Experts urging people to invest in buy to let amid booming tourist market

Tourism is booming in Britain. According to Visit Britain’s forecast for 2019, inbound visits to the UK are up 3% to 38.9 million. Tourism spending is also up, by a total of 7% to £24.5 billion.

With the value of the pound dropping since the EU referendum in 2019, visits to Europe have become more expensive for Britons. Consequently, many are opting to stay on UK soil for their holidays.

Between June and September 2019, the UK saw a 33% year-on-year rise in searches and bookings for holidays within Britain.
Amid the nation’s rosy domestic tourism market, experts are urging Britons to invest in buy to let. Holiday letting specialists are advising investors to purchase property to use as a rental holiday property.

“Holiday lets are treated as a business rather than an investment – as is the case with a buy to let – which means that they enjoy generous tax breaks on normal business expenses incurred in the running your property, including insurance, repairs, furnishing, cleaning and management,” says one holiday letting firm.

The trend to stay at home rather than travelling abroad looks set to continue, with Visit Britain aiming to break the 40 million visitor mark in 2020.

With tourism in Britain forecast to remain thriving, now could be a good time to invest in buy-to-let for the holiday rental market.
Using a property auction can be the perfect way to find an ideal buy-to-let investment in Britain that would be desirable for holidaymakers to rent out.

Take a look at the properties already listed for our next property auction, or get in touch to discuss your buy-to-let investment plans and how Auction House London can help you find the perfect property investment.