There are few cities in the UK quite like beautiful Cambridge. This quintessentially British town boasts everything that you’d look for in a place to live, and it’s also a hotspot for students and tourism. Indeed, along with international travellers, Cambridge attracts a lot of business-minded visitors. For investors who want to take advantage of Cambridge’s rich tourism sector, getting into the Airbnb market could be a wise move forward.
Cambridge as a Growing Tourist Destination
According to a report from Visit Cambridge, the city attracts more than 7.6 million people every year – amounting to an eye-watering £2 billion boost to the economy. The great news is that that figure is growing by 3.5% every year. That highlights how the area is an attractive prospect for investment, especially for business-minded people who want to capitalise on tourism.
The great thing about our much-loved city is that it’s a year-round attraction. Places like Cornwall do most of their business in the summer, but Cambridge can cut it around the calendar thanks to the variety of things it offers.
There are countless reasons why people visit as well. Along with simply coming to take in the beautiful scenery and architecture, people are drawn to the culture and the historical significance. Along with that, there are numerous events throughout the year — such as academic meetups and rowing competitions
Property Prices Could Rise Exponentially
There are some areas of Britain where property prices are at the mercy of macroeconomic conditions, and there’s no denying that certain spots provide much higher returns on investment than others. Cambridge is one area that isn’t as affected by external forces, though, and there’s always a steady rise in valuations here. That could be due to the high demand, and the fact that many people want to live in the area.
Anyone thinking of opening an Airbnb business in Cambridge will also be tempted by the fact that the properties themselves will yield high returns over time. The market is only going to get bigger over the next few years, so it’s a wise idea to get in now. For people thinking of selling up and buying property in Cambridge, sites like Sold can provide quick cash offers. With the online estate agent able to provide the money within a week, it makes it easy to quickly reinvest.
How to Get Into the Airbnb Business
Airbnb is growing rapidly, and SearchLogistics found it has 150 million users worldwide. It makes a lot of sense for business-minded people to get into the Airbnb market, and Cambridge provides a fantastic place to do that.
After buying a property, you’ll then have to transform it into an Airbnb. Think about your target audience and make the house suit your market. You will also need to list it on the site and making sure your profile is top-notch. If you provide a good service and ensure visitors are taken care of, you’ll get solid reviews that make it easier to advertise to future holidaymakers.
Cambridge has so many features that make it an all-round top destination for tourists. Anyone interested in benefitting from that should seek to enter the growing Airbnb market in the city.
