Booming Belfast brings buy-to-let property investors bounding towards it
- House price rises of 4% predicted for Northern Ireland in 2014 (RICS)
- Rental transactions up 6.4% (Northern Ireland Housing Executive)
- Returns of more than 250% in just five years on Belfast property (Property Frontiers)
“The trajectory of house prices in Northern Ireland is continuing to broadly align with the wider economic picture, as a range of indicators are pointing to positive growth.
“The evidence is that overall transaction levels are also picking up, something that we expect to see continuing into the spring and summer months, when the market is traditionally busier.”
So speaks Samuel Dickey, spokesperson for RICS, about Northern Ireland’s blossoming property market. Having been hit hard by the global recession, the market has taken some time to truly establish its recovery, but now it seems that prices have finally bottomed out and begun to rise again.
The news has drawn the attention of global investors looking to benefit from the country’s lowered prices to expand their property portfolios. At the same time as Northern Ireland’s property prices are offering excellent value for money, its private rented sector is expanding hugely, creating the perfect environment for buy-to-let landlords. Ray Withers, Chief Executive of specialist property investment company Property Frontiers, comments,
“RICS has predicted house price rises of 4% for Northern Ireland during 2014, providing strong potential for investors to grow their capital through the country’s property sector. Rental yields also look promising for buy-to-let properties, with Census data showing an increase in the private rented sector of 128% in the decade to 2011.
“In the first six months of 2014 alone, this trend can be seen continuing, with an increase in rental transactions of 6.4% over the first half of the year, according to the Northern Ireland Housing Executive. There has rarely been a more encouraging set of circumstances, so far as buy-to-let investment has been concerned.”
According to Withers, Belfast is the place to focus on when it comes to property investment at present. Prices there reduced by 45% between July 2008 and June 2014, according to Home.co.uk. However, figures from Zoopla show that the city has finally turned a corner, with an average property price rise of 8.7% in Belfast over the past 12 months.
Ever responsive to such incredible opportunities, Property Frontiers has just launched its latest set of exclusive buy-to-let apartments, close to Belfast’s popular Titanic Quarter and within walking distance of the city centre. The 56 elegant, spacious apartments at the Sandford are available at 16% below RICS valuation, from the discounted price of £96,000 for a one bedroom apartment, rising to £117,000 for a two bedroom penthouse.
Expected yields of 9%, back up by a recent valuation, mean that as a long-term prospect, investment in the Sandford could deliver up to an exceptional 253% over the next five years. The incredible opportunity is described in more detail in the new downloadable Insight Guide from Property Frontiers.
For further details contact Property Frontiers or call +44 1865 202 700 to request a copy of the Insight Guide.