With its stunning scenery, its abundance of sightseeing opportunities and its fascinating history, Northern Ireland is an increasingly popular destination for travellers.
It’s also becoming a very popular location with another group, though – property investors.
Northern Ireland offers some of the best rental yields in the UK, and with Belfast’s growing role as a technology hub the province is likely to become even more popular in the future.
Here are just a few reasons why you should consider investing in the Northern Ireland property market.
A Growing Tourist Destination
As the Troubles have subsided Northern Ireland has come into its own as an increasingly popular destination to visit. The province has so many opportunities for sightseeing with all the coastlines, cities, and castles on display.
In 2019 alone around 11.2 million tourists visited Northern Ireland, which means if you’re thinking of investing in a property that you’ll rent out to holidaymakers Northern Ireland really is worth considering.
Great Investment Opportunities
Whether you plan to buy a holiday home that you will rent out to tourists, or you’re keen to purchase a buy-to-let house that you will rent to tenants on a long-term basis, Northern Ireland offers a wealth of opportunities.
Average property prices in Northern Ireland are much lower than those in many other parts of the UK, yet rental prices are surprisingly high, resulting in some of the best rental yields in the UK.
The Potential to Create a Property Portfolio
Because house prices are relatively inexpensive in Northern Ireland, some property investors could buy several buy-to-let homes in Northern Ireland for the same amount they’d pay for a single home in the more costly parts of England.
Of course, this does mean you’ll have to take out NI landlord insurance to protect your Northern Ireland investments, but fortunately sites like CompareNI.com make this very straightforward even if you don’t live in Northern Ireland yourself.
Keep This in Mind
Northern Ireland has some stunning scenery and bustling big cities – and even the province’s capital city of Belfast is surprisingly cost effective for many property investors.