Luton LU1 is a completed buy-to-let investment opportunity comprising 66 studios, one-and-two-bedroom apartments. Two bedroom apartments start from £209,995. Just a 10% deposit is needed and there is a rental yield of 6% guaranteed for 12 months.
The apartments are suitable for people working in the town of Luton as the development is located on the fringe of the city centre and is also close to the train station for those needing to work further afield. Being just a ten-minute walk from the station, Luton LU1 is also ideal for those working in London as they can get into the city in as little as 40 minutes.
Luton has an overall average house price of £261,124 making it one of the most affordable commuter towns for London, the affordability has increased its appeal as house prices have increased by 13% since 2016. Comparing that to London where the average is £727,767 and prices have only increased by 5% since 2016 and you can understand why people are choosing to invest in Luton where prices are lower but rising at a more rapid pace.
Luton’s population is also increasing at a faster rate than they are building houses in the town; with approximately 430 houses being built a year yet needs 1417 houses to be built to meet demand. This means that there will be increased pressure on existing housing which will have a positive effect on rental yields.
Lu1’s apartments are priced under the town’s average which means there should be plenty of scope for more capital growth.
Contact us today to learn more about this Luton buy to let opportunity or other buy to let opportunities across the UK.