Article Summary

Manchester has long been known as a buy-to-let hotspot in the UK. Its booming economy, reasonable house prices and fast-growing population ensured it was named the best place in the country for buy-to-let properties overall.

Now, new research has revealed that Manchester property investments are among the best in the country for buy-to-let opportunities in flats and apartments specifically.

Above average results

This new report, carried out by build-to-rent furnishing company Manor Interiors, focused on the proportion of rental properties in a city that were flats or apartments. The research found that on average, flats made up 64% of all properties currently available to rent in the UK.

However, the proportion of flats and apartments in Manchester’s rental market was found to be much higher. In Manchester, 73% of properties on the rental market were flats or apartments, making them the best option for buy-to-let properties in the city.

Popular with investors and tenants

Flats and apartments are a popular choice for Manchester property investments, particularly those that are sold off-plan. A high proportion of Manchester’s tenants live in flats or apartments – particularly in popular areas like the city centre or Salford. This makes deciding to invest in such a property type an easy choice for many investors.

Flats and apartments are also a popular choice for tenants. As Farhan Malik, CEO of Manor Interiors said of the company’s research, “Flat living is the clear choice for many city-dwellers and a high propensity for renting apartments means many of our major cities are already primed and ready for the build-to-rent to revolution.”

The rise of build-to-rent

When investing in these kinds of properties, many people choose to buy off-plan properties that are still in construction.

There are many advantages to this. Off-plan buy-to-let apartments often have much lower purchase prices. And in a city which already has below-average property prices and above-average rental yields, investing in this kind of buy-to-let property in Manchester can be very rewarding.

And with the rise of the build-to-rent sector, particularly in key northern cities, there are fantastic opportunities for off-plan Manchester property investments. 

Farhan Malik explained: “Build to rent developments offer a step above the standards of your typical private rental flat, a step up in sophistication and quality and, perhaps most of all, a superior tenant experience.”

Get in touch

If you’re interested in making a Manchester property investment, find out more by getting in touch with North Property Group today.