Adding Scottish Properties to your Portfolio

The Scottish property market has had its fair share of ups and downs, like the rest of the United Kingdom. Just this week it was reported that average property prices here fell by almost £17,500. This puts buyers in a stronger position as many sellers are lowering their asking prices as well, and some industry experts expect this situation to remain the same over the next few months.

Flats and terraced houses were some of the few properties which have still been selling marginally above asking price. This could be worrying for some landlords as these types of property are usually the most sought after in the rental market. Detached properties on the other hand are selling on average, 20% below their asking price which is beneficial for landlords as the landscape of the rental market changes. More families and mature people are looking to rent homes similar to what they desire to purchase as buying remains extremely difficult.

This situation gives landlords a golden opportunity to increase their portfolio with Scottish properties; however the laws and regulations may slightly differ in this country so it is important to research them thoroughly before committing to a purchase. Equally as important is the research into finding a good landlord insurance quote.

Houses in the City

Glasgow, Aberdeen, Dundee and the capital city of Edinburgh are the most well known Scottish cities. There are a number of industries for residents to work in and the transport links are excellent so people are unlikely to feel too cut off from the rest of the UK. Scotland is also home to extremely popular universities, with native students having the benefit of not paying tuition fees unlike those undertaking higher education in England and Northern Ireland. Despite this fact, non-Scottish student’s tuition fees are still lower than in the rest of the UK. So in theory, there should be a solid demand for rental properties from students as there is a great appeal to study in the country.

Rural Property Locations

For tenants in need of a quieter way of life, there is an abundance of countryside villages and towns which landlords could also target as a holiday let location. They include the Highlands, Ayrshire, Inverness and Loch Ness amongst many others. The region of Fife is one area to particularly take note of. This location provides people with great outdoor activities and scenic views. It is also home to Scotland’s oldest University which is on par with Oxford and Cambridge University. The University of St. Andrews attracts great numbers of ambitious students, most famously the Duke and Duchess of Cambridge, William and Kate. About half of the student population live in university accommodation, but there is still a great opportunity to provide alternative student housing.

Leave a Reply