The COVID has been a great plague to all of us, sure.
However, a good businessman knows when the time is ripe for making the most profit.
If you are into profit, the best way to profit right now is to invest in property, unlike popular opinion.
Here is everything you need to know about the advantages of property investment right now:
Positive house predictions
Uncertainty and paranoia can help you make great profit
The government wants you to invest in property
More people are moving towards renting
Positive house predictions
Many articles have been written showing that right now may not be a good time to invest in property mainly because of the instability in the real estate market right now.
However, even amidst all this chaos, Savills’ five-year house forecast prediction in the UK shows that the prices of houses will go up by 15% by 2024.
This is even considering the fact that people are temporarily banned from kicking out tenants and the COVID is still among us.
Uncertainty makes for the best profit
Everyone knows that taking a road seldom taken is the best way to reach a destination that many others can’t.
If you want to make a higher profit, you have to risk more.
It is said that during the great Global Recession of 2007 to 2009, the average prices of houses fell from £189,193 to £154,452.
However, as soon as the period of Recession was over, the prices climbed back to £173,417 by 2010 and bounced back to even more than before by 2015.
People who had invested in a house in 2009 made a profit of at least £34,741 in 2015 just by selling the house without needing any sort of renovation or marketing.
The pandemic makes for great profit
In the pandemic, the prices of houses are seemingly falling again.
If anything, right now is the best time to invest in property.
Not only will you get a great price, but once the prices start going up again, you will start seeing an immense profit in property investment.
Do note that the pandemic is expected to end by the mid of 2021 and everything is expected to go back to normal soon after.
This is when the prices will bounce back, and you will be able to make a great profit.
Government plans to improve the property market
The United Kingdom’s government has planned to improve the property market because of so low investments in the region by dramatically reducing the Stamp Duty Land Tax.
This means that anyone who buys a house right now saves up £10,000 just from the stamp duty.
All properties purchased under £500,000 will have 0% SDLT.
Even if you are not thinking of selling, the price of rent is expected to go up considerably.
According to the Resolution Foundation, 4 out of 10 millennials are privately renting even at the age of 30.
More than a third of this population is expected to rent out until retirement.
Renting is passive income that is generated as long as you maintain the buildings.
This means that right now is even more of an opportunity to invest in property so that you can renovate it and make it good enough for renting for a lifetime.
Final Thoughts:
We hope that this article was able to shed light on all the advantages of property investment right now.
It’s a great option to invest in property at this time. So, you can put your savings in this investment to get these amazing benefits and have a chance to get a bright future ahead.
If you would like more information, please contact us on (+44) 033 3303 4767, email sales@lujoinvestments.com or click here to complete a contact form and we will get back to you.
