Customer Value of Second Home Ownership: Insights from a Mature Market (Switzerland)

Abstract

This paper discusses the customer value of second home ownership. Because non-rented second homes are an increasing problem in many Swiss alpine destinations (under-utilisation of costly communal infrastructure, visual impairment, loss of potential income from visitors) an investigation into the drivers and barriers of renting out second homes is needed. This study presents the results from approximately 50 in-depth interviews using the means-end approach in a hierarchical value map. The results reveals that the prime reason for renting out second homes is economic, and the reasons people do not rent out are psychological. Therefore, measures to increase the willingness to rent include economic incentives, but also reducing psychological barriers.