Why is property one of the worlds most trusted assets?
Property investment has always been held in high regard. In 2020 this is no different, it is still as important as it ever has been if not more.
Property can deliver both long term financial security but also long-term financial growth. Due to this ability it is no surprise at its high demand.
So, how do you choose the correct location for your investment property?
Some cities are more desirable than others to get started in investment property. Cities which have strong capital appreciation and considerably high rental yields are the most desirable as they will provide the biggest profit.
Other desirable factors are:
You can see if a cities economic growth is likely to rise as they will have new infrastructure projects such as new office buildings being planned for businesses to use. A thriving economy with room for growth is arguably the most important thing to consider when choosing a location.
A rising population
A population which is on the rise is important as this drives demand. The more people in an area the more demand there will be for property. This goes alongside economic growth as more people will have to move for work, these people will need somewhere to live.
Low supply of property
The more that people must compete for property is a good thing for investors as this will drive the sale price higher. Low supply and high demand will ultimately produce higher asking prices.
Having prestigious institutions near by is always favourable when purchasing an investment property. This keeps population growth sustained while at the same time keeping cash flow steady through rent.
Strong transport inks
Access to rail, airport and bus routes are also seen as desirable as it increases attractiveness of a location. Transport links are important for encouraging both leisure and business tourism.