Belfast second best city in UK for buy-to-let investments
Northern Ireland is the second best region in the UK for buy-to-let investments, while Belfast is the second best city in which to invest in buy-to-let, according to new research.
The findings put together by London estate and letting agent Benham and Reeves showed that Scotland is best buy-to-let location based on the speed at which you can recoup your investment on both property price and stamp duty costs based solely on annual rental return.
It takes 17.7 years to recoup your investment in Scotland while Northern Ireland came second at 18.9 years. Glasgow topped the list of best cities for buy-to-let, where it takes 13.3 years to recoup investment, followed closely by Belfast with 15.8 years.
Marc von Grundherr, director of Benham and Reeves, said: "Buy-to-let investment is a complicated business, even more so given the changes to the sector of late, however, the primary indicator of a good investment is always going to be the rental yield available.
"What this research demonstrates is that while buy-to-let remains a lucrative business despite the Government's attempts, it should be viewed as a long-term one and not a method for making a quick buck. For those serious about the sector, whether it be as a professional or amateur landlord, it's important to understand the commitment before diving in if you wish to see a profit."
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