Increased demand for holiday homes creates excellent opportunities for buy-to-let investors in Cornwall
Cornwall, the English Riviera, once considered just a place for a summer vacation or weekend getaway is now proving to be a sound property investment location according to experts. The market, undoubtedly on the ‘sluggish’ side back in 2009/2010 is now experiencing strong demand for holiday homes to rent in Cornwall as well as other coastal towns in the South West according to Knight Frank, with demand up by almost 70% compared to 2010.
With spiraling costs of family holidays abroad, often over £1,000 for a typical family, it is predicted that Cornwall, voted Best UK Holiday County at the British Travel Awards, will be receiving a boost this year in tourism levels. Visitors are attracted not only to a cheaper price but to Cornwall’s balmy climate, rugged and peaceful countryside and coastal walkways, in addition to its excellent surfing spots and popular celebrity restaurants, further enhancing its popularity.
The rising numbers deciding to holiday in Cornwall has resulted in an increased demand for holiday homes to rent and with the busy summer months in our midst, this could provide a big incentive for buy-to-let investors.
With nearly a third of landlords in the UK increasing their rents at the beginning of 2011, with approximately 5% boosting their income by over 8%, there are obvious rewards to be had. This has led to rental property at the lower end of the market becoming very sought after with 18,000 families registered as looking for low cost houses to purchase or rent in the county.
Currently, North Cornwall, as visited by PM David Cameron, is proving to be an excellent property hotspot with an extensive housing inventory at the lower end of the market.
The charming seaside hamlet of St Eval on the North Cornwall coast, located between Newquay and Padstow, is an up and coming area, said to be luring in potential buyers by offering spacious, good quality properties at competitive prices.
Presenting the perfect property investment opportunity in St Eval, Property Secrets have 3 bedroom semi-detached family homes with freehold parking space available. These properties are set to be 35-45% below open market value upon completion of works and 50-60% below neighbouring village prices with a total outlay of £103,000 including legal, sourcing and refurbishment costs as well as a potentially high rental yield upon completion.
For more information on the lucrative buy-to-let opportunities available in Cornwall please contact Property Secrets on +44 (0)115 985 3963, email info@propertysecrets.net or visit www.propertysecrets.net.