A brand-new housing development in Pembrokeshire will provide buyers with the chance to increase their income while living in a luxury home by the sea.
The development is located on the idyllic coast of Broad Haven in Pembrokeshire – often cited as one of the most desirable place to live in Wales – and will consist of seventeen three-storey properties, many with beautiful sea views and their own self-contained apartment on the ground floor, purposely designed for owners to rent out to create additional income.
Built by Welsh property developer Waterstone Homes, the four and five-bedroom family homes will enable residents to live in a popular town while also allowing them to capitalise on the tourism opportunities presented by the area.
As a popular UK tourist destination, owners of seaside apartments can expect to draw hundreds of pounds a week in rental income during peak season.
As staycations continue to grow in popularity, buying a property in the area could prove to be a very lucrative investment opportunity.
Aimed at permanent residents who will live and work in the area, as opposed to second homeowners, the development will ensure that the homes are inhabited all year round, with the added benefit of drawing in additional crowds during the summer months.
Andrea Gardner, sales director at Waterstone Homes said: “Pembrokeshire is an extremely popular location for good reason for both homeowners and tourists looking for a tranquil seaside retreat thanks to its breath-taking landscapes, beautiful beaches and welcoming community.
“We’re extremely excited to bring our next set of homes to such a wonderful location and to contribute to making the local area flourish.
“As the homes are designed to be lived in and rented out at the same time, we won’t see the empty homes in winter months often found in areas popular with tourists, contrasting against the many properties in the area which are owned solely as holiday homes.
“Essentially our aim is to bring all the benefits of tourism to the area, including the economic and social aspects, without the negative elements such as empty properties and communities during the latter half of the year.”
As well as the additional revenue generated through rental opportunities, residents could also see further profits from owning a home in such a popular location, with research from Halifax (2017) revealing that homeowners in a third of neighbourhoods across England and Wales earn more from their property than their day job as average house prices outstrip net salaries.
Andrea added: “Individuals living in popular destinations such as Pembrokeshire have the potential to build up large levels of equity quickly thanks to rising house prices in such areas.
“Add to the further income opportunities possible from holiday rentals, and the investment potential of such properties is apparent.”
Work on the properties, which will retail between £450-550k, started in late 2017 with the apartments expected to be completed and available for sale in the summer of 2018.
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