With fewer young people now able to save up enough money to put down a deposit on a first home, there are currently many cheap properties for sale in the UK real estate market. This is great news for investors or those who can get approval for a mortgage. Once you start looking at estate agent websites, you will see many properties have been on the market for many months, which means you can often save a lot of money by putting in an offer well below the asking price.
What’s more, since the Brexit vote, pound sterling has dropped in value, which is good news for foreign investors. There are some very cheap properties available to those who have the capital to invest. In addition, in large cities, like Manchester, Leeds, Edinburgh and London, property investors can make big returns by entering the rental marketplace. There is a big housing shortest in the UK, meaning rents are high, and it is said to get worse in the coming decades, so now is the time to buy.
So far we have only really talked about residential proprieties, but the truth is that UK commercial real estate is also a good investment. You will find many hotels and shops are up for sale for below market value. This is because many businesses struggled to recover from the 2008 recession and are desperate to sell up shop. If you know how to complete planning permission applications, you could stand to make big profits by converting business properties into different types of facilities. A hotel, for example, could be repurposed into ten or more 2 bedroom luxury apartments.
There are many real estate agents in operation in the UK and it’s important to check out the websites of all the main ones to ensure you don’t miss out on any property listings. Many properties are now sold via auction or sealed bids, so make sure you seek professional advice as to how to approach those types of sales as a buyer. In addition, keep in mind that many individuals are now forgoing estate agents and attempting to sell their homes online independently.
There are lots of great property investment opportunities in the UK for investors with a wide range of budgets. If you are new to the property investment marketplace, uk house prices vary so much, however, you could start off investing in some very cheap properties in northern coastal towns.