By Eimear Gourley, Managing Director at www.nipropertygirl.com
IF YOU’RE A landlord (or you want to be one) living in Scotland, why would you bother buying in Northern Ireland? Well, NI could be just the opportunity you’ve been waiting for.
But what makes our wee part of the world such an attractive proposition for NI expats and savvy investors alike from all over the world?
To start with, the property market in Northern Ireland has been on an upward trajectory in recent years. We’ve seen rejuvenation across the region, which is positively impacting property values and demand. Unlike the often-overheated property markets of larger cities like London or Edinburgh, Northern Ireland provides a more tranquil yet dynamic environment for investment. This makes it an excellent choice for those aiming for steady, sustainable returns.
The affordability of properties here is a standout feature on its own, particularly when contrasted with skyrocketing prices in other parts of the UK. For many investors, their own local property market can feel out of reach. Northern Ireland, in contrast, offers a more attainable entry point. This affordability is a real pro, not just for newcomers to property investment but also for seasoned investors looking to diversify their portfolios without overextending financially.
What’s more, due to the combination of reasonable property prices and strong rental demand, particularly in urban areas like Belfast, Northern Ireland offers attractive rental yields. Investors can often achieve a higher percentage return on their investment compared to many areas in Great Britain, where higher property prices can compress yields. Also, there’s a property for everyone – from city apartments in Belfast to coastal properties and rural homes. It’s this diversity that is allowing investors to choose investments that align with their own strategies and goals.
Another aspect is Northern Ireland’s rich tourism industry. The thriving tourism sector has led to a massive demand for short-term rental properties. This opens up new avenues for investors to explore and benefit from the region’s growing popularity as a holiday destination. With the likes of Titanic (the world’s number one tourist attraction), Game of Thrones, the legacy of The Open and our cast of world famous actors, sports personalities and restaurateurs, holiday homes and Airbnbs are on the sharp rise.
NI is a great place to live. Our quality of schooling, world-famous scenery and family friendly places, makes buying a home here easy. Donaghadee, about a 15 minute drive from Belfast, was recently named the best place to live in NI by The Sunday Times. Savvy investors look no further.
Northern Ireland’s property market is ripe with opportunity, thanks to its combination of steady growth, affordability and good housing stock. An absolute gem if you ask me.
