Have you ever considered relocating to Belfast? The capital of Northern Ireland, situated in the east of this picturesque country has become attractive to both home buyers and property investors. The budget-friendly prices of houses and flats in this charming city encourage homebuyers to relocate and capitalists to invest in buy-to-let estates.
Regardless of the purpose of purchasing an estate in Belfast, you have to be familiar with the real estate market. There is a vast selection of real estate agents, such as Your Property Geeks – estate agents, assisting clients in home sales, and management of rental properties.
These are the reasons why the Belfast real estate market has experienced popularity.
Remarkable city growth
Even though Belfast wasn’t considered an attractive option for living decades ago, it has flourished into a vibrant business and tourist center during the last decade. Real estate agents encourage clients to invest in a property in Northern Ireland’s capital, as it has become a magnet for young professionals looking for a place to live.
Additionally, the Belfast real estate market is particularly appealing to young people, as approximately half of its population is no older than thirty. The problematic past of this capital no longer affects its growth, as the city has been subjected to rebuilding and infrastructure improvements.
In fact, its infrastructure is nowadays thought to be one of the most modern systems in the United Kingdom. Transport links continue to expand and get upgraded to meet the requirements of the increasing population.
Affordable residential properties
Another reason why real estate agents recommend the Belfast market to clients is the affordable price of residential properties. In spite of the growing population in Northern Ireland’s capital, the cost of these estates has remained reasonable and budget-friendly for most homebuyers.
Furthermore, the local authorities have certainly done their best to increase the number of houses and apartments in order to keep property prices affordable. This isn’t the case in other capitals like Dublin, which has experienced sudden inflation of such prices. It’s far more affordable for homebuyers to invest in a home in a fast-growing city like Belfast than somewhere in the Midlands. Click here to check out some interesting reasons for moving to Belfast.
High demand for rental properties
Real estate investors would benefit by investing in buy-to-let estates in this capital owing to the remarkable growth of the rental sector. Since most people aren’t ready to purchase a house or apartment soon after relocating here, they opt for renting a place until they settle down. Given the growing number of students, tourists, and young people looking for a career, the demand for rental accommodation is higher than ever.
Additionally, the Belfast property market has become appealing to buy-to-let investors from everywhere in the UK, not just to those from Northern Ireland. Investors with a limited budget are provided with an opportunity to purchase houses and apartments at affordable prices for the purpose of renting them to the young population.
Rental yield is remarkably high, one of the highest in the United Kingdom. Investors are to earn high profits by renting their buy-to-let flats and houses to tenants. In contrast to the low property prices, the cost of rent in this city is substantially higher. Hence, the rental yield in Northern Ireland’s capital is ranked among the first five in the UK.
An attractive tourist destination
The spectacular architecture, tasty food, and rich culture of Belfast have transformed it into a thriving tourist destination. The abundance of castles and breath-taking coastlines appeal to a growing number of international visitors. This capital offers a myriad of sightseeing opportunities and possibilities for tourists to enjoy the plethora of museums and theatres. Check out this link, https://www.planetware.com/tourist-attractions-/belfast-ni-ant-belfas.htm, for some of the top-rated tourist attractions in this capital.
Therefore, investing in a buy-to-let property in order to rent it out to tourists can be a lucrative opportunity for investors. The number of holidaymakers visiting this country keeps on increasing, which goes in favor of making such an investment.
The right real estate agent will help you purchase or sell estates in Belfast.
It’s a city of lucrative opportunities!