Property Focus: Letterkenny buy-to-let property is an attractive investment

first_imgDuring 2016-2017, Donegal rental incomes experienced double-figure percentage increases, with Letterkenny seeing the largest share in rental price surges. And Letterkenny now offers some of the best buy-to-let investment opportunities in Ireland, which incidentally has topped the European buy-to-let investment league for the second year running, according to research by WorldFirst. According to Daft, Q1 and Q2 of 2017 saw year-on-year increases in rental values to the tune of 11.5% and 14.1% respectively (following an 11.5% hike in Q4 2016) – among the highest rises on record in the country. And although there has been no significant increase this year (0.3 in Q1 and 1.7% in Q2, perhaps as a result of Brexit uncertainty), yields have certainly not fallen back and don’t look like doing so.By Gareth McLarnon Gareth McLarnon of Glen Estates.In fact, Daft’s latest rental report which was released on August 17, states that one-bedroom apartments in Donegal offer an average yield of 10.7%. The Daft Q2 2018 report further states that two-bedroom houses offer a 9.2% rental yield with three-beds yielding 7.6%, four-beds offering 4.4% and five-beds providing a 4.6% return.Given that a typical savings account is offering a return of just 0.01%, it seems obvious that investors will look towards buy-to-let as an attractive option. Letterkenny is one of the regions that is pushing the Irish average rental yield up. A two-bedroom, semi-detached rental property in Letterkenny recently sold for €82,000 with a monthly rental income of €650 euro – that represents 9.45% rental yield. This of course is good news for vendors but even better news for investors. There is great value still available in the local housing market and – as prices continue to improve – investors are making the most of Letterkenny housing as an attractive investment opportunity.Capital appreciation of residential property over the past four years has been strong and we see no reason that this trend shouldn’t continue, as lending across the sector has improved with new lenders entering the market on a regular basis.Investors are required to have a 30% deposit when seeking finance for buy-to-let property. Lending is available to investors from specialist lending institutions for up to 60% of the value of the property.For more information on buy-to-let property locally, call Glen Estates on 074 91 02220. www.glenestates.ieDonegal buy-to-let tips The study by the UK international money transfer service found the average rental yield of an Irish buy-to-let property in 2017 was 7.08pc, compared with 6.54pc in 2016. In comparison, buy-to-let investors in the UK (including our neighbours in Northern Ireland) saw yields fall from 4.91pc to 4.00pc on average, making the UK among the least attractive in Europe. This situation is turning some UK and NI investor’s attentions to Ireland, although amid Brexit uncertainty (and the weak pound), many may well be adopting a ‘wait and see’ attitude for now regarding the Donegal market. Value for money in the local property market, coupled with unprecedented demand for rental accommodation, has placed the town firmly in the spotlight for property investment.center_img And the current housing situation looks set to be prolonged, as demand for rental properties continues to rise in Letterkenny. A deficit in development has resulted in a critical shortage in rental accommodation, with little reprieve in sight as developers are still struggling to find finance for residential development projects following the construction crash of a decade ago. This level of return may not be a typical scenario, but with three-bedroom residential properties selling regularly at just over €100,000, the returns are certainly much more attractive than many other investment options currently available.  Buy-to-let yields in Letterkenny are proving very attractive among investors with more than 10% gross return available on some properties. Do• Realise that the investment is for the medium to long-term• Plenty of research on the market locally• Make sure the figures add up• Budget for decorating to high standard• Hire a professional letting agent • Register on the Private Residential Tenancies Board (PRTB)• Ensure you have a robust tenancy agreement in place Don’t• Purchase a property without having a professional survey completed• Cut corners on tenancy agreements or legal documentation• Ignore your taxation responsibilities on buy-to-let properties• Expect an inexperienced family member to manage the property wellGareth McLarnon is Director of Glen Estates, Donegal’s fastest growing estate agents. He has worked in the property industry in Donegal for almost 20 years. Gareth is always available for expert advice on buying, selling or renting property in Donegal. Get in touch today on +353 74 910 2220 or [email protected] Focus: Letterkenny buy-to-let property is an attractive investment was last modified: August 23rd, 2018 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

Metro of the Month: San Francisco

first_imgTo learn more about San Francisco and other metro economies, please go to:  SHRM Metro Economic Outlooks Health care and tourism are two of the big contributors to the San Francisco area’s economy, and technology giants such as Google, Yahoo and LinkedIn – all headquartered nearby in Silicon Valley – have conducted expansions recently in the San Francisco metro area.  With job creation steady as of late, city officials have set their sights on creating more places for workers to live, led by a plan to build 30,000 new housing units in San Francisco by 2020. One-third of those units would be permanently designated as affordable for low-income residents, and more than half of the new units will be priced for middle-income residents. Some of the Fortune 500 members based in the San Francisco area include Pacific Gas & Electric, clothing retailer Gap Inc. and financial interest Charles Schwab. The San Francisco metro region spans nine counties in Northern California.  In San Francisco alone, the city’s fast-growing technology sector is home to more than 2,200 companies that employ more than 58,000 workers. One of the city’s homegrown tech companies, Salesforce.com, added 1,000 local jobs in 2014, and ride-sharing service Uber is in the midst of building a new, 422,000-square-foot headquarters in the Mission Bay neighborhood. last_img read more

Chromecast Gets New Gaming Powers, Plus Showtime and Starz

first_img5 Outdoor Activities for Beating Office Burnout 4 Keys to a Kid-Safe App 9 Books That Make Perfect Gifts for Industry Ex… adriana lee Related Posts center_img Tags:#chromecast#Google#Showtime#streaming#streaming media#TV Google really, really wants Chromecast to get on your gift shopping list. So to sweeten the deal, the company just announced some brand new functionality for its $35 TV-streaming stick. Say hello to casual gaming and new premium channels.If you already own a Chromecast TV-streaming device, congratulations! You have a new way to entertain (or distract) relatives on Turkey Day. Just call up a board game app on your mobile and fling it to your television. Compatible titles include Wheel of Fortune, Hasbro’s Monopoly Dash, Scrabble Blitz, Connect Four Quads and Simon Swipe. Or clear the furniture for Just Dance Now, test Grandma’s Web knowledge with Emoji Party, or crown the king or queen of useless knowledge with trivia game Big Web Quiz, which uses Google Knowledge Graph to create questions. See also: How To Send Videos On Your Android Device to ChromecastThe game selection isn’t very extensive yet, and the offerings aren’t exactly console-worthy. But this debut set makes it easy to put some family-friendly fun on the big screen for your family and friends, while they use their mobile devices as directional or motion controllers.The thumb-sized streaming gadget also boasts support from two new premium TV channels. Showtime Anytime and Starz join the fold, which is great news if you want to binge-watch Homeland or want to catch Outlander. Like the HBO GO app, these new streaming channels require a cable subscription—for now. Also like that competitor, Showtime will also debut a standalone streaming service independent of cable packages next year. (Starz may also do the same.)Chromecast development has been ramping up this year, with literally hundreds of compatible apps now. To make it easier to wade through the pile, Google organized its Chromecast apps page with new categories covering compatible iPhone and Android apps. Now they’re sorted into New, TV & Movies, Music & Audio, Games, Sports, Media & Video and More. Harking back to its launch, when Google bundled free Netflix services for Chromecast customers, the company’s sweetening the pot again—this time with two free months of Hulu Plus and 90 days of the Google Play All Access Music service. (Limited to Chromecast users who newly sign up for the services.) Looks like Chromecast just leapt out of the stocking stuffer category and earned a primo place on primary gift lists.  12 Unique Gifts for the Hard-to-Shop-for People…last_img read more