Rental Property In Great Demand.

 

Expats are reaping the rewards.

Tenant demand has risen in 2023 to hit the highest level recorded since 2011, according to recent demand figures.

62% of landlords who reported increasing tenant demand in the first quarter of 2023 is double that of the same period a year ago. And it’s almost four times the level reported in Q1 2020, when only 16% of landlords felt that demand was growing.

Over 700 landlords including expats were asked to assess tenant demand over the previous three months. A ‘significant increase’ was seen by 34% of respondents, with a further 28% reporting slight increases.

London calling

Increasing tenant demand was reported by 84% of expat landlords operating in Central London, a substantial increase on the 12% seen in Q1 2021. This places Central London alongside the Southwest and Wales as the regions seeing the highest levels of increasing tenant demand during the previous three months.

Another record high in the proportion of landlords reporting increasing tenant demand reaffirms the need to increase the supply of homes in the private rented sector.

Taxation

While it is clearly important that landlords are taxed appropriately and the sector is regulated to ensure high standards are maintained, the government must ensure that buy-to-let remains attractive enough to expat investors who are vital in supplying the properties needed to meet demand.

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If you are looking for a new or re-mortgage do get in contact and one of our qualified independent advisers will be happy to help.