If the property is predominantly owner-occupied, the sales comparison approach is usually applied, provided sufficient comparative data is available in the respective holiday area.
In the case of regular tourist letting, on the other hand, the achievable income from short-term rentals becomes the focus, whereby seasonal occupancy fluctuations must be realistically assessed.
Special features such as holiday home bylaws, municipal usage restrictions or a possible second home tax can additionally affect the value and should be taken into account in the appraisal report.
For holiday properties with commercial letting via platforms, realistic comparative figures on occupancy and achievable daily rates of comparable properties in the region should also be used.
Local legal frameworks, such as a municipal bylaw against misappropriation of housing (Zweckentfremdungssatzung) or restrictions on short-term rentals, can additionally affect future usability and therefore the value.
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