Yep. You should see the situation in beautiful yet remote places like the Isle of Skye in Scotland or the Outer Hebrides. If you have some land, it's a no brainer to build a holiday rental. A pre-fab will cost you maybe 120k (after the land) and it's k/week or more during peak season to rent it out.
Of course, it means prices are going insane. A complete wreck of a house we were interested in buying and turning into an actual home which I thought would be worth max 200k went for 450, cash, from a buyer who never even saw it.
They'll tear it down, stick a new house on it, and make their investment back in 5 years.
Meanwhile, all the locals kids, go away and don't come back. What is there for them there anymore? Not a lot.
Of course, it means prices are going insane. A complete wreck of a house we were interested in buying and turning into an actual home which I thought would be worth max 200k went for 450, cash, from a buyer who never even saw it.
They'll tear it down, stick a new house on it, and make their investment back in 5 years.
Meanwhile, all the locals kids, go away and don't come back. What is there for them there anymore? Not a lot.