2016 to be the year of Serviced Apartment investment
A number of key industry figures believe2016 could be a hugely significant year for serviced apartment investment in the UK as the sector establishes itself in the British property market.
Mark Harris of the Travel Intelligence Network cites the growth in the need for corporate accommodation as the key driver, with UK businesses registering an 86% increase in the use of serviced apartments in recent years, across cities outside the capital including Reading and York and especially Manchester where demand has increased maassively.
The Savills/ASAP report announced that national operators are set to increase their number of operative units by as much as 122.3% between 2016 and 2017, with the sector as a whole set to grow by 8.4%.
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This is such a great a post – especially for people like me who have been dithering around for a while on the serviced apartment fence. When I first started investing in property (all those years ago), like many I initially went into the residential industry, mainly because that’s what I knew. I understood homes, how they worked, what drove consumers…it was a great starting block and one I would most definitely recommend to others. However now I’ve established myself further within the field, I’d really like to look into getting into the serviced appartments sector, not only because financially there’s a lot of potential here, but also simply because I love a challenge, and I love to push myself to the next level. With sites such as Air B’n’B really taking off, serviced apartments are the next big thing in my opinion which is why I would like to strike while the iron is hot. That’s why I was wondering if I’d be able to ask people for their advice. As I am very new to this side of property investment, I was looking for a good and highly reputable company I could go through. I came across a company called Emerging Properties while doing my research, and they look as if they have achieved great results for their investors (here’s a link to their property investment opportunities page for people to see). So I was really wondering what other people thought of them? Has anyone else used them before? I am very new to this specific sector of investment so any help or advice anyone could offer me would be greatly appreciated. Many thanks.