Rental Yields Galway Ireland
Yields are a very important measure for investment properties. They are the ratio between the cost of purchasing the property and the rent that it generates.
If you are a Landlord of an investment property in Galway you are most certainly looking to maximise your rental yields. The average rental yield in Galway City in 2014 was 6.8% as per GlobalPropertyGuide (Rental Yield is an annual rental income from the property expressed as a percentage of the cost of the property).
Some Landlords however are willing to accept lower yields if the property is generating strong capital appreciation. Generally speaking investors would seek a rental income or yield that will meet the repayments of the interest on the mortgage. This however might be more difficult nowadays.
‘True’ or ‘net rental yield’ would be the yield calculated by using the rental income figure net of expenses like mortgage, insurance premiums, replacing fixtures and fittings, maintenance, ground rent and service charges, letting agency fee, void periods.
Property market in Galway
The Galway Advertiser published recently an interview with three local aucioneers. The main findings concerning the property market in Galway include:
- return of buyer confidence
- increased property sales
- severe shortage of supply
- residential letting at a historic high for demand
- auctions not achieving prices as good as the sale of similar houses by private treaty
For more details please visit Advertiser.ie
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