is important to understand the local regulations and laws related to this type of activity. Some cities and countries have implemented stricter restrictions and regulations to control the impact on local housing and ensure the safety of guests.
- Maintenance and management: Vacation rental involves the management and regular maintenance of the property. You should consider whether you have the time, resources, and willingness to handle tasks like cleaning, routine maintenance, and guest interaction.
- Risks and Financial Considerations: Investing in a vacation rental carries certain risks, such as periods of low occupancy, last-minute cancellations, or property damage. It is also important to consider the associated costs, such as taxes, insurance and possible commissions from booking platforms.
- Price of a vacation rental: these data should be taken as an indicative value, the price of a vacation home on the market fluctuates significantly depending on factors such as accessibility, the state of the home, maintenance, cleanliness, consumption, etc. In addition, the costs associated with housing must be considered, as well as the payment of taxes in the regions that require it.
Before making any investment decision, it is advisable to consult with financial advisors or real estate experts who can assess your financial situation and provide personalized guidance based on your specific objectives and circumstances. At Company Gestions Club we will assist you to guide you in what you are needing to invest in the vacation real estate sector. Write us or call us we are ready to assist you.
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