You might think that the Coronavirus pandemic has had a negative impact on investment, with entrepreneurs and those typically proactive with their finances choosing instead to take a back seat and be more conservative with their funds. However, not only are some arms of investment more active than ever before, but there are newfound windows of opportunity in certain asset classes, such as property.
The buy-to-let property investment market in the UK has become an extremely lucrative prospect in recent years, not just for those in the vicinity of the up and coming areas/cities but also those living in different countries around the world that want to get in on the market from afar as it grows and develops.
Interested in finding out more about the UK property market? Here’s a short guide for international investors with a few points that you might want to consider. Read on to find out more!
How do I find the best investment areas?
Being far removed from some of the ongoings in the UK, it might seem difficult to find the best areas to purchase property that will offer you the best chances of investment success down the line. Many international buyers show interest in areas in London when looking at the UK, due to its global influence and tourism popularity.
However, looking at the vast amount of research and market forecasts out there will reveal that going northwards to cities like Liverpool and Manchester is often the answer.
Not only do these northern cities tend to offer better house price growth projection, meaning that your investment will grow in value steadily over time (at a better rate than in the capital), but the monthly rental yield percentages are also typically higher. This means you’ll stand to make a better consistent secondary income on rental payments. As a tip, make sure that you do your research on different areas, and get in touch with someone who can give you clear advice if you’re unsure.
What’s the best type of investment strategy for you?
For international/overseas investors that have their own projects to focus on and can’t necessarily get involved with their property as much as a landlord living locally, a hands-off investment strategy is often the smartest thing to go with. Having an on-hand company on-site to deal with all day to day issues that a tenant might have will ensure that you can focus on yourself and collect the rental payments, knowing that your investment is well looked after.
How can you get involved with property investment from afar?
Stopping many of us from going out normally, the COVID-19 pandemic has revealed how useful and relied upon technology is to continue investment markets from afar, and this is something that successful international investors have already been leveraging for quite a while at this point.
Through VR viewings and appointments, such as the ones offered by property investment company RWinvest, investors and prospective landlords can get a ‘next best thing’ viewing from the comfort of their own home, providing they have the supporting and easily-accessible smartphone technology (which most of us have in this day and age).
Accompanied by detailed documents and guides on the investment project that you’re looking into, and regular updates on a developing project that is still in its construction phase, you can stay as well-informed as possible from afar, without even having to visit your overseas investment prospects on a regular basis. Many are already using these strategies to leverage international markets while staying focused on their work at home jobs, enjoying a diverse financial portfolio as a result.