Property has always been one of the most popular types of investment. Landlord’s with multiple properties have been making a huge profit on their properties for years, but with the current climate being so unpredictable, the future of property investments looks volatile. If you’re thinking of investing property, here’s a look at the most viable types of property investments in the current climate:
Overseas Holiday Homes
With changes to the stamp duty tax introduced in the UK this April, having a second home in the UK as a property investment is no longer the best option for making money. As a result, owning an overseas holiday home is a much more viable property investment and one of the best ways to make a decent ROI. The best way to make a profit on your overseas holiday home is by choosing a property in a desirable location and keeping up with competitive rental prices. Use the Currency Fair calculator to work out the type of profit you could be making overseas.
Student Rental Properties
One of the ways to get around the stamp duty tax and still make money is investing in the student property market. As the student property market works by having multiple occupancy homes, there’s much more scope to make a bigger profit than in the traditional rental market. With students each paying the rent for their individual room, the ROI is instantly much bigger than on a standard rental property. Student properties in university towns are always in high demand and usually occupied for 9 months of the year, so it’s a definite way to secure a steady income.
With traditional property investment no longer a safe bet, looking at different types of property investment is wise in the current climate. Buying a motorhome to rent out is a particularly lucrative investment, as the lifestyle has had a recent surge in popularity. Motorhomes are now more luxurious than ever and were a really popular choice of travel for the recent Euro tournament.
With the current climate being so unpredictable, diversifying when it comes to property investments is the only way that you can be sure to protect your finances. Until the UK economy is more stable and the property market becomes profitable again, investing in these more viable property investments as an alternative is a wise choice.