If you own a holiday home and let it out, then what are your reasons for doing so? There may be a number of reasons involved in your decision to put your holiday home on the lettings market, not least the desire for an extra income. According to a recent survey of over 3,000 holiday home owners, many people now let their holiday homes out of necessity.

The survey results show that 43% of people said they’d entered the lettings market out of necessity to cover essential costs, such as their mortgage, taxes and maintenance. A similar survey conducted by the same company in December 2007 found that only 30% of people let their property because they had to. This increase in the need to rent out a property is possibly reflected in the change of economic situation and the fact that more people have taken the chance to buy properties abroad.

Another top reason for letting a holiday home, cited by 41% of respondents, was being because they realised the added value of their second property as a means to generate income.

As far as the initial financing of their property goes, one third of the survey respondents said they had a mortgage loan to value (LTV) of 75% or more – and nearly 10% of people had a 90% LTV or more – and 27% had a local currency mortgage (Euro). Thirty-five per cent of people paid for their property purchase from cash or savings, 17% through remortgaging and 4% through inheritance.

The good news was that many people did say they were having success with letting out their properties. Over a third of people said they managed to fill their property for more than 25 weeks of the year with paying guests, whilst 50% said they achieved 18 weeks per year of lettings.

If you’re interested in letting out a property as a holiday home, take a look at our guide to letting a property abroad.

Do you already own an international property that you’re letting out? What are your reasons for doing so? What kind of success are you having?

Moving abroad to work and start a new life is a big step, but one that many people choose each year. Some even go one step further and start a new business abroad too.
If you’re looking to move abroad full-time and are after some inspiration and ideas as to what you could do work-wise, then here are some links to tales of people who’ve already taken the plunge.

For the couple in this feature, it was an olive grove in the Le Marche area of eastern Italy that caught their eye. They offer some insight into what it’s really like moving from high-earning, stable careers to working the land and growing olives for a living.

Owning a vineyard and getting into wine production is also a common theme amongst some expats, and the British couple who run Domaine de Lauroux in France are no exception. You can read about their story on their website – their Vineyard Diary offers particular insight into the actual work involved in growing, harvesting and running a vineyard business.

Aside from growing olives or grapes, many younger Brits are heading overseas to live and work in countries such as Dubai. Here you can read what it’s really like for young Brits who’ve taken their careers to the bright lights of the United Arab Emirates.

Sadly, not every new venture abroad works out quite as planned. A feature in the Independent last week looked at the highs and lows of running a business abroad and featured a couple who bought a ski chalet and run ski breaks, plus someone who bought a riding holiday business in Spain.

When you’re considering your options for working abroad, it’s also important to assess whether you have the types of skills that your chosen country would benefit from. To find out more about how your skills could help or hinder you, then check out this article.

Golfing aficionados wanting to invest in the latest golfing hotspots may be wise to look to the island of Madeira.

Part of the Portuguese archipelago of islands in the North Atlantic, Madeira is home to about 250,000 people and is blessed with sub-tropical temperatures. The island is a popular tourist destination, so offers good possibilities for those wanting to rent out properties as holiday homes. There are already golf courses on the island, but golfing interest is set to be boosted, as work on two new golf courses starts in 2009.

Designed by golfing hero, Nick Faldo of Faldo Design, the two new courses will be located in Ponta do Pargo, on the western side of the island. One will be an 18-hole signature championship course and the other an 18-hole park course, plus they’ll be a golf academy training centre for golf players of all ages and abilities. It’s expected that work will be completed and the courses opened in 2011. Already, land and homes in the vicinity of the planned courses is being snapped up and new residential developments are being built.

The two new golf course additions will bring the total on the island up to four (the other two are a 27-hole course at Santo da Serra, which looks over the bay of Machico, and an 18-hole course with 6-hole golf academy at Palherio, 500m above the capital city of Funchal). However, there are also rumours abound that Seve Ballesteros may design a further course for the Sao Vicente area of Madeira.

It’s a relatively small nation located on the western side of the Caribbean, bordering Mexico in the north, Guatemala in the west and Honduras to the south, but there are some great reasons why Belize is well worth exploring by property investors. Here are five.

1. Property prices have increased in Belize over the last year or so, thanks to the country increasing its profile on the tourist map. In 2007, for example, a 15% annual increase in property in urban areas was recorded, with a 30% increase in coastal areas. As it still regarded as one of the world’s emerging property markets, many property prices are still low, but could well see more rises.

2. Tourism and interest in Belize is increasing, which is in turn upping the need for good rental properties. Rental yields are estimated as being between 4% and 9%.

3. English is the main language spoken in Belize, which is a major attraction for UK investors. It helps avoid any difficulties with understanding language and makes property transactions easier.

4. Foreign buyers are able to easily purchase property in Belize. Plus, there’s the added bonus of favourable taxes – there’s no capital gains tax or inheritance tax to pay.

5. Eco-tourism is a big focus in Belize and even Hollywood actor Leonardo DiCaprio is getting in on the act. He’s been the proud owner of his own £1.15m island off Belize since 2005 and is working in conjunction with the Four Seasons Hotel group to turn it into an eco-friendly resort. A celebrity endorsement can work wonders for boosting the property profile of a country, so Belize could do well from his involvement.

If you’re interested, take a look at the property on offer in Belize.

There’s more good news on the horizon for yachting fans and boat owners, as the Mediterranean island of Cyprus is turning its sights to creating several magnificent new marinas.

With the increasing appeal of marinas and marina property, a number of new top notch marinas are being created on the island, to help boost tourism and interest in property. The new marinas are set to be located at the major resorts of Limassol, Larnaca, Ayia Napa and, Paphos, plus a smaller marina at Zygi, and between them will create thousands of new berths for yachts, plus high class leisure facilities and new property.

Various consortiums of private companies are involved in the creation of the marinas, with some still in the tendering process. The biggest by far will be at Limassol, which has recently been awarded to the Zenon consortium, and construction starts in early 2009.

The grand plans for the Limassol marina include a man-made artificial island, with 600 berths, plus 400 berths on the mainland. It will be located near the centre of Limassol and carefully designed to complement the old harbour, old town and medieval castle.

At the new Larnaca marina, which is expected to have at least 900 berths, it will also be able to accommodate the so-called super yachts, measuring over 35 metres in length, and host a terminal for cruise liners. Larnaca is already an important port on the island, but can only accommodate 200 boats, so it will be a massive improvement.

With the start of a new year, it’s somewhat traditional to look ahead and explore where overseas property buyers are likely to be looking this year.

With the pound currently weak against the Euro, this is already having an impact on the expense of travel. As a knock-on effect, experts are predicting that people will be looking further afield than the traditional Euro-zone countries this year, both for holidays and property buying. For example, countries such Egypt, Morocco and Turkey all offer better value for money for travellers, so may prove a good option for foreign property holiday lets.

According to ABTA, they saw a significant increase in demand for holidays abroad to Egypt in 2008, with interest rising by 38%. Interest in Turkey wasn’t far behind, with an increase by 32%. It’s also worth nothing that airlines such as Ryanair and easyJet have increased the frequency of their flights to Morocco and Turkey in the last 18 months.

In a similar vein, some of the countries being highlighted by various experts as looking promising in 2009 include Panama, Brazil and Malaysia. Panama, in Latin America, has already been experiencing a surge in popularity, especially with US and now UK buyers, as it’s a major location for international businesses. Property-wise, there’s a good choice of options available, whether you want to live in the heart of the city or right by the sea, and it’s got the bonus of having good tax laws.

Brazil is another country that’s also been growing in popularity recently. A lot of investment has been going on in the country, including a new airport in Natal and numerous golf courses. It’s the northeast area of the country that’s most accessible for UK visitors, but when the near airport is open, accessibility will be improved even more.

In comparison, Malaysia, in south-east Asia, is more of a newcomer to those interested in international property. But some people believe we’ll be hearing more about in the coming year.

Wherever you’re thinking of buying, remember to do your homework, avoid buying blind and carefully check out the area you’re considering before parting with your well earned cash. Happy investing!