Have you ever wondered …what are the benefits of investing in an apartment?
There are a huge number of options available for buy to let property investors, from terraced houses to student flats to city centre apartments. Each has unique benefits, but apartments have recently been one of the most popular and profitable choices for property investors in the UK. There are a number of reasons why investing in an apartment is a great financial strategy, and this post considers what makes an apartment such a great investment.
What are the Benefits of investing in an Apartment?
High Rental Yields
One reason why investing in an apartment is especially lucrative is the high rental yields that these types of property offer investors. Rental yields measure how much a property earns in relation to the purchase price and the higher rental yields the better when it comes to property investment. Property investment specialists RW Invest have a range of high quality buy to let apartments with significantly higher rental yields than other investment properties on the market. With rental yields of up to 9%, apartments can offer prospective investors incredibly lucrative opportunities for rental returns.
Another benefit to investing in an apartment is the extra amenities and benefits that your tenants can access when living in a high-end apartment building. Modern apartment buildings, often called serviced apartments, offer a far more varied living experience than those that are available from a standard house. With features like on-site gyms, 24-hour concierge services, recreational spaces, rooftop gardens, and housekeeping services, the appeal of living in a modern apartment building is obvious. For busy young professionals, this type of apartment living is incredibly popular and they are often willing to pay premium for access to these kinds of extra amenities.
With so much development occurring in city centres across the UK, space is starting to run out. Developers are finding it harder to access great central land to build on, so when they do find it, building up is a lot more lucrative than building out. Because of this, if you are looking for a city centre property in a prestigious location, you are far more likely to find an apartment that will suit your needs than any other property. Apartment living is now one of the most common types of city centre accommodation available and many tenants are willing to sacrifice space in order to live in the very best city centre locations.
The UK has taken longer to adopt the apartment lifestyle than many other countries, with many people viewing a traditional house as the only option. However, things are changing, especially with a new generation of young professionals and graduates who may have travelled and lived in apartments in other countries. This means that apartments are now one of the most popular choices for younger people in the UK, and the appeal of modern apartment living is growing rapidly. Hailed by some as the antidote to the UK housing crisis, apartments offer a logical and lasting solution to the lack of quality housing available. As more and more people start to see the benefits of living in an apartment, the value of apartments purchased now is likely to go up immensely. With increased tenant demand comes rental rises too, which mean that investing in apartments now is a great move for the future.
I hope this has answered the question What are the Benefits of investing in an Apartment for you.
Further reading: A beginners guide to investing