UK: Aria Resorts, a UK holiday company, has seen a 50 per cent rise in holiday property sales post-lockdown as the demand for staycations continue into the autumn.
A recent ONS survey reported that 62 per cent of adults were unlikely to travel abroad if they were required to quarantine, and 20 per cent had already cancelled their plans abroad. Of these, 14 per cent decided to holiday in the UK instead.
Based on the same period last year, sales enquires at Aria Resorts are converting at a much higher rate. Capital gains relief, entrepreneur’s relief, stamp duty restrictions and the ability to claim capital allowances has set market conditions as ripe for investment.
Paul Nicol, sales director for Aria Resorts, commented: “We have seen an unprecedented level of demand for holiday accommodation post-lockdown, with demand outstripping supply in most popular holiday locations. The demand is extending well into the autumn, and we’re expecting an influx of retired people and those that have been sheltering, once the schools return. Those making enquiries are active buyers. And many are cash buyers who are taking advantage of the financial incentives.”
Holiday home owners have the option of entering the Aria Resorts’ Managed Lettings Schema which allows participating owners to control how many weeks they let their property. This plan operates with a 30 per cent + VAT commission fee, covering all marketing and management. Alternatively, qualifying investors can opt for a fixed return of seven per cent over a period of three to five years.
The latest holiday barns from Aria Resorts at the Retallack Spa and Resort in Cornwall lead in at £225,000.