Buy-to-let market: The number of UK property tycoons set to double by 2010

For many young Brits the prospect of owning their first home is just plain wishful thinking. But adding insult to injury for these wannabe first time buyers, latest research from MINTEL finds that today as many 2 million UK homeowners (7%) own a second home in the UK or abroad. At present one million of these real estate moguls (3% of homeowners) are buy-to-let landlords, owning property in the UK that they let out, while the rest simply enjoy the luxury of having more than one place they can call home. Looking to the future, MINTEL’s research shows that within the next 3 years, a further one million homeowners (3%) want to have another property in the UK that they can let out, so doubling the total UK buy-to-let market by 2010.