Manchester off-plan developments are definitely an excellent opportunity to consider.
There are so many benefits to off-plan property investment alone, such as the increased chance of capital growth and below-market rates.
Pair these with the fact that Manchester is such a thriving hotspot for investment, and it’s evident that buying off-plan property in Manchester is a smart move to make.
Let’s take a look at the benefits of investing in the many new build developments Manchester has to offer.
Investment in Off Plan Property Manchester Means Increased Growth
Since off-plan properties are still in the development stages, buying the off plan property Manchester offers may allow your property to increase in value by the time it’s been built.
The chances of this growth are then increased if the investment properties are based in a prime area surrounded by plenty of regeneration, making new builds in Greater Manchester the perfect opportunity since Manchester property forecast predictions show huge growth over the coming years.
A prime example of the potential behind buying off plan property in Manchester is with our Hollywood Manchester off-plan apartments, which are located within the MediaCityUK regeneration zone and just a short distance from Manchester city centre.
MediaCityUK is one of Greater Manchester’s biggest regeneration schemes, attracting a lot of interest and introducing many new build developments to Manchester.
Because of the location, these new build apartments in Manchester attract lots of demand from those who want to rent a flat in the city which is close to their workplace and the city centre.
Below Market Prices With Off Plan Manchester Investment
New build apartments in Manchester city centre and other popular areas like Salford also tend to come with below-market prices.
By purchasing these type of off-plan apartments in Manchester, based in a prime regeneration zone, you can benefit from accelerated capital growth on top of the North West’s already soaring house price growth rates.
This is true for our Hollywood Salford Quays development, available to purchase at below-market rates with RWinvest Manchester.
Priced from just £97,500, our Hollywood development is a great example of the below-market rates that come with the new build apartments Manchester offers, while also being reflective of the overall affordability of the Manchester buy-to-let market.
Manchester is known for its affordable property market, and this is especially true of new build apartments in Manchester.
When you compare the same property type as off-plan property in Manchester with London property, the prices are much higher.
For a new build studio flat in central London, for instance, you’d be looking at closer to £600,000 or more.
It’s these low property prices that help generate such an attractive net rental return for our Manchester off-plan developments.
If you’re not already familiar with how rental yields are calculated, they work by taking the purchase price of the property and the rental cost.
The lower the purchase price and the higher the rental costs of an off-plan property in Manchester, the better the rental income.
With overall Manchester rental costs rising and tenants being more likely to rent a property in a prime location for an authentic city living experience, new developments in Manchester city centre and key Manchester areas can see some high yields.
Investors who want to make big rental returns should definitely consider a flat in Manchester for their next UK property venture, and residential developments make a great option for those keen to invest in a brand-new property development in Manchester for their buy-to-let investments.
High Demand With Manchester Investments
When you own a buy-to-let property in the city centre of a thriving business city like Manchester, it’s inevitable that you’ll attract a certain type of tenant seeking property to rent — young professionals.
Emerging as the North of England’s cultural and entertainment hub, many tech companies are choosing to launch their company in the heart of Manchester, boosting the economy and skyrocketing its population by 26%, with employment forecast to increase by a further 4.3% over the next five years.
Major award-winning businesses reside in Manchester, such as the BBC and ITV, along with a number of start-ups in every industry, from the creative sector to food and hospitality.
With such high demand from young professionals for city centre apartments, what better time to explore new housing developments in Manchester and the new developments Manchester city centre has to offer?
Typical traits of young professionals when it comes to housing are that they want to live in a property that’s modern, stylish, and well-located.
Modern living demands mean that most young professionals don’t have the time to take care of any maintenance issues and redecoration in their rental, which makes new build apartments in Manchester ideal as they’re liveable from the get-go.
The choices of new builds Greater Manchester and the entire Manchester area tend to receive high levels of tenant demand, causing developers in Manchester to utilise the area.
Once completed, off-plan properties are entirely new, making everything within them completely state-of-the-art and modern.
Young professional tenants who focus on finding a new build to live in may consider the freshness of an off-plan property as a big selling point, meaning your levels of demand could be higher with off-plan property Manchester developments than with a refurbishment or period property.