According to a BBC report, the number of holiday lets in England rose by more than 40% between 2020 and 2023 – and all signs point to this trend continuing into 2025.

This development reflects a shift in priorities for many UK buyers: investing in local retreats, exploring new income strategies, and enjoying greater flexibility when travelling. In this article, we explore the key drivers behind the rise in holiday home ownership and how innovative models like co-ownership – especially MYNE’s – are paving the way for smarter property use.

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Why Holiday Properties Are More Relevant Than Ever

Holiday homes have long been a desirable investment for British buyers. But since the pandemic, their significance has changed – driven by rising living costs and uncertain travel conditions.

Key market drivers include:

• A growing preference for UK-based getaways (52% of Brits chose domestic holidays in 2024)

• Increasing demand for alternative investment assets

• Professionalisation of short-term rentals through digital platforms

• Rise of co-ownership as an affordable, flexible form of ownership
  

The 4 Main Reasons Behind the Growth

1. Rising cost of living and expensive travel

Flight prices have increased by 25% in 2024, and rents, energy, and grocery prices continue to climb. As a result, more people are opting for holidays at home – and buying properties in regions like Norfolk, North Devon, or the Isle of Wight.

2. Attractive additional income

Between 2018/2019 and 2022/2023, income from furnished holiday lets rose by 68%. Platforms like Airbnb and Booking.com allow owners to achieve occupancy rates of over 80% – particularly in high-demand locations like Cornwall, Edinburgh, or London.

3. Tax advantages for furnished holiday rentals

While subject to change, the current tax structure still benefits furnished holiday rentals. Owners can deduct full mortgage interest from profits and claim capital allowances on refurbishments, resulting in lower tax bills and higher net returns than traditional buy-to-rent.

4. Growing demand for co-ownership

Shared ownership of holiday homes is on the rise, driven by the success of companies like MYNE. The co-ownership model allows individuals to buy shares (e.g., ⅛) in premium properties abroad—opening access to European real estate for a fraction of the cost.

How MYNE Solves Key Challenges

MYNE is one of Europe’s leading co-ownership platforms. Buyers acquire shares in high-end holiday properties in top destinations like Mallorca, South Tyrol, or the Algarve – at a fraction of the cost of full ownership.

Benefits of MYNE’s model include:

• Lower upfront investment: Only pay for what you use (e.g. 1/8 of the home)

• Professional property management: MYNE handles maintenance, cleaning, and furnishings

• Shared ongoing costs: Operating expenses are split among owners

• Flexibility: Owners can exchange usage rights to enjoy multiple properties

This co-ownership approach provides access to premium real estate while offering financial efficiency, convenience, and lifestyle flexibility.

Why now is the right time for co-ownership

The market is clearly trending upward: domestic tourism is on the rise, short-term rentals offer high returns, and traditional ownership models often no longer fit today’s lifestyles. Many second homes remain underused – a challenge co-ownership effectively solves.

MYNE Co-Ownership offers a modern solution: a way to enjoy the benefits of a holiday home without the burden of sole responsibility. Co-Owners can solely focus on experience and returns—while the logistics are taken care of.