The Serviced Residences at The Sandford, City of Belfast, United Kingdom
City of Belfast, Northern Ireland, United Kingdom
Property ID: 28585500
|Price Type||For Sale|
|Bedrooms||2 - Bed|
|Bathrooms||2 - Bath|
The location and stylish presentation of the apartments are designed to target Belfast’s flourishing community of young professionals and business travellers and will be managed by renowned local management firm, Dream Apartments.
Construction at The Sandford is well underway. It is the only residential development currently in progress across the entire city, and well-placed to benefit from considerable and growing demand.
Prices start from just £145,750 for a one bedroom and £170,000 for a two bedroom apartment
The capital of Northern Ireland, Belfast boasts the best of the country’s economic prospects, with a young and well-educated population, strong employment, attractive tax regime, and mounting inward investment. Corporation tax will be cut to just 12.5% in 2018, and demand for office space is already rising by 165% year-on-year (CBRE).
Driven by this favourable business climate and an acute lack of supply, property values rose by a spectacular 11.1% in the year to Q2 2016, and apartments outperformed the market average with an increase of 18.9% (Ulster University). The rental market in the city is also strong, with rents up 2.4% in the year to June 2016 (Ulster University).
Although Northern Ireland needs 11,200 new homes each year to meet demand, as of the start of 2017 there were only 56 units under construction in the capital (Deloitte Crane Survey). All of them are in The Sandford – singlehandedly combatting the housing shortage and offering an excellent opportunity for investors.
In addition, Savills projects the extended stay sector to be the fastest growing hospitality segment over the next two years, with revenues up by 4.7% in 2015. The Serviced Residences at The Sandford are well positioned to capitalise on rocketing business and leisure demand.
*6% growth each year to 2019 for Northern Ireland (Savills, 2016)