Looking To The Future Of Property – Where To Invest After COVID-19
It goes without saying that all industries are facing a moment of uncertainty due to the current pandemic and the property industry is no different. Many property developers have had to stop work to abide by social distancing rules and estate agents are now working from home in accordance with government advice. So, currently, it may feel like the whole industry is on hold.
Whilst there are no guarantees for what the UK property market will be like once lockdown is over and businesses start to return to normal, many people are still wondering what the future looks like in terms of the property market. Our team here at Fielding Financial have looked into where you should invest after the pandemic.
Making the best property investment after COVID-19
Understandably, having your investment plans put on hold may be infuriating, however, unlike other investment types, property is a long-term investment, so this short pause shouldn’t be detrimental. Of course, there is a high chance that the market will have changed over our period in lockdown, so your current investment plans may need to change too.
When considering what will be the best property investment after the lockdown restrictions, it is worthwhile bearing in mind loss of income due to self-isolation and furloughing. Whilst you may have been set on investing in a buy-to-let property or renovating a property, it may be worth reconsidering. It is highly likely that people won’t be in the position to move house very soon after COVID-19.
There are other options available, and some which may actually turn out to be a better property investment, so it is worthwhile reconsidering things you may have disregarded previously. An option that may be incredibly beneficial for all investors to think about is serviced accommodation.
Why you should consider serviced accommodation
The travel and tourism industry has been very negatively affected by the current pandemic and the current restrictions have prevented many people from being able to go on holidays that they had planned. Currently, there is no clear date as to when trips abroad will be allowed again and it is fair to guess that it probably won’t be any time soon.
As families and households are unable to travel in the same way they usually do, there is a high chance that they will be looking to organise holidays in the UK for later in the year. People will probably try to make up for things they have missed due to coronavirus restrictions, searching for places to stay in desirable locations around the country.
Of course, if you’re able to invest in a property that can be used as serviced accommodation, you will be able to financially benefit from those looking to have a trip away after COVID-19. On average, the ROI when investing in serviced accommodation is fantastic and it is likely that the lockdown will actually aid this return when people are allowed out again.
Investing after COVID-19
As mentioned above, there are no guarantees as to what the property market or the industry as a whole will look like once COVID-19 isn’t as prominent, but hopefully this blog will give you some inspiration for future investments. It may be worthwhile looking into serviced accommodation a little bit more and doing some research now you have some spare time.
Make sure you keep an eye on the market too and stay up to date with any changes in the industry in relation to COVID-19. You will then be able to ensure that you make the best property investment at the right moment in time and go on to reap the benefits of doing so.
How Fielding Financial can help
Here at Fielding Financial, we offer a range of different online courses that are incredibly beneficial for anyone who is considering investing in property. Of course, these are courses that you can undertake whilst in lockdown during COVID-19 too, so you can ensure that you are prepared to make the best property investment decisions when the pandemic is over.
If you would like to find out more about any of the online property courses that we provide, please don’t hesitate to get in touch with a member of our team today. We will happily discuss these courses with you further and answer any questions that you may have in this regard. We pride ourselves on being able to help property investors learn the right strategies to turn a profit – so you know we are the company you need to go to.