Whilst owning a second property gives you somewhere to escape to, the global pandemic has forced people to think about how best to futureproof his or her finances. According to Savills, the possibility of benefitting from rental returns is now becoming one of the primary drivers for second home purchases.
With the popularity of second homes on the rise, we look at the factors that consumers seek in their ideal second home in order to benefit from rental returns, and how the Residences at the Hard Rock Hotel Davos meet these requirements:
Air and train routes continue to have a profound impact on where people want to go and where people want to buy. Often, when escaping for a getaway, many consumers prefer to rely on public transportation to get them to their location and out once they have anchored down. Proximity to shops, restaurants, and local cultural attractions are also extremely important to consumers. The Residences at the Hard Rock Hotel Davos has the perfect location to be the gateway to fun, frolic and unforgettable experiences, being just a stone's throw from the Promenade — the main hub for shopping and entertainment in Davos. With cycling routes and access to the main ski slopes available at your doorstep, owners of the Residences will find themselves in the heart of all the action.
Indoor / outdoor living with a view
Property-specific requirements, such as balconies and terraces are of huge importance to potential buyers. Having the ability to be outdoors from the comfort of your home, with access to a striking view – is the ultimate dream. The Residences at the Hard Rock Hotel Davos has this in spades. All Residences have a private balcony for owners to enjoy, with fabulous views of the snow-capped Swiss Alps.
Access to technology
Living in the digital age, means the availability of broadband is one of the most important features cited by owners when choosing a property, according to Savills. In the age of connectivity, fast and reliable broadband is key, a factor common across all nationalities and ages. The Residences at the Hard Rock Hotel Davos is set up so that those wishing to maintain digital connectivity can do so with ease. Meeting rooms are also available to owners of the Residences, should there be an extra requirement for boardroom facilities.
For most buyers, purchasing a second home is a long-term investment. Just 8% of owners intend to sell within the next year, and 12% in the next two to five years. With just 20% of the market potentially available for sale in the next five years, the average owner is likely to hold for around 25 years. In an era of low interest rates and modest capital growth, it is no surprise that the majority of buyers (43%) opt to let their property as an income generator. With the Residences at the Hard Rock Hotel Davos, the hotel team, making it even easier to generate returns from your investment, manages all the administration involved with renting your property.
Speak to our team to find out more.