The Belfast property rental scene has been experiencing significant growth in the past year, with demand for rental properties outpacing supply in many areas. Here are some key highlights from the Belfast rental market over the past year:

High demand for rental properties: The demand for rental properties in Belfast has been consistently high over the past year, particularly among young professionals and students. This is due in part to the city’s thriving tech sector, which has attracted a growing number of skilled workers in recent years. Additionally, Belfast is home to two universities, Queen’s University and the Ulster University, which contribute to the demand for rental properties.

Tight rental market: The high demand for rental properties in Belfast has led to a tight rental market, with vacancy rates hovering around 1%. This means that rental properties are in high demand and are often snapped up quickly, making it challenging for potential tenants to find a place to live.

Rising rental prices: With the high demand for rental properties and the low vacancy rates, rental prices in Belfast have been on the rise. The average rent for a one-bedroom apartment in Belfast is now around £700 per month, up from £650 per month the previous year.

Short-term rentals on the rise: The high demand for rental properties in Belfast has also led to an increase in short-term rentals, such as those offered through platforms like Airbnb. This trend is particularly popular among tourists and students, who are looking for flexible and affordable housing options.

Overall, the Belfast property rental scene has been very active in the past year, with strong demand and rising prices. With a thriving economy and a positive outlook for the future, it’s likely that this trend will continue in the coming years. So, if you are considering investing in the Belfast rental market, now may be a good time to consider it