Coronavirus causes a surge in expats wanting to buy in their home country

Coronavirus causes a surge in expats wanting to buy property in their home country

Global property consultancy Knight Frank have recently confirmed that an increased number of expats are looking to buy property in their home country, after surveying their international network.

Since the beginning of the global pandemic, Knight Frank have seen a rise in enquiries from expats. In order to understand more about how expats were feeling, the consultancy undertook a survey and found that 64% of expats felt that the lockdown had prompted their decision to purchase property in their home country.

The data also highlighted that only 29% of expats would consider a permanent move to their home country, with 14% purchasing property as a second home. More than 50% of those surveyed said that they want a 50/50 home, one that provides a base to visit and could turn into their permanent residence in the long run.

Which property types are most popular amongst expats?

Despite previous property predictions suggesting a surge in people seeking rural living, the top two choices amongst expats were suburban areas and city centres in Knight Frank’s study.

According to Knight Frank, many expats are living in cities abroad and a move to a countryside location may not suit their lifestyle. Further data from the study showed that an apartment or penthouse was high in the requirements from expats, showing that demand for this type of accommodation has not decreased during the pandemic.

Given that a large percentage of expats have said that they would be purchasing a property as a second home, a Buy-to-Let investment could be a great option for them. Not only would it provide a second source of income whilst they are not living in the property, it’s very likely that the property would increase in value over time, so if they decided to sell in the future, they’ll make a profit.

In addition to this, Buy-to-Let investment is becoming a popular choice with those planning for retirement. Buy-to-Let properties, when located in areas with great rental yields, are a brilliant source of steady income, and many investors are seeing the benefits of a Buy-to-Let investment instead of or alongside a pension.

Always do your research

You might not always know where the best areas for Buy-to-Let investments are in your home country, particularly with the property market changing so rapidly. It might be tempting to invest in the areas you know, choosing familiarity over safety and guaranteed rental yields.  

Whilst property remains one of the safest and oldest areas to invest in, as with any investment, it’s important to always do thorough research before diving straight in. Strong economic growth, investment in infrastructure, university populations and a strong employment market are top factors to consider when choosing a Buy-to-Let investment.

Buy-to-Let investment opportunities in Manchester

We’ve mentioned a number of times that Manchester is a Buy-to-Let investors haven, it’s weathered both the Brexit and Coronavirus storms well, highlighting its strength and resilience in the face of great market uncertainty. With high rental yields, a booming economy, huge student population and a prospering job market, Manchester is not only one of the safest cities to invest in, it’s also one of the most futureproofed.

Beech Holdings have a number of new developments under construction in the city centre. One of these investment opportunities is 115 Princess Street. Located in the heart of Manchester city centre, 115 Princess Street is a buy-to-let investment opportunity with a guaranteed 7% net yield. Beech Holdings have a very limited number of apartments remaining for investment.

115 Princess Street

These apartments are pre-let, fully managed and located in an area with high rental demand, giving you a guaranteed rental yield of 7% net for the first 2 years. Beech Holdings’ apartments are located in prime areas with high tenant demand, our 97% occupancy rate in 2019 is testament to this.

If you’re interested in investing in the buy-to-let market but don’t know where to start, get in touch and our team will guide you through the process.

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