Fast forward a few years to the slowdown of the recession and these same properties were failing to achieve their asking price, and in a number of cases were falling £10,000-30,000 short. At the peak of the market, investors and owner occupiers alike were fighting for city centre property, with many regularly selling in excess of £20,000 over their asking price. City Centre flats have suffered more than most during the economic cycles of the past 20 years. Whilst individuals benefit from the regular income of renting out their property through this platform, they may also find that the once stagnant market value of their property may also be on the rise. Data from the Dundee Evening Telegraph has shown a 400% increase in “Air BnB” listings in under three years, with bookings inevitably peaking in September 2018 during the V and A opening.
With the ease by which a regular property can be transformed into a ‘B and B’, an increasing number of people are taking advantage of this new scheme for additional income. Most will be well aware of the ‘Air BnB’ model whereby residential properties are available to rent on a night by night basis, with very little hassle. Whilst this influx of brand name hotels and tourists has spelled good news for our commercial property market, there has also been a less evident benefit on our local residential property market – thanks to the likes of the somewhat controversial ‘Air B n B’ platform. Visitor numbers to the city have been rising since the announcement of our regeneration plan, with overnight visitor figures up 10% in 2018 from the previous year, and further increases predicted in 2019. However, with hotel after hotel appearing across the city in recent years, heads of the leisure industry are recognising a shift in attitude towards Dundee, with most giving credit to the recent opening of the V and A. Our limited hotels and B and B’s have historically been aimed at, and only partially filled, by long stay workers rather than those coming to visit the city attractions. In years past, Dundee is unlikely to have been very high on a holiday goers list of destinations, with most opting for the more metropolitan draw of Edinburgh or Glasgow.
0 kommentar(er)
