People have been investing in real estate for many years, but now, more than ever, investors are taking advantage of the attractive deals in a very thriving market.
Buy to let investments have been particularly popular in the UK, with large numbers of students flocking to burgeoning cities, and young professionals, couples and families all looking for hot-spot areas to rent a property.
With high tenant demand, it comes as no surprise that investing in property is one of the most lucrative ways to add value to your financial plan. Investors can secure properties in highly sought-after places, providing them with profits in the form of rental returns and capital appreciation.
Savvy investors are aware that real estate does remarkably well even in an economic crisis, and perhaps why people want to land the best buy to let deals on the market. So, how can people secure these profitable deals with so many travel restrictions and social limitations in place? Well, property companies all around the globe, not just in the UK, have been working hard to help people take advantage of these investments remotely.
The global pandemic will no doubt continue to be with us for some time. Still, property companies, real estate agents, and investors plan to stay resilient throughout that time to ensure the property market remains a success. Thankfully, real estate companies were quick to acknowledge the demand, and in the past nine months have been working on ways to open up the market and implement safe and trusted digital processes to both current and potential investors.
Companies Opened Up the Market
As we enter into another recession, the UK market has managed to remain stable, showcasing some of the most outstanding property prices we’ve seen in the past decade. Prices continue to soar across the UK with growth rates of up to 24.1% predicted for 2024.
The market has come a long way since the initial outbreak of Covid-19, which showed a lack of activity. Still, as investors have acquired assets at lower rates than usual, people are encouraged to secure deals and benefit from the high rental yields across UK cities. Without the adaptations in technology and new strategies put in place, it would have hindered the market, but with new digital software and virtual viewings, investors can benefit from amazing discounts and continue investing in the market.
When looking to secure a property investment, and specifically when considering buy to let, investors look for areas with the best possible rental yields to maximise rental returns and ensure that it improves their financial income. When it comes to the UK, the north-west is favoured among savvy investors, with Liverpool and Manchester at the top of the list. Local property specialists RWinvest have a useful guide on finding the highest rental yields in this part of the UK if you want to find out more.
Drones might be relatively new to real estate but have been around for a while. UK companies have been quick in introducing this technology to people interested in investing since the outbreak of the pandemic. By recording unique drone footage of properties and development sites, companies can appeal to clients unable to travel at the moment.
Drone recordings give new insight and provide businesses with an exciting way to advertise their products. The technological device produces content that is personal to the viewer giving them more information about a potential investment. Video marketing and real-time technology is a fantastic way for companies to acquire new leads and help people move forward with their investments remotely.
Computer-generated imagery or (CGI), is typically used in conjunction with VR technology, again to give a deeper insight into what real estate companies can offer. CGI shows a clear picture of what off-plan property developments will look like upon completion. It can also help build the inside of a building, by adding important finishes to the interior. Through using this imagery, companies can provide a level of confidence to investors when attempting to lock in deals, as it gives a clear indication at each stage of the building process. It also helps developers with plans on what may or may not work for the property which could save a great deal of time, and money, further down the line, and CGI can be accessed from both computer and mobile devices, from anywhere, at any time.
Sales staff are also using screen share software to promote interactive tours, offering CGIs of properties to people. In conjunction with screen sharing software and video conferencing platforms, such as Microsoft Teams and Zoom, real estate firms can lead potential investors and current clients through bespoke tours of areas of interest, using 3D tours on Google Earth, Kuula and more. RWinvest, for example, utilises a tailor-made tour of the trendy Baltic Triangle area in Liverpool’s city centre, complete with birds-eye views of the new digital hub, and internal images of some of the most popular spots for future tenants.
Virtual Reality Software
As we face more isolation periods and travel restrictions remain in place, real estate companies need to continue to offer alternative methods to view available properties. With the use of virtual reality (VR), companies can provide virtual viewings to those interested in securing an investment. Real estate companies have had huge success with this technology when it comes to sales in both the UK and overseas.
VR is reshaping the way businesses market and sell their products and services. More commonly used in healthcare and retail, it is now making its way to the finance and real estate sectors to allow for remote viewings and to show off-plan properties to people, to provide an idea of what an investment will look like once it is finished.
Hopefully, the benefits mentioned above have helped explain some of the steps real state companies have been taking to ensure that the market remains stable and open for business.