BRITS have slammed an “absolutely depressing” advert which promotes buying to let in Bristol using grim housing statistics.
The ad is part of the launch campaign for The Chocolate Factory luxury apartment complex in Greenbank, near the city centre, and was spotted by one disgruntled local yesterday.
The advert criticises the state of the rental market in the city and instead encourages people to invest in the new development.
However, locals have seen right through the motives behind the ad and are unhappy with the developers “cashing in” on the situation and inevitably slapping pricey rent rates on the housing.
The advert is titled: “Why invest in Bristol?”
It gives a brief description of the new development, making mention of the fact that the city has a burgeoning student population and “suffers from a shortage of stock”, resulting in a record increase of 41% in rents over the past five years.
This fact is painted in a positive light though, with the ad hoping to catch the eye of would-be investors who may be interested in buying to let.
The ad goes on to give a long list of negative numbers about Bristol’s suffering rental market.
It reads: “Rents have increased 41% in the past five years.
“House prices expected to increase 17% by 2027.
“Most expensive city in the UK to rent outside of London.
“City centre population of 470,000 residents.
“Chronic shortage of rental properties.”
Property development company Alliance Investments have used the grim figures to advertise the new apartment complex, which offers one, two and three-bedroom apartments starting from a staggering £276,403, and investment from £41,000.
The listing also reads: “Homes at The Chocolate Factory will provide the best of modern living in an already thriving and sought-after neighbourhood.”
The ad was shared to social media yesterday with the caption: “Saw this absolutely depressing advert on why to buy to let in Bristol.”
It has since received over 420 likes and more than 240 comments from locals keen to voice their displeasure.
One said: “Thanks for sharing this. It’s actually surreal… in the advert, they are openly admitting to profiting as Bristol ‘suffers’ and tenants subject to ‘forced rent’ increases.
“How is this allowed to continue?”
A second wrote: “I knew it would be an investment firm as soon as I saw it. They are all cashing in on this dire situation.
“One bought a new build building opposite me and charge crazy rents… it’s disgusting.
“They also don’t maintain the building at all, the front wall fell down and it’s never been put back together. It looks awful.”
Another said: “Disgusting. The irony of highlighting the lack of rental housing whilst encouraging people to buy it up so they can gouge prices.”
A fourth commented: “Let’s not forget the letting agencies are encouraging landlords to up the rent and goad tenants into bidding wars.”
Another wrote: “F***ing parasites.”
