Property investors looking for an attractive rental return may wish to check out Crest Nicholson's Park Central residential development in Birmingham city centre, where an annual gross yield of around 6.5% is achievable, according to the developer behind the project.
Crest Nicholson report that the luxury two-bedroom apartments at Park Central are a popular choice amongst young professionals in Birmingham, with monthly rental fees standing at approximately £775 for an apartment priced at £143,500.
Crest Nicholson report that investors buying a new home at Park Central could achieve a gross rental yield of around 6.5%, meaning landlords can expect an annual return of approximately £9,300 per year.
Ruth Williams, sales manager at Park Central, said: "With rental costs expected to rise by nearly five per cent in the next year alone, investing in property has never made more sense. Many more people are becoming first time landlords and it is hardly surprising when you look at the national statistics.
"The homes at Park Central are always a popular choice when people are searching for an apartment to rent in Birmingham city centre. The contemporary design and high quality fixtures appeal to young professionals, as does the central location close to all the bars, restaurants and retail outlets that the city has to offer."