Despite the challenges of coronavirus 45% of landlords are optimistic about the state of the buy-to-let market this year, a survey from Property Master has found.
However 29% of those surveyed were pessimistic about the buy-to-let market in the coming year and many of these feared landlords would be, in the words of one person, “sitting ducks” when it came to raising taxes to pay for the current crisis.
Angus Stewart, chief executive of Property Master, said: “For landlords, as for many other sectors, 2020 is a year that brought plenty of challenges.
“But in the case of landlords Coronavirus and the resulting economic uncertainty came on the back of a raft of regulatory and tax changes over recent years that have left the sector battered and which saw smaller landlords in their thousands throw in the towel.”
Stewart added: “However, our survey shows the buy-to-let sector as a whole is a resilient one. Those landlords that have survived may well be stronger and our survey shows them as giving buy to let the thumbs up as we move into 2021.
“We see the year as being one of two halves. There is clearly continued turbulence forecast for the first half of the year as Coronavirus and Brexit play out.
“But the fundamentals of the private rented sector remain and now more than ever an increased number of people need a good quality roof over their heads, and this will create plenty of opportunity for landlords to do well.”
This post has originally been featured in Property Wire.