Public attractions and the rental property market
The creation of public buildings that are architecturally creative and combine aestheticism, functionality and an awareness of the impact on the surrounding environs make for a hugely attractive destination. Whether a residential rental property is aimed at long-term tenancy or the holiday letting market, the presence nearby of an impressive public attraction can only positively impact the rentability of a real estate investment.
Top public attractions in Europe
A recent article on Europe-re.com discussed the top public attractions in Europe. All of them are noted for their architectural creativity, aesthetics and functionality. Possibly one of the most well-known, however, is Le Grand Palais des Champs Elysées. Now in the early stages of a large restoration project, the new design will include several exhibition areas, a restaurant and car parking in an effort to “reinforce the aspiration” of the Grand Palais as a “culture machine”.
Rental property near local attractions
In terms of rentability, investment properties near to a famed attraction will, by association, be more appealing to a tenant. Plans for The Museum of the Human Body in Montpellier are another example of a cross-national trend towards governmental investment in public buildings. With the intention of bringing a resurgence of interest to the nearby areas, these public projects also offer those interested in investing in buy-to-let properties an excellent opportunity for long-term capitalisation.
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