Considering adding a swimming pool to your holiday cottage in the UK? Research from Mulberry Cottages has uncovered some interesting information that may help you with your decision to make this investment. We’ve looked at the high season prices of cottages and the maximum rental they achieve.
Not having a swimming pool is limiting the maximum rental you could achieve by 22% on average.
After analysing data from national and local agencies operating across southern England our findings show that you could expect an average increase in maximum rental value of 22% if you have a swimming pool. Cottages that sleep 10 can experience the biggest returns of up to 41%
Location is key and it will have an effect on the increase in value that a swimming pool will bring. In particular Kent and East Sussex can see the highest returns. Properties in the South-West show lower % increases which could be due to the quantity of self catering properties close to renowned beaches which are also likely to add value. We will look at the effect of being close to a beach in our next published research.
Wiltshire and Hampshire have a lack of supply for properties that have a swimming pool. Based on the returns seen by other counties, owners of properties in these areas should consider installing a swimming pool in order to boost their weekly rental. West Sussex could also represent an opportunity to take advantage of the high rental increases as there was a lack of properties sleeping more than four people with a swimming pool.
Higher returns are great but how about occupancy rates? Do they increase too? Our research says yes.
Looking at our data for comparable properties which sleep 10, we can see that the addition of a swimming pool also increases the occupancy rate throughout the year. Combine this with the higher maximum rental value and the costs of pool installation will soon be covered.