Could tenants pay more for buy to let property on the coast?

31 August 2010

Written by Gavin Elley

Tenants could be paying more for buy to let property on the British coast, a new study has revealed.

Undertaken by the Post Office, the research shows people looking to for houses in coastal locations are willing to pay a high premium for living close to the sea.

On average, people are paying an extra £20,448 to buy the perfect coastal property – meaning those costs are likely to be passed on to tenants in homes bought specifically for buy to let reasons.

While living by the coast is one of the costliest options for UK property buyers, buying a house in close proximity to family and friends was also revealed to be important, as people would spend up to £13,005 more on a home to stay around their nearest and dearest.

Meanwhile, recent research from Halifax building society discovered seaside properties in the north of England boast good standards of living, as well as the best value for money.

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