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Out of all the types of Investment properties, Flats and Apartments are usually the easiest to manage and most straight forward to buy. City Centre flats are always extremely popular with young professionals and usually rent very well.
The main downside with Flats and Apartments is on-going running costs as there are usually service charges and ground rents to pay.
More people now rent than have done for years, more of us buy-to-let, and more buy property as a pension-provider.
The property market is starting to move again and Individual buyers will find they are in a much larger pond than they might have imagined. Investment in key hot spots has increased substantially due to a combination of first time buyers, downsizers and investors who see property now as their pension.
Young couples are priced out of buying need one-bedroom flats to rent, therefore its usual that the smaller flats give higher returns on investment than larger ones.
Many people would urge caution when buying leasehold property, but provided that there’s a well-written lease and the building is properly managed, there’s no reason why a leasehold flat shouldn’t provide the basis of a good home AND a secure long-term investment.
The important thing is to ensure that the lease protects your own interests. No two leases are ever the same so it’s important that you seek legal advice to clarify your rights and responsibilities as the leaseholder.
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