Tourism and popular attractions can impact property investment in a city in a number of direct and indirect ways.
Most directly, investors in the short-letting sector, or those who are interested in serviced accommodation investments, rely on demand from tourists and visitors for a healthy return. This is because demand and prices increase in tandem with the popularity of the area.
Liverpool has been revealed as the third highest city by VisitBritain when it comes to the number of nights reserved in short-term rental properties, as interest in the city has been booming in recent years thanks to big events such as Eurovision.
However, a thriving tourism sector can also have a wide-reaching, more indirect impact on a city, including the property market as a whole.
A robust visitor economy will provide an overall economic boost to the city. This often encourages investment, leading to improved infrastructure and transport and more job opportunities for the local community. This leads to more potential demand for rental properties and healthy property price growth.