Residential

These properties will be in the process of being built, are already built, or are being refurbished, and are for residential use only.

From an investment point of view residential property can return a steady and very often lucrative annual income, if bought on a buy-to-let basis, or combining rental income with maximising the opportunity for capital growth.  There are options within this group as follows:

City centre

• generally apartments for long term rental to city workers
  
  
• apartments for short term lets to people who come on city breaks
  
  
• Suburban residential: generally villas/smaller houses for short and long term rental to city workers and tourists
   

Resort

• a variety of residential accommodations offering short term holiday lets or long term lets to support workers
  
  
• a resort could be a summer seaside, a ski resort, or a spa town among others

Key factors to bear in mind here are:

• Who is the target market, the people you will want to let out to?
  
  
• What are their accommodation needs?
  
  
• Location is likely to be critical
  
  
• Property management: maintenance, cleaning, advertising
  
  
• Taxes on revenue
  
  
• Community charges
  
  
• Local taxes
  
  
• Are the Title Deeds in order?
  
  
• Is the property unencumbered (no liabilities such as debts or outstanding mortgages)?