Summer rental activity up in Hamptons, Martha’s Vineyard

New York /
Jun.June 01, 2010 05:30 PM

At left, 39 Cobb Hill Lane in the Hamptons, and Martha’s Vineyard

Families seeking summer rentals in the Hamptons and Martha’s Vineyard might be disappointed since brokers said that many of the best properties were locked up months ago, according to the Wall Street Journal. “Some companies have reported
advanced bookings increased as much as 60 to 80 percent over last season,” said Alex Risser, president of the Vacation Rental Managers Association, a non-profit entity that manages 150,000 vacation rentals. The Northeast market is performing especially well this year, due to rising consumer confidence and stronger economic growth. The summer rental market is
also benefiting as consumer tastes increasingly move away from hotel rooms toward rental homes and condos, which offer more space and cost savings. Vacation rental website HomeAway.com says that inquires about rentals in the Hamptons are running 55 percent higher than the same period last year, one of the biggest gains among the destinations tracked. Requests for vacation rental information on Martha’s Vineyard are up 14 percent. Although availability in both places iis low, Alexis de Belloy, vice president of HomeAway.com, said there are still properties available for families willing to be flexible. [WSJ]

 

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