Northern Ireland offers growing opportunities for long-term rental investment, says John Minnis
New research from Belfast estate agency John Minnis suggests Northern Ireland is becoming an increasingly attractive market for landlords, driven by strong tenant demand, rising rents and limited housing supply.
Northern Ireland is becoming an increasingly attractive destination for long-term rental investment, according to new Rental Wellness research from Belfast-based estate agency John Minnis, which points to strong tenant demand, rising rents and constrained supply across the region.
The report contrasts the market with England, where landlord numbers have continued to fall. It cites industry research showing that 26% of landlords sold at least one rental property during 2024, while only 8% purchased additional rental homes. A further 31% are reported to be planning to reduce their portfolios in the coming years. By comparison, Northern Ireland has seen rents increase by around 51% over the past five years, while tenant enquiries have risen by approximately 33%.
The research introduces the concept of “Rental Wellness”, describing properties that encourage longer tenancies through factors such as energy efficiency, quality living space, location and tenant wellbeing. According to the report, longer tenancies can reduce void periods and re-letting costs for landlords while providing greater stability for tenants.
The report ranked Belfast as the strongest location for long-term rental investment with a Rental Wellness Score of 91, followed by Derry (89), Newry (87), Lisburn (85) and Bangor (84). It said these locations combine affordability, strong tenant demand and long-term occupancy potential, with Bangor benefiting from coastal living, commuter links and lifestyle appeal.
John Minnis, founder of John Minnis Estate Agents, said: “We’re seeing a noticeable shift in what tenants are looking for from a rental property. While location and affordability remain important, renters are increasingly considering the overall quality of life a home can offer.
“Features such as energy efficiency, comfortable living spaces, access to outdoor amenities, strong transport connections and a sense of community are becoming much bigger factors in decision-making, particularly among professionals, families and those working remotely.
“As housing costs continue to rise across the UK, tenants are also placing greater importance on stability. Many people are looking for homes where they can see themselves staying for several years rather than just their next tenancy term.
“Our Rental Wellness research reflects this changing mindset. Properties that provide a better overall living experience often attract longer-term tenants, which is beneficial not only for renters seeking security and wellbeing, but also for landlords through reduced void periods, lower turnover costs and more consistent rental income.
“Ultimately, the strongest-performing rental properties are increasingly those that people are happy to call home for the long term.”
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