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HOT SPOTS
“ While the process of purchasing a second property often presents more hoops to jump through ( and quite often significantly higher costs too ) it ’ s clear that in desirable locations there is also money to be made - either by putting the house onto the rental market , or by transforming the property into a holiday home that can be rented out .
“ However , it ’ s completely understandable that second homeownership is a contentious subject in areas such as Edinburgh or Cornwall , where local residents are getting priced out of the market by holiday homes which are rarely inhabited . Measures will likely need to be taken in the future if the second property market continues to grow , in order to keep house prices as affordable as possible .”
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Real Estate Investor Magazine APRIL 2024 55