Investing in property for buy to let purposes can be an incredibly worthwhile and lucrative venture. The UK is one of the best places in the world for property investment, with the buy to let market in a number of cities such as Liverpool and Manchester offering impressive rental yields and increasing demand. If you’re keen to explore the UK property market even further and are considering making your own investment, take a look at this guide I’ve created with the help of RW Invest to discover some of the best type of properties to go for…
STUDENT ACCOMMODATION
The Purpose Built Student Accommodation market is thriving in the UK. It is worth £46 billion, which is expected to grow 17% further by the end of 2018. Student accommodation is so popular due to the demand from an ever-increasing student population heading to the prestigious institutions around the UK. In Liverpool and Manchester, student numbers are some of the highest in the UK, with over 70,000 students in Liverpool alone. Students are seeking quality accommodation to rent during their studies, with a recent focus on more luxury, high-end apartments with useful amenities like high-speed internet, modern and stylish decor, and proximity to the city centre. Student properties in prime UK cities can be found with property investment company RW Invest, which come with fantastic prices and attractive rental yields.
RESIDENTIAL APARTMENTS
If you’re leaning more towards residential buy to let property, rather than targeting students, high-quality rental apartments are always a good route to take. Young professionals are a growing type of tenant in the UK, particularly in thriving cities like Manchester and Leeds. This type of tenant is ideal for investors as they are usually willing to spend more on the right property, which is typically spacious, modern, and close to their workplace. Since younger people are now choosing to rent for a lot longer than in the past, the demand for city centre residential properties is always high. Furthermore, people may be more likely to rent your property on a long-term basis which saves you the hassle of sourcing new tenants.
‘FIXER UPPER’ HOMES
A fixer-upper home is when an investor purchases a flat or house that’s in poor condition and transforms it to look good as new. This is a great strategy as it allows investors to rent the property out or sell it for a lot more than the initial purchase price. Properties in more suburban areas are often a good idea for this buy to let process, appealing to a different market of families or older tenants. Unlike investing in a new build that’s modern and well maintained from the get-go, however, making a successful investment on a fixer-upper property requires a lot of creativity and expert knowledge. If this is something you think you can manage, it’s worth looking into this method of property investment, but if not, there are plenty of other fantastic investment opportunities available too.
I hope that these tips have helped you if you’re planning to invest in property in the future. Thanks to RW Invest for sharing their expert knowledge on the subject with me so that I can pass on this valuable information to you!
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