Property Prices in the Isle of Man are pretty stable. As you would expect, it’s cheaper than London and the home counties but higher than most of the north of England.
In terms of choice – the building stock consists of old and new and so there is plenty of variety. The market has been pretty ‘tight’ since covid so finding the ‘right’ property for sale or rent can be challenging.
Here are some indicative sale prices:
- Modern 1 Bed Flat - £175,000
- Nice 2 bed flat in Modern development on Douglas promenade - £265,000
- 3 bed house on nice estate - £375,000
- Modern 4 Bed family home with garage on estate - £475,000
- Modern 4 Bed Executive home in own grounds - £750,000
And plenty more choice of homes with land / stables etc in the £1m+ if that is your thing.
In terms of rental costs – yields are around 4-5% so beds are around £1000 per month and 3 beds 1200-1400 per month.
In terms of location – we are lucky – as the whole island is nice so there aren’t really any ‘bad’ areas. The airport and the private schools are in the south so there is a slight premium on prices around Castletown and Colby.
