When you are investing in property in the private rented market, you want to make sure that there’s demand for property from residents, and a continued ability for the city to attract more and more new people to live there for years to come. Strong universities and high numbers of new jobs being created are two of the most popular reasons why a city can look like a good prospect for investors, but they are not the only things to look at when it comes to proving any rental investment city’s prospects for attracting tenants.
Liverpool is one city that has seen a swell in demand and investment over the last year. And while this has largely been the result of regeneration, new investment in business and improvements in infrastructure, there’s more to the city than just these aspects.
There’s a reason the former City of Culture can boast having more than five million visitors a year, and the self same features that attract many of these tourists are those that make people want to make the city home.
Here, we take a look at some of Liverpool’s cultural highlights, why these attract people to live in the city, and why they make a perfect reason to invest in the long-term prospects of the Merseyside city’s private rented sector.
Is there anything more closely linked to the city of Liverpool than its musical history? Home to the iconic Beatles, Liverpool has music running to the very core of the city, and for people who choose to live and work in Liverpool, the scene that the Beatles helped to nurture is an important part of what the city has to offer.
Whether it’s a visit to the Beatles Story museum or a trip to the Cavern Club to watch a band in a setting that birthed the Fab Four, music and Liverpool have that link that can be felt through the ages, and still make the city a wonderful place to live for those who have a deep rooted love for all things musical.
Art and history
Music is not the only area where Liverpool has a rich history. Did you know that the city is home to more art galleries and museums than anywhere in the UK outside London? For investors, this represents a gold mine, as these venues are sure to be an attraction for any young, culturally aware professional looking for a new place to live.
Tate Liverpool, the Open Eye Gallery and Liverpool World Museum are just three of the highlights of a fantastic city that you might not have expected to find on Merseyside. And all three are likely to be the sort of sights that will attract new people to live in the city, particularly if they are moving away from traditional cultural hubs like city. This brings about positive impacts on the rental demand in the city.
For young people, particularly the tech and digital types who have been leaving London and moving to the north in recent years, the chance to get involved and creative is an important part of their life. To feel like part of something and have the chance to flaunt creativity can be one of the main reasons people might want to live in a new city, and this is something that Liverpool can offer.
Places like the Knowledge Quarter will allow residents the chance to live among a creative population, as well as letting them collaborate to be creative and ambitious. Meanwhile, existing city highlights like the Bluecoat serve as somewhere for young creatives to mix, mingle and talk, work, perform, question, create, craft, display and enjoy themselves as one creative entity.
While rental demand often relies on having access to jobs and strong educational opportunities, cities that want to have a long-term successful rental market will also have to have something that makes people want to call them home. Liverpool is a city that offers investors just this, with the cultural aspects of the Merseyside hub likely to make it a place people want to live for years to come.