The Manchester property market remains one of the most attractive prospects when it comes to UK investments. A thriving and forward-thinking metropolis, increasing numbers of people are choosing to live, study, and work in this amazing city.
The growing numbers of people in need of Manchester new homes have, in turn, created a boost in demand for new properties in the Manchester real estate sector. This has led to the creation of new property development solutions in and around Manchester city centre, leaving property investors the chance to make an off-plan investment. But is investing in the off-plan property Manchester offers worth it, and how can you find the perfect new builds for sale in Manchester.
Manchester off-plan developments are definitely an investment to consider. There are so manybenefits to off-plan property investmentalone, 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.
What is off-plan?
Off-plan property is a property that’s not yet completed. When the investor purchases an off-plan property, it’s still in either the development stages or planning stages. Many benefits come with off-plan investments, such as the ability to purchase the property at below-market rates for the lowest price, and attracting more demand.
So, now that we know what off-plan property is, let’s find out about the benefits that come from investing in Manchester off-plan developments.
The benefits of Manchester off plan developments
Since off-plan properties are still in the development stages, these type of investment properties have the ability to increase in value by the time they’ve 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, and Manchester is the perfect city for this.
A prime example of the potential behind these off-plan investment opportunities 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. Because of the location, these Manchester apartments attract lots of demand from those that want to rent a flat in Manchester which is close to their workplace and the city centre. This Salford Quays development also comes with below-market prices thanks to the off-plan property type. 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.
Below market rates
Priced from just £97,500, our Hollywood development is a great example of the below-market rates that come with off-plan properties, while also reflective of the overall affordability of the Manchester buy to let market. When you compare the same property type as new builds in Manchester with those in London, 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, 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. Investors who want to make big rental returns should definitely consider a flat in Manchester for their next UK property venture, and properties like Hollywood Manchester make a great option for those keen to invest in a brand new development.
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 forecasted 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.
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 a new build property ideal as it’s livable from the get-go. The choices of new builds Greater Manchester and the entire Manchester area offers 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 that 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 Manchester off plan developments than with a refurbishment or period property.
Why choose RW Invest for off-plan property Manchester?
We are one of the leading Manchester property investmentcompanies, currently offering a choice of great off-plan new builds for sale in Manchester. All of our new build apartments located in Manchesters most thriving locations have been built and constructed to the highest standard, with a choice of studio, one, two, or three bedroom properties featuring stylish open-plan designs. Amenities in some of our Manchester properties include luxury private balconies, such as in our Bridgewater Wharf development. These type of amenities are likely to attract even more demand from tenants who favour a luxury apartment feel. Better yet, our Manchester home developments come with prices starting from under £100,000, making these off-plan property opportunities perfect for investors who seek out low entry prices as part of their search criteria.
If you’re interested in buying a Manchester off-plan property of your own and want to explore our range of new builds Manchester currently has on offer, get in touch today, and we can advise you on our current off-plan apartments in Manchester and help you find an opportunity matching your search. For updates on the status of each of our off-plan Manchester properties, be sure to check out the latest construction update for each development.