Increased Vacation Rental Bookings Lead to a Rise in Real Estate Sales for Rental Homes
In response to consumer surveys from Trip Advisor, one of the worlds largest travel sites, indicating holiday maker’s preference for vacation rentals, Escape Villas, Costa Rica´s leading vacation rental Management Company has announced a significant increase in property owners signing up for their services for 2011. Traffic to their popular vacation rental website – www.villascostarica.com, has increased, as well as booking contracts, and home owners wishing to use their advertising and rental booking services.
One of the reasons for this is that according to a report released in May 2010 by TripAdvisor, the world’s top rated online tourism guide, vacation rentals have emerged as a popular choice for travelers in 2010. The Trip Advisor survey attributes this growing trend to vacationers seeking greater value and more varied amenities when choosing their accommodation.
In a survey of over 1,000 American participants, results illustrated how 68 percent of travelers are either planning or considering staying at a beach vacation rental in 2010. These figures show a marked increase of 52 percent compared to past renters who said they opted for a vacation rental or villa in 2009.
Interestingly, almost ninety percent of surveyed travelers said that a vacation rental would be their primary choice over a hotel if it offered better value. Search statistics covering the months of December 09 to January 2010 show a marked increase of 123 percent. This is reflected in the survey results from Trip Advisor, “Vacation rentals are emerging as a popular accommodation choice for travelers in 2010, because of both their wealth of amenities and the great value they offer compared with other lodging options,” said Hank Hudepohl, director of vacation rentals at TripAdvisor.
As a result of the worldwide economic crisis, real estate experts suggest more buyers are purchasing vacation rental properties and hiring management companies to ensure a return on their investment. The Costa Rican real estate market reports a steady increase in vacation rental sales for the last quarter of 2010.
Realtors in the Costa Rican Central Pacific beach location of Manuel Antonio report an increase in luxury property sales. “We have seen a steady improvement. While we are still not back to the boom status that occurred in 2007, properties that exhibit good value are beginning to sell at an increased rate. Residences in Playa Manuel Antonio have proven to be solid investments which hold their market value. If you want to see an immediate return on your investment with vacation rental income, then this is your best bet.” Richard Lemire, Coldwell Banker Real Estate, Manuel Antonio.
The availability of prime properties, excellent prices and a guaranteed return after purchase ensure a secure asset during such uncertain times. A slow economy and real estate market make it the perfect time to buy a vacation rental property.
“Vacation properties have the ability to pay for themselves, and owners often earn a profit in rental income. The investment comes with the desirable perk of having a place at the beach or in the mountains to call your own. There has never been a better time to buy a vacation home, it’s like the planets have all lined up perfectly.” says Christine Karpinski, author of How to Rent Vacation Properties by Owner, 2nd Edition.
Of course purchasing a lucrative vacation rental is all about the location and Manuel Antonio, Costa Rica continues to be popular with tourists; this beautiful paradise was recognized as a top beach and sun vacation destination for 2010 by the Travelers Choice awards. Set against a backdrop of rich green foothills and flourishing rainforest, rich in biodiversity, it is an ideal beach destination and although Manuel Antonio National Park is the smallest in Costa Rica it receives the most visitors. Initial figures from the Costa Rican National Tourism Institute (Instituto Costariccense de Turismo) show that despite the economic downturn, 2010 has been a promising year for the Costa Rican and Manuel Antonio Tourism Industry
And vacation rentals continue to be a popular accommodation choice for visitors to Manuel Antonio. Costa Rican vacation rental operators agree that bookings have increased compared to 2009. “We believe it is reflective of the times, more travelers are looking towards exclusive and unique beach vacation rentals,” affirmed Sara Hopkins, spokesperson for Escape Villas, a leading vacation rental management company located in Costa Rica.
Escape Villas offers a premium management service for owners interested in promoting their property as a vacation rental. Their user friendly website offers concise information on listed properties as well as detailed descriptions of their locations and available tours and activities. “The Trip Advisor survey is reflective of the increase not only bookings but in enquiries we have received from property owners who are interested in our management services. We would advise any vacation rental investor to research their location well and ensure they allow adequate time for advertising for peak seasons. Internet advertising offers the widest audience and this ensures consistent rental of properties,” added Hopkins.
Escape Villas Costa Rica, offers exclusive rentals in Manuel Antonio and has been operating in Costa Rica for over ten years. They attribute their success to the incorporation of a wide range of concierge services and a vast portfolio of vacation rentals. Experienced chefs, chauffeur services and tour programming are just some of the benefits of an Escape Villas Costa Rica beach rental property. Taking into account the availability of property at good value and an increased interest in vacation rental properties it seems that now is the perfect time to invest in Manuel Antonio, Costa Rica.
Editor’s Note 20 Nov 2011: Escape Villas has recently expanded to include vacation rental villas in Puerto Vallarta, Mexico at www.evillasvallarta.com. They also hope to expand to other areas within the year.
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