Suffering through the cold, dark winters may be a drag, especially if you have the travel bug and are itching to get to your favorite vacation spot for some fun and relaxation. If this describes you, you’ll be delighted to know that we have the ultimate solution: buying a holiday home that you can visit anytime you want, that perfect bolthole that serves as the ideal retreat when you need to soak up the fun and sun in a foreign nation. Even better, if you buy a vacation home overseas, you will be able to reap the rewards if you opt to rent it out between trips, and this extra income should not only pay for the initial purchase in record time, but also give you with a sizable income year after year.
Of course, it won’t be as simple as just choosing a location you like and going for it; there will be some upfront fees to ensure your vacation home is ready for a large number of visitors, and you’ll need to plan for redecoration, frequent cleaning services, and hosting requirements. You should also consider carefully about where you want to buy your property. Like analyzed cities around the world with thriving tourism ecosystems, taking into account data such as average house prices per square metre, local average temperatures, the number of restaurants nearby to indulge in, and how profitable the location is for landlords with property prices versus potential rental earnings on Airbnb – and here are the best cities around the world to buy a vacation home in this year.
Istanbul tops the list as the best city in the world to buy and rent out a holiday home, with house prices averaging £195.67 per square metre and the potential to earn £3,053.00 each month from renting a two-bedroom property out on Airbnb. Image credit: Halit-Sadik/Bigstock.com
Istanbul is the finest city in the world to purchase and rent out a vacation home, with housing prices average £195.67 per square metre and the potential to make £3,053.00 per month from renting out a two-bedroom property on Airbnb. As a major tourist destination, Turkey’s largest city welcomed 14,716 visitors in 2019, many of whom were likely drawn by the city’s 15,205 restaurants and 438 bars. This means there will be enough of tourists to keep your property booked and active all year. Tourists enjoy bars and restaurants because they provide an opportunity to sample local cuisines and unique nightlife scenes.
Property prices across Turkey are set to increase by 161 per cent in just one year and will rise by 758 per cent over the next ten years, which is something to keep in mind if you’re hoping to invest in property. Image credit: AlizadaStudios/Bigstock.com
Turkey also has the second-best city for buying and renting a vacation house, with Antalya rating just behind Istanbul. Property costs per square metre are higher in comparison to the capital city, at £962.54 on average, and Airbnb rental profits are lower as well, at £2,973.00 per month for a two-bedroom house. Property prices in Turkey are expected to grow by 161% in a single year and by 758% over the next ten years, which is something to keep in mind if you want to invest in real estate before this high surge.
Holiday homes in Las Vegas get the most sun and the city ranks as the sunniest holiday home location on the list. Image credit: Andy777/Bigstock.com
Las Vegas is the most profitable destination for vacation home, with the investment paying for itself in just one month – wonderful news if you can’t get enough of Sin City‘s dazzling lights and excitement. In Nevada’s most popular city, Las Vegas, vacation homes may earn an average of £16,920 per month from Airbnb rentals while paying only £16,888.48 for a two-bedroom apartment – the investment might pay for itself in only one month. Furthermore, holiday houses in Las Vegas receive the most sunlight, with the city ranking as the sunniest holiday home destination on the list, averaging 10.48 hours per day.
It’s estimated that it will take just 3.62 months to reap back what you put into it and with such as dazzling location. Image credit: frank Peters/Bigstock.com
Second on the list of profitable cities is Los Angeles, where Airbnb revenues average £15,587 per month, but acquiring a two-bedroom condo costs an average of £57,277.68, which is significantly more expensive than the same property in Las Vegas. However, it is anticipated that it will take just 3.62 months to recoup your investment, and with such a stunning location, you couldn’t ask for much more.
With the stunning architecture, ostentatious nature of the city and world-class hotels and sights to visit, Dubai ticks all of the boxes. Image credit: Grisha Bruev/Bigstock.com
The UAE’s glittering metropolis of Dubai not only ranks fourth overall, but also leads the list of vacation home locations with the warmest weather, averaging 27 degrees Celsius each day, is the third most lucrative location, and has a staggering 9.61 days of sunlight on average. Dubai hits all of the criteria with its magnificent architecture, extravagant nature, and world-class hotels and attractions.