Holiday homes 'cheaper than hotel'

Expatriates looking for holiday properties may find that the recession has boosted the holiday homes market all round the world, according to holidaylettings.co.uk.

Head of communications at the listings site Kate Stinchcombe Gillies noted that after the recession hit, individuals who had invested in second homes during the early millennium property boom "have come to appreciate the intrinsic value in their second home".

There are now tens of thousands of holiday homes around the world available for short let from private owners, which benefits owners and holidaymakers.

"Renting a holiday home is cheaper per person than staying in a hotel," Ms Stinchcombe Gillies noted, adding that visitors renting a holiday home may appreciate the extra space that hotels could not afford them.

Holidaylettings.co.uk figures show 60 per cent of the website's UK homes are already booked for the first week of August alone.

Popular destinations this summer for expatriates and travellers looking to take a break are Barcelona, New York, Istanbul and paris, Ms Stinchcombe Gillies added.