Why Invest in property in Wales?
So you have tried to find properties in the UK that stack up financially but although you’ve heard about Wales and its attractive property investment scene, it’s a hard nut to crack right, we know, we have been there too. It`s an uphill struggle knowing what area to invest in, what sort of property rents in that area and what are the pitfalls of bargain properties? Don`t worry help is at hand. Prop Source Wales will sniff out the best deals and get that all important BMV property for you to invest in.
Wales is a picturesque and rural little country, the land of song, rolling green valleys and mountains, coal and of course property. An increasing amount of financial establishments have now realised the positives of investing in the property market here in Wales.
But it hasn’t always been like this.
It’s the industrial revolution that we must thank for this excellent property investment opportunity, with large numbers of housing developments and communities erected in the sheer valleys to capitalize on the coal boom of the late 19th century. These areas have been in decline ever since the demise of the coal industry in the 70`s and 80`s which equates to many streets and villages now needing investment, regeneration and modernisation, offering the investor a great opportunity.
South Wales is a great place to invest, with lower house prices than many other parts of the UK, a high rental demand and a lack of rental properties. It has a vast array of choices to suit all budgets from single occupancy flats, shared accommodation, student accommodation, HMO rentals, upmarket marina townhouses and plenty of farmhouses with outbuildings ripe for renovation. Also in the seaside resorts there is a demand for high rental holiday letting. Depending on the strategy you choose you can get a great return on your investments with potential yields up to 15%.
There is a large student population in Swansea and therefore offer a great opportunity in the letting market as an investor. Swansea University alone has over 15,000 students from all over the world which are benefitting from brand new, state of the art University buildings.
Swansea, which acts as the capital for the South West Wales region, has been named in the Top 10 list of ‘Fastest Growing Cities in the UK‘ and voted best place to live in Wales. Attracting over 3 million visitors per year, its diversity of landscape, coastland and recreation makes tourism a significant influence on the local economy.
Contributing to the desirability of the rental market here in Wales is unemployment, which is at a steady rate and the average wage being at a level that makes getting on the property ladder a hard task, perfect conditions for the buy to let landlord and property investor.
Prop Source Wales specialises in sourcing property from Carmarthenshire, Swansea, Neath Port Talbot, Bridgend, Rhondda Cynon Taf and Cardiff. The current hotspots being Carmarthenshire, Neath Port Talbot and Swansea.