Overseas rental property to be in demand

Property investment abroad: 14 May 2008

Owners of rental accommodation in popular tourist destinations should continue to see high demand this year.

Holiday firm TUI Travel revealed that it has recently seen an upturn in the overall number of bookings for trips abroad.

In fact, figures from the firm revealed that purchases of summer holidays over the last six weeks are eight per cent up on the same period of 2007.

Traditional European destinations such as Spain and Greece were said to be particularly popular, although many were found to be willing to venture further afield.

For example, trips to African countries including Egypt were said to be in high demand, while the US and Mexico are also attracting lots of interest.

Peter Long, chief executive of TUI Travel, welcomed the findings, saying they are a sign that consumers will not be put off by ongoing economic problems.

He observed: "This confirms our research that the annual holiday is an important component of the family budget."

The Association of Independent Tour Operators recently released research suggesting that travelling abroad is no longer viewed as a luxury, but as more of a necessity.

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