Belfast Investment Property

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RugbyBoy

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I am thinking about buyng an investment property in Belfast city centre. Any body got advice on where to avoid? or experience of buying there?
 
Depending on the type of property, and who you want to target as tenants. The vast majority of rental property are situated in and around the universities area, as the vast majority of those who rent are students. There is not the same rental demand as there is in Dublin so beware. Stranmillis, Lisburn road, malone road and the city centre would be where most people would rent from. Any other area may be considered too far out, believe me.
 
Thanks

lots of companies expanding there like Citicorp so was considering young professionals. any suggestions?
 
Please keep property investment queries in the Property Investment forum and home/owner occupier location queries in Location, Location, Location. I had to move this one.
 
If you are ROI resident you will have to make a rental return to UK inland revenue and ROI revenue rules differ in each jurisdiction
 
have you checked out the rental yields?? you gonna finance it with euro/sterling loan? prepared for currency risk of financing in euro?
 
Alot of companies are interested in investing in Northern Ireland. Belfast has changed alot in the last 10 years, as has property prices. You might find that some big companies do rent places for their employees especially if they are from elsewhere....however Belfast more than anywhere is very much as Home owner's society. Vast majority of renters are students or else professionals looking for short term leases til they buy themselves.
Belfast house prices have gone up quite considerably still (surprisingly given it is still politically unstable) and so may start to attract more people to rent.
As you guessed, it is very important to pick the right areas. Areas I mentioned earlier are now very over priced if your intentions are to buy to rent. Maybe houses around the University of Ulster/ Jordanstown might be better bets in terms of value.
Remember you'll have to pay tax on your rental income, and you may have to finance yourself some months in which the house is not occupied so be ready. Otherwise good luck on your venture if you pursue it.
 
Sunster said:
Depending on the type of property, and who you want to target as tenants. The vast majority of rental property are situated in and around the universities area, as the vast majority of those who rent are students. There is not the same rental demand as there is in Dublin so beware. Stranmillis, Lisburn road, malone road and the city centre would be where most people would rent from. Any other area may be considered too far out, believe me.
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I took a look at Belfast many years ago and at that time it seemed that most of the tenants were DHSS but that may just have been the areas that we looked at.
 
Getting a sterling mortgage and I am familair with UK tax returns as I lived there for many years.

Just trying to get a feel for areas to avoid. I get the impression its bit like many post industrial cities in northern England with lots of old terraced houses and DSS tenants (no offence)
 
I was on the verge of buying in east Belfast a few months ago. Pulled out because the survey came back with poor enough results. However, at the same time I got a lot of advice from the (Catholic) Surveyor, a friendly, normal guy, who suggested I might want to think again because it's not a place you want to be driving a D reg car! I thought all of that cr*p was over, but was clearly naiive. Other people I since spoke to (Catholic and from Belfast) who invested have done so in the Ravenhill area. Titanic Quarter could also be worth a look....?
 
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