Why Should You Invest in a 2-Bed Apartment in Derby?
Each property type comes with its own benefits and drawbacks and 2-bed apartments are no different. While 2020 and lockdown saw many people leave city-centres for rural areas, this seems like it was a temporary measure.
City living is making a return and already we’re seeing markets such as Derby prepare to capitalise. Over the last 10 years, Derby property prices have risen by £61,000, highlighting why property for sale in Derby continues to be a clear opportunity.
In the past 12 months, the amount of renters moving away from single-let properties has risen by 312% in search of bigger homes that have room for couples or sharers.
While couples once dominated the tenant pool for 2-bed apartments, changes in tenant priorities have broadened the scope of 2-bed apartments in Derby.
Regeneration Driving Demand for Derby Investment
With Derby fast becoming the cultural core of the East Midlands, the regeneration the city is experiencing is driving the price of property in the area while ensuring the future of the city is brimming with creativity and vibrancy.
The engine driving this change is Derby’s employment opportunities, attracting a diverse range of young professionals and encouraging further investment into the city. Derby is creating a domino effect across the city, with the potential to create a professional hub that reflects its industrious heritage.
As you’d imagine, the opportunities and attractions of this leading city’s future landscape will attract a wealth of new visitors – driving the demand for this emerging hotspot with a population expected to hit 312,000 by 2037.
Rental yields are a key measurement for investors and can vary significantly between apartment sizes. While one-bed properties, on average, sit on a 4.1% rental yield, 2-bed properties offer more competitive returns, reaching an average of 4.8%.
As a Buy-to-Let hotspot, a number of properties in Derby surpass 5% rental yields, meaning a 2-bed apartment in the UK’s most central can be a potentially lucrative investment asset. The ongoing Derby Masterplan 2030 will make Derby property investments more competitive in the years to come, with prices expected to rise by 24% by 2025.