Owning a second home was a very attractive option. You have a big discount on your municipal tax. By renting it out for a few weeks, you can turn it into a business and claim all the maintenance costs for taxes. If you took out a mortgage to purchase for rent as a higher-rate taxpayer, you have actually benefited from a 40% tax credit on your mortgage costs. Given this package, it is no wonder that in the decade following the 2008 financial crisis, there were more second homes purchased than new ones built.
But in recent years, that has begun to change. Councils in England will soon be able to charge homeowners a double tax on unoccupied property. In Wales, the administration is decentralized
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