Investment in Cardiff Bay
Discussion
Just my anecdotal observations, but when I lived there, there seemed to be plenty of empty flats in the existing developments. There were always loads of flat for rent, not so many to buy though. The flat I rented had been built at the height of the housing boom and was worth less than the owner had paid for it. Cardiff Bay isn't the most exciting place to live (unless you REALLY love all the usual chain restaurants) and is surrounded by not so great areas.
In 5 to 10 years what makes your investment won't be 'just another flat' to rent in a new-ish build?
Not trying to be difficult, just asking the obtuse questions you need to ask yourself when investing in property.
A lot of BTL money piled into new build flats in the run up to 2008 - hence lots of flats to let and not many for sale - the owners are sitting tight cos new build flats got hit quite bad during the 'correction'
Not trying to be difficult, just asking the obtuse questions you need to ask yourself when investing in property.
A lot of BTL money piled into new build flats in the run up to 2008 - hence lots of flats to let and not many for sale - the owners are sitting tight cos new build flats got hit quite bad during the 'correction'
Edited by thekingisdead on Sunday 25th August 19:08
Way too many flats down Cardiff Bay IMO. Overpriced during the boom years, yet investors went crazy for them and now so many are in serious negative equity. These investors (and there are hundreds of them) will be your competition when renting and when it comes to selling and many are desperate, so could keep prices down.
If you want to invest in Cardiff then maybe one of the others desirable areas where there aren't many flats, like Pontcanna, may be better.
If you want to invest in Cardiff then maybe one of the others desirable areas where there aren't many flats, like Pontcanna, may be better.
One of my friends bought three apartments Off Plan.
The Duplex she lives in,and two flats.
Her Duplex has probably devalued by £75000,and all she can ever get to rent her properties are Polish.
She is always,redecorating,and chasing rentals not paid.
I stayed with her for 3 months,it was a nightmare.
My 3 day old MV AGUSTA was stolen,and a week later my £2000 Mountain bike gone.
Luckily the Transit van was caught on cctv so I was paid on Insurance for the MV,but lost my mountain bike,as it was locked in a specified bike park and I had chained it up,but this wasn`t covered by the Insurance she had.
It`s full of undesirables,and I would do alot of research first.
The Duplex she lives in,and two flats.
Her Duplex has probably devalued by £75000,and all she can ever get to rent her properties are Polish.
She is always,redecorating,and chasing rentals not paid.
I stayed with her for 3 months,it was a nightmare.
My 3 day old MV AGUSTA was stolen,and a week later my £2000 Mountain bike gone.
Luckily the Transit van was caught on cctv so I was paid on Insurance for the MV,but lost my mountain bike,as it was locked in a specified bike park and I had chained it up,but this wasn`t covered by the Insurance she had.
It`s full of undesirables,and I would do alot of research first.
Dick Dastardly said:
Way too many flats down Cardiff Bay IMO. Overpriced during the boom years, yet investors went crazy for them and now so many are in serious negative equity. These investors (and there are hundreds of them) will be your competition when renting and when it comes to selling and many are desperate, so could keep prices down.
If you want to invest in Cardiff then maybe one of the others desirable areas where there aren't many flats, like Pontcanna, may be better.
Agreed. I can imagine competition must be fierce when it comes to finding tenants.If you want to invest in Cardiff then maybe one of the others desirable areas where there aren't many flats, like Pontcanna, may be better.
I've got no idea on values, but there definitely seems to be a lot of choice.
I'd say no. Too many flats down there and supply outstrips demand.
As for stuff getting nicked - was that by Lloyd George Avenue? It's a bit rough there, fair few DSS properties in the blocks there and the delights of Loudon square / bute street aren't far away. A friend of mine had his bike nicked from a bike locker thanks to the local Somalis.
As for stuff getting nicked - was that by Lloyd George Avenue? It's a bit rough there, fair few DSS properties in the blocks there and the delights of Loudon square / bute street aren't far away. A friend of mine had his bike nicked from a bike locker thanks to the local Somalis.
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