The real estate market has become a very serious alternative to bank investment products. People with free cash often consider using it to buy a flat for rent or to renovate and then sell it profitably. This is a good idea, especially if you manage to find a really attractive property with potential. The category of such flats includes tenement houses for many years. Why should you consider such a property? Read.
Apartments in tenement houses are in great demand
And this is the main reason why people looking for a good investment in the real estate market should take an interest in them. After years of stagnation and craving for the so-called new building, Poles return to the tenement houses again, especially the young ones. Apartments in old buildings have a unique climate, large area, are spacious, give great opportunities to create an interesting interior design. As a result, their prices are constantly rising.
This is a very important argument from the point of view of an investor who is looking for a flat to rent. Tenement houses are usually located in the very centre of the city or in its immediate vicinity. They are therefore attractive for young people, especially students who do not want to waste their time and money on commuting to universities and entertainment venues. So if you are planning to rent a flat to a jackpot owner, a flat in a tenement house will be a very good idea.
Predictable increase in value
Of course, no one guarantees that a given investment will be 100% successful, but buying a flat in a tenement house seems to be the least risky. For a simple reason. They invest heavily in revitalisation of centres and downtowns, which naturally increases the value of residential properties. So you can expect that an apartment in a few or a dozen years will be worth much more than it is today.
These are the worst apartments in the world to date.
Many people are afraid to buy a flat in a tenement house because they associate it with ores, old installations, damaged roofs and an uninteresting neighborhood. However, this is changing fast. Many cities have felt a good deal of interest in selling old-fashioned housing, so unreliable tenants are evicted to other districts. Their place is taken by young, well-off people who have interesting ideas for making their surroundings more attractive.
The tenement houses are being successively renovated and often managed by thriving communities. So you can buy a flat in the building, which will be renovated at any time, which of course will increase the value of the property dramatically.
Purchasing a flat in a tenement house can be a great investment, provided that you assess the potential of such a flat well. Remember that the costs of renovating old apartments can be horrible.