The UK’s property market is booming in many different areas, particularly in the north, in cities like Liverpool and Manchester. Liverpool, for instance, not only has an incredible rental yield percentage in its central L1 postcode (the only postcode nationally to reach upwards of 10%), but has plenty of regeneration for the future that will excite those wanting to seat themselves with a positive and growing asset.
Market opportunities won’t wait for the pandemic restrictions that have been put in place to lift. Fortunately, despite international investors not being able to visit the many great cities in the country due to global lockdown restrictions that are currently in place, there are some different technology-driven solutions that allow them to make the most of the thriving market and get involved with it, even from the comfort of their own homes. Read on for some more information on this innovative and smart solution to investing in the UK property market remotely.
Using virtual reality
By using VR technology that can be easily integrated with anyone’s smartphone and sent online to clients interesting in looking at a property, international investors looking at Liverpool property, for example, can get a fully-3d, immersive look at a property, giving them a first-person perspective that allows them to get to grips with the size of the area and what it might feel like to actually be there. This is a great way for investors missing the viewing experience to get the next best thing.
UK-based property investment firm RWinvest, a company with offices in London, Liverpool and Manchester, are one of the companies pushing this technology-driven solution to property investment, and have been doing so for years prior with off-plan investors and international, hands-off buyers that don’t have the time to get to the area in question. Alongside the novel VR experience, the company also provides a wealth of podcasts, video guides, and even in-depth screenshares to go over the surrounding area of an investment property, as this is, of course, one of the major contributing factors to whether or not it will be successful in the coming years.
Investing for the future
Off-plan investment is becoming an increasingly popular investment strategy, as it looks forward to the future of an area and its investment prospects, and often allows savvy investors to get in on a developing city at below market value. Providing that they’ve done their research properly and know where to invest, virtual reality can be a great tool in aiding investors in making the right decision about their future. Without this realistic view, some might be sceptical about completion. After all, an investment in property is an investment in something tactile and physical, so for some, it is a hard sell to purchase before even knowing that it has been completed.
To counterbalance this, however, one of the benefits is that often by the time the property has completed, the purchase price has increased, meaning instant profit for those that have cold feet and want to move on rather than letting out their property to tenants and making a further income stream.