In the midst of a plethora of new and pending legislation that has appeared to make life difficult for landlords, there are many reasons why it’s time to make buying a rental in Pembrokeshire your choice for long-term investment. Buying a rental property is still a great way to invest your money and using a good agent who keeps abreast of all legalities means that being a landlord can be a relatively stress-free experience. And with Pembrokeshire’s tourism booming and regeneration occurring in many of the main towns, now is the time to put your money where the market is!
A long-term investment location
Despite the fact that the stock market has been unpredictable over the last few decades, the UK property market has been extremely successful, meaning that the buy to let sector has become a valid and affluent option for those looking to invest. Add to this the fact that pension funds have become unsettled and many are looking for alternative ways to ensure they make some growth on their finances. And with Pembrokeshire’s tourism becoming more and more popular and its economy on the rise, this is the perfect time to be making a long-term investment in this fantastic county.
Location is also relevant to the type of building you’re looking to invest in. Current rental homes would generally be successful all across the county, but if you’re looking to take on a large empty property such as an industrial building and turn it into flats, there are considerations. Will a building full of nicely furnished flats rent well in the middle of the countryside? Would four one-bedroom flats rent better closer to a business park? Would it still work in a rural area if it were close to train or bus links? Knowing your local market will dictate the success of your long-term investment.
Demand for rental properties is high
It’s not just the investors that are flocking to Pembrokeshire; with the regeneration of many of Pembrokeshire’s market towns, demand for rental property is at an all-time high.
Take, for example, the regeneration of Pembrokeshire’s county town, Haverfordwest. Plans to completely transform the riverside area and the old Ocky White site gives local food vendors the opportunity to be part of the new Food Hall and for local tradesmen to be involved in the regeneration plans. Long-term investment in jobs in the towl also means better potential for rental within Haverfordwest.
With similar projects already underway in Milford Haven and beginning in Pembroke, Cabinet Member Cllr Paul Miller says “Regeneration will be inclusive of those who want to work with us to build a new, vibrant and successful Pembrokeshire” – make sure your long-term investment in Pembrokeshire happens now.
Long-term investment with long-term profits
Of course, the most important thing to consider is the return on your long-term investment. Regeneration will bring good investment for a considerably long time, but what about rural properties?
The Pembrokeshire rental market has long been popular with artists, writers and other creatives that have moved to the area because of its wild, inspiring coastline and rugged, mountainous green spaces. But with superfast broadband having arrived some years ago, there are more tech companies and a wider range of industries popping up across the county, with young professionals choosing to live and work in Pembrokeshire so that they may have the best of both worlds.
As an investor, long-term sustainability should be something you’re constantly aiming for. With great, small properties in Pembrokeshire currently producing a rental yield of 7% or higher (which is considered a good yield as it currently covers most running costs), and famously low interest rates in this part of Britain, the future of long-term investment looks promising for West Wales.
Get advice on your long-term investment
We know that, as investors, you’ll seek the advice of your mortgage advisor and accountant before committing to any long-term investment here in Pembrokeshire. At Preseli Lettings, we’re also the perfect consultants for advice and statistics regarding the rental sector. As the only dedicated letting agents in Pembrokeshire, we are perfectly positioned to give you all the relevant information regarding your prospective purchase as well as having fully managed services to help you gain long-term rental as one of our landlords. Take a look at the comprehensive and stress-free services our fully managed packages offer, as well as testimonials from other buy to let landlords who are enjoying the benefits of their relationship with us and their long-term investment in Pembrokeshire.
