Property investors looking make a profit in London’s tight real estate marketing should pay attention to a report recently put out by Property Industry Eye earlier this week. For those in the looking for a longer term investment with rental property, here are two important insights you will want to look at when looking at investing in lettings market in London.
‘Generation Rent’ is permanent, not temporary
For young adults, aged 25-34, renting is looking like it will become a longer term situation, as opposed to previous generations that may have been able to buy a residential property at a young age.
As such, it’s going to become important to ensure that your rental properties are at the highest quality possible, as this age range will become pickier as they age. It’s unlikely the rents will decrease in demand areas, but you may be hard-pressed to offer a lackluster property for higher prices.
High-speed internet access is a high demand amenity
In almost every demographic, except older people and retirees, high-speed internet/broadband service is the amenity that is looked for the most. Ensuring that your residential units have the hook-ups to connect to broadband providers will increase your unit’s appeal on the market.
Access to public transportation and proximity to food and culture are second and third for all demographics as well. Properties in London that aren’t close to Transport for London services may suffer from a lack of prospective tenants, so if you’re looking to invest in the capital, do your research.
If you’re interested in investing in London’s property market, contact us at Copperstones and our professional, award-winning team will assist you throughout the entire process.