Do you guys think its a good investment to buy an apartment in sheffield, 1 bedroom for 100k?

do you think city living is short term or do you think the market will just keep growing like it is doing?

thanks guys

Personally I would buy a house or a 2 bed flat in a different development.

For investment purposes, I wouldn't touch apartments with a bargepole. Its all to do with supply and demand. The city centre now seems to be overstocked with apartments and it wouldn't surprise me at all if the value of these was going down, not up.

if you have 100k, my advice would be to buy a 2 bedroomed terrace in an area quite near the city centre (if you can get one at that price). The value of this will in my view rise over time (but i could be wrong).

Do you guys think its a good investment to buy an apartment in sheffield, 1 bedroom for 100k?

do you think city living is short term or do you think the market will just keep growing like it is doing?

thanks guys

2 questions to ask;
1/ Is the population of the city as a whole growing (not just the city centre population) to enable the market to keep growing?
2/ How many of the present flats are standing empty and for how long?
This is your starting point but ask as many questions as you can!

I'm trying to remember where the article was but I was reading yesterday that the market for city centre flats is over supplied where as houses are in short supply. Consequently Flat prices have been dropping slightly whereas house continue to rise

Everyone seems to have an opinion on this one...
My personal view is that a flat will be a good investment.
The city centre flats get good rental prices, particularly with more rich students moving out of the traditional student areas and into the city centre.

I also seriously doubt that you can get a terraced house in a good area of the city for under 100K these days...

thats what i thought??

Do you guys think its a good investment to buy an apartment in sheffield, 1 bedroom for 100k?

do you think city living is short term or do you think the market will just keep growing like it is doing?

thanks guys
Long term yes short term?
We have just had a .25% rise in interest rates today,one can never be certain but I would expect property prices for some time to be static.

There are already too many flats in the city centre. Just look at whats happened in other cities eg Leeds , Nottingham , Manchester , the developers can't sell them and are having to drastically drop the prices of them. They tried high rise flats in the 60s and they didn't work then . The majority of the British public just don't like living in high rise flats , when will the planners and builders realise this. If I were you I wouldn't bother paying an extortionate price for a pokey little box of a flat, buy a nice turn of the century terrace that will always be popular.

There are already too many flats in the city centre. Just look at whats happened in other cities eg Leeds , Nottingham , Manchester , the developers can't sell them and are having to drastically drop the prices of them. They tried high rise flats in the 60s and they didn't work then . The majority of the British public just don't like living in high rise flats , when will the planners and builders realise this. If I were you I wouldn't bother paying an extortionate price for a pokey little box of a flat, buy a nice turn of the century terrace that will always be popular.
High rise flats in the 60's were designed for council tenants by councils on the cheap without little thought to the tenants going there, in other countries people live in high rise buildings in Dubai, it probably as as many high rise buildings in ratio to other buildings as anywhere in the world the difference is they are private buildings built for profit, all be it they may be rented but not subsidised, socialism does not exist there.
Having said all that I would not want to live in that country which exploits the largely Asian workforce and others.
In respect of flats many more people have flown the nest these days and do not live in "the family home" and there is a huge demand for single or double accommodation.

any other views on this?? have also looked into student appartments, but not sure if a student would pay like £340 a month

hi there shabba

might be useful to look through a few old threads....

http://www.sheffieldforum.co.uk/showthread.php?t=214930
hope this helps

i live in 100k 1 bed flat that i rent, its 2 years old and the build quality and materials used are shoddy to say the least.. i'd hate to think it was my pension plan

how much u pay a month??

The letting market is reaching saturation point for flats, you would be better off with a small house say somewhere near one of the hospitals, or close to a tram stop which is more likely to appeal to professionals and somewhere with parking, which unlike the city centre flats tend to be without parking, or parking comes at a stupid fee, either added onto the purchase price or lettable separately at an annual fee. Professionals now are tending to look further out as even with double glazing most city centre flats are noisy, and have paper thin walls. Several friends are surveyors with property letting portfolios and if they won't touch them, that seems like a good enough reason to me. The majority of city centre flats are bought by non local investors and looked after by letting agents and sometimes they haven't even viewed them, so beware.

I personally would not recommend a city centre apartment. There has been a rise in city centres apartments during the last 7 years or so, thats over now. An idiot could have bought a city centre apartment and would have made money.
I agree with all what have been said plus bear in mind you have to pay around £1200-1400 service charges/ground rend per year for these flats.
However, if you have a house, you would not pay these silly fees.
I would strongly recommend a terraced/townhouse close to local amenities. Close to universities/hospitals would be a bonus but with 100k it will be difficult to find one.
You can still find a two bed terraced for 80-110k, depending on area you want to go to.
Good luck

[QUOTE/Professionals now are tending to look further out as even with double glazing most city centre flats are noisy, and have paper thin walls. Several friends are surveyors with property letting portfolios and if they won't touch them, that seems like a good enough reason to me. /QUOTE]
So let's all follow the pofessionals, they all got us into this mess, maybe they'll get us out! :) I must say maram, your post contains a lot of common sense, are you a Yorkshireman/ woman? :love: What do your friends say about purchasing riverside properties? Is this still trendy? :huh:

Have you considered investing overseas? Bratislavia is rising at 20% PA. There is massive investment with transport infratstrucure into Austria providing huge job opps etc.

Do you guys think its a good investment to buy an apartment in sheffield, 1 bedroom for 100k?

do you think city living is short term or do you think the market will just keep growing like it is doing?

thanks guys

Right now, I couldn't think of a worse investment.

Opportunities in Hull at the moment! You can get a cheap riverside ground floor flat.

I'm trying to remember where the article was but I was reading yesterday that the market for city centre flats is over supplied where as houses are in short supply. Consequently Flat prices have been dropping slightly whereas house continue to rise

http://newsvote.bbc.co.uk/1/hi/business/6267588.stm

thanks guys very helpfull information.

how much u pay a month??

less than £500 and its got a parking space

LOL, no not a Yorkshirewoman, I am a Scot, and cautious!
Riverside properties are trendy, but be prepared for rewiring/cabling bills as rats from the rivers tend to find the cables very tasty... Personally, it is the ridiculous service charges that irritate me, and that's why I would go for a house almost anywhere over an apartment.

Have you loo in Bulgaria? Since it has joined the EU, and there will be a major highway going through near the ski slopes. You can buy sevral houses for that in Bulgaria. I have friends that just purchased a huge brand new 3 bedroom open floor plan with land for 15,000.

If I had the funds that would be the first place I would invest. Being a California realtor, that spells huge opportunity there.