Reasons to Invest in InverclydeInverclyde is an area located along the River Clyde, allowing it to be blessed with serene beauty. Paired with this, this area also has the beautiful sights of the Scottish Highlands and Argyll Hills.
Inverclyde incorporates Gourock, Greenock, Inverkip, Kilmacolm, Port Glasgow and Wemyess Bay. As many of its towns are located along the banks of the River Clyde Inverclyde prides itself on being a historically industrial area, known for its shipbuilding and marine engineering.
While these industries have declined, Greenock continues to embrace its history through shipping.
Its stunning views and powerful history are part of the attraction of Inverclyde, however, there are other factors which make it a great place for investors to buy.
Property PricesInverclyde was named the cheapest place to buy a property in Scotland at the end of 2020. While this may not come as good news to some, perhaps those looking for flip opportunities, this could be perfect for first time investors or those looking to expand their portfolio.
The potential to buy properties at cheaper prices allows investors to secure these properties and add value, securing themselves a profit.
AffordableWhen investing in property it is important to outline your objectives, where do you want each property investment to take you and how will it contribute to getting you there. Highlighting and understanding who your potential market will be for each investment is part of the process of making this exercise successful.
For many investors investing in a buy-to-let strategy their market will be tenants seeking affordable housing, in areas which are affordable to live in. Our experience has found Inverclyde hits this target. For those investing in property within Scotland this opens fantastic opportunities.
YieldYield expresses, in a percentage, the earnings an investor can expect to gain from their investment over a number of years. Yields work as an indicator to an investor of whether a property investment is good or not. A higher yield usually represents a lower risk, appealing to investors.
Recent research by property group Zoopla has found the average property yield within Inverclyde is 7.7%, offering great returns for investors. Pairing this with the opportunity of cheaper property prices presents investors with immense potential.
WorkforcePreviously an industrial area mainly known for its shipbuilding, Inverclyde has moved into the future, attracting forward thinking technology businesses. Greenock is currently home to offices for multiple technology companies, like EE’s customer care centre for example.
Coupling these offices with the continued ventures into shipping, Greenock currently offers ample opportunity to attract new residents, business people and skilled workers, each looking for housing or short-term stays.
ExampleWe recently sourced a two bedroom apartment in George Square, Greenock for an investor. This property will be used as a Buy-to-Let rental, earning our investor a steady monthly side income.
Upon sourcing this property our renovation partners gave the property a cosmetic uplift, whilst also installing a brand new kitchen. This increased the value of the property for our investor.
As the location of this property is a town which is affordable and attractive to the local workforce our investor will have the opportunity to maximise the benefits offered by this property.
ConclusionWith its scenic views and bustling industry potential Inverclyde is an area that attracts tourists, investors, residents and businesses, offering something for everyone
As the cheapest place to buy a property in Scotland, Inverclyde brings investors the potential of gaining great returns for their investments, whilst also presenting the opportunity to grow their property investment portfolio.
Our experience has led us to believe Inverclyde offers the advantage of being an affordable place to invest and live.
In addition to these great benefits, Inverclyde also presents the advantage of bringing investors incredible yields for their properties. This gives investors the confidence to invest as the potential risk is ultimately lower in most cases.
With Inverclyde attracting innovative businesses investors can utilise this opportunity by increasing the offer of affordable housing.
Overall, Inverclyde brings many investment advantages and opportunities to investors, making it a great place to consider.
Disclaimer: This is information based on our knowledge gained throughout years of experience, education and learnings. This information is open to interpretation and is in no way an advertisement for Inverclyde, therefore, you must carry out your own due diligence regarding the subject.