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8 Steps to becoming a landlord in Edinburgh Ah, Edinburgh! The city of enchanting castles, winding cobbled streets, and the world-renowned Edinburgh Festival Fringe. Beyond its historical charm and vibrant arts scene, the Scottish capital is also a hotspot for property investments. Fancy joining the community of landlords in this mesmerising city? You’re in for an adventure! Here’s your guide to becoming a landlord in Edinburgh, with Cairn leading the way. (1) Celebrate Edinburgh’s Diversity Before diving deep into landlord responsibilities, let’s take a moment to appreciate Edinburgh’s diversity. From the medieval marvels of the Old Town to the elegant Georgian terraces of New Town, and the bustling student hubs around the University of Edinburgh, each terrain offers unique letting opportunities. (2) Understand Your Responsibilities First things first: being a landlord isn’t just about collecting rent. There are legal responsibilities, from ensuring your property is safe for tenants to protecting their deposits. Cairn is here to ensure you’re not just compliant but confident in your role. (3) Getting Your Property ‘Tenant Ready’ Give your property a critical once-over. Consider small renovations or even just a fresh coat of paint. Remember, a property in top shape attracts reliable tenants and better rental income. (4) Navigate the Maze of Licensing and Regulations Edinburgh has specific licensing requirements, especially if you’re considering becoming an HMO (House in Multiple Occupation) landlord. But don’t get bogged down in the bureaucracy – let Cairn guide you through the complexities. (5) Set the Right Rent Research is crucial. Too high and you may struggle to find tenants; too low and you might not cover your costs. Cairn’s experts, with their finger on the pulse of Edinburgh’s property market, can help you set an appropriate, competitive rate. (6) Choose Your Tenants Wisely Selecting the right tenant can make or break your experience as a landlord. Comprehensive background checks and interviews will ensure you find trustworthy and reliable tenants. (7) Dive into Edinburgh’s Vibrant Communities Engage with local communities. Perhaps you own a flat in Leith, famous for its ports and cultural diversity, or a family home near the verdant meadows of Bruntsfield. Understand the unique pull of each area to market your property effectively. (8) Continuous Learning with Cairn Stay updated with property regulations, market trends, and community insights. Cairn offers continuous support and education to ensure you remain a top-notch landlord in Edinburgh. In conclusion, becoming a landlord in Edinburgh is not just about owning a piece of this historic city but being a part of its ever-evolving story. With Cairn by your side, this journey promises to be as exciting as a stroll down the Royal Mile during the Fringe! Get in touch with our Edinburgh Office.

Buy To Let, Edinburgh, Glasgow, Investment, Landlords, Properties For Sale, Property Investment

Off-Market Property Opportunities – Scotland

Off-Market Property Opportunities – Scotland Scotland’s property market has always been dynamic, attracting investors with its rich history, diverse property types, and strong potential for capital growth. But beyond the traditional real estate listings and public auctions, lies a niche yet fruitful avenue for investors: off-market property opportunities. Why Consider Off-Market Property Opportunities? Exclusivity: Off-market deals offer a distinct advantage in terms of exclusivity. You’re getting access to properties that aren’t advertised publicly, giving you a competitive edge in a market as vibrant as Scotland’s. Flexibility in Negotiation: Without the pressures of public listing deadlines and open viewings, both buyers and sellers in the off-market realm can enjoy more relaxed timelines and potentially more favourable terms. Discreet Transactions: Some sellers prefer off-market sales for the sake of privacy, ensuring that the sale doesn’t attract undue attention. Potential Value: Because off-market properties might not have been dressed up for sale, they might be priced more realistically. With the right investment in refurbishment and development, there’s potential for significant capital appreciation. Cairn: Leading the Way in Off-Market Opportunities For those considering venturing into Scotland’s off-market property sector, Cairn positions itself as a trusted partner with deep connections and experience. Their longstanding reputation and presence in the sector has led to direct approaches from sellers, which means they’re often privy to some of the most attractive & appealing off-market deals available. Furthermore, Cairn’s well-established relationships with property professionals can provide access to off-market opportunities that might not be available through other channels. Stats and Insights on Scottish Property Market: According to the Scottish Government’s Quarterly Housing Market Review (source: Scottish Government, 2022), there has been a noticeable increase in the demand for residential properties, which has inadvertently pushed some sellers and investors to look at alternative methods of transaction, such as off-market sales. This trend not only highlights the dynamic nature of Scotland’s property market but also underlines the benefits of off-market opportunities, where exclusivity and discretion can lead to a better arrangement for both buyer & seller. Conclusion: As Scotland’s property market continues to evolve, off-market opportunities present a unique proposition for investors seeking exclusivity, value, and flexibility. And with Cairn at your side, you’re not only getting access to these opportunities but also the assurance of working with a partner who knows the ins and outs of this distinct segment of the market. Whether you’re an experienced investor or just starting out, diving into the world of off-market properties in Scotland with Cairn’s guidance could be your next strategic move. Explore our Investment Services Page.

Buy To Let, Edinburgh, Investment, Landlords, Portobello, Property Investment

Tips for overseas investors in Edinburgh property

Tips for Overseas Investors in Edinburgh Property Edinburgh, with its rich history and vibrant culture, is not just a prime tourist destination; it’s also a hub for overseas property investors. Whether you’re a seasoned investor or just beginning to explore opportunities in the Scottish capital, it’s crucial to have a deep understanding of the local property market. With that said, Cairn Estate & Letting Agency, with years of experience and unparalleled knowledge of the Edinburgh property scene, shares essential tips for overseas investors. Understand Your Investment Objectives: Before delving into the market, it’s paramount to outline clear objectives for your property investment. Are you looking for capital growth, or is your primary focus the yield expectation? Ideally, you are evaluating the required landlord time commitment, be it HMO or traditional single let. Defining these objectives will shape your investment journey. Leverage Expert Market Analysis: The property market is driven by trends, and having expert analysis at your fingertips can make all the difference. Using industry information portals, Cairn offers in-house and dedicated subscription data on property prices and market trends, ensuring that overseas investors are equipped with the most recent and relevant data. Capitalise on Established Industry Connections: One advantage of partnering with Cairn is the agency’s industry reputation, leading to direct approaches from sellers. They have nurtured relationships with property professionals, opening the doors to “off” market opportunities that might be hidden from the average investor. Stay Updated: The property market is dynamic, with prices, trends, and opportunities shifting frequently. Cairn aids its investors by providing monthly property list updates and reviews of client objectives, ensuring that every decision made aligns with the latest market insights. Weigh Opportunities against Your Investment Profile: It’s not just about identifying opportunities; it’s about recognising the ones that align with your investment profile. From development appraisals to capital growth estimates and rent and yield predictions, Cairn ensures that each opportunity resonates with the client’s specific objectives. Navigate the Development and Project Management Maze: For those looking to invest in property development, navigating the maze of local authority consents, cost tenders, and contractor appointments can be daunting. Cairn simplifies this process, offering comprehensive services that encompass everything from project assessment to site inspections and reporting. In Conclusion: Investing in Edinburgh’s property market from overseas can be both rewarding and challenging. By enlisting the expertise of Cairn Estate & Letting Agency, overseas investors can access the industry insights, connections, and tailored services needed to transform challenges into opportunities. Whether you’re considering a single buy-to-let property or aiming to expand a diverse portfolio, Cairn stands as the ideal partner in your Edinburgh property journey. For more insights into the Edinburgh property market and tailored guidance for overseas investors, contact one of our friendly property investment professionals.

Buy To Let, Edinburgh, Glasgow, Property Investment

Discover Profitable Opportunities: Property Portfolios for Sale in Glasgow & Edinburgh

Off-Market Property Portfolios for Sale in Glasgow & Edinburgh Property investment has long been a popular and lucrative business venture, and within the thriving cities of Glasgow and Edinburgh, this is no different. Cairn boast an array of property portfolios for sale, presenting investors with countless opportunities to build a diverse and profitable investment portfolio. With a combination of traditional and modern properties available, investors can choose from a diverse range of residential properties to suit their investment objectives. In recent years, Glasgow and Edinburgh have experienced significant growth in the property market, with high demand for rental properties. This makes it an ideal time for investors to consider buying a property portfolio in these cities. As well as offering a range of attractive investment opportunities, purchasing a property portfolio with Cairn in Glasgow and Edinburgh can provide a long-term investment strategy, as the market continues to flourish. Contact Cairn Estate and Letting Agency for property portfolios currently for sale and to be added to our investor off-market opportunities mailing list. The advantages of investing in property portfolios Investing in a property portfolio offers numerous advantages over purchasing individual properties. One of the primary benefits is the potential for diversification, as a portfolio allows investors to spread their risk across multiple properties. This means that if one property underperforms, the impact on the overall portfolio is minimised. In addition, investing in a property portfolio can provide a steady and reliable source of rental income. By owning a range of properties in different locations and catering to various tenant demographics, investors can benefit from a more stable and consistent rental income stream. This can be particularly appealing for those looking to generate a passive income or supplement their retirement savings. Key factors to consider when buying a property portfolio When considering a property portfolio for sale, there are several key factors that investors should take into account. These include: Location: The location of the properties within the portfolio is crucial, as this can have a significant impact on rental demand, capital growth, and overall investment performance. Investors should research the local property market, considering factors such as employment opportunities, local amenities, and transport links. Property type: The type of properties included in the portfolio is also important, as different property types can offer varying levels of risk and return. Investors should consider their investment objectives and risk tolerance when evaluating the property types within a portfolio. Tenant profile: Understanding the target tenant demographic for the properties within a portfolio can help investors to gauge rental demand and potential rental income. Factors such as local employment opportunities, schools, and universities can influence the types of tenants attracted to a property. Rental yield: The rental yield – the annual rental income as a percentage of the property’s value – is a key indicator of a property’s investment potential. Investors should aim for a rental yield that meets or exceeds their investment objectives and should compare the rental yield of a portfolio with other similar properties in the area. Capital growth potential: While rental income is important, investors should also consider the potential for capital growth, as this can significantly impact the overall return on investment. Factors such as local property market trends, infrastructure developments, and regional economic growth can influence capital growth potential. Assessing the value of an investment property portfolio for sale Evaluating the value of an investment property portfolio for sale is a critical step in the investment process. Investors should carefully analyse the financial performance of the portfolio, considering factors such as rental income, operating costs, and potential capital growth. A thorough property inspection should also be conducted, assessing the condition of the properties within the portfolio and identifying any potential maintenance or repair issues. This can help investors to gauge the potential costs associated with owning the portfolio and inform their decision-making process. Finally, investors should consider the potential for future growth within the local property market, taking into account factors such as demographic trends, infrastructure developments, and economic growth forecasts. This can help to determine the long-term potential of the portfolio and identify any potential risks or challenges. Managing and growing your property investment portfolio Successfully managing and growing a property investment portfolio requires careful planning and ongoing attention. Investors should consider engaging the services of a professional property manager to help oversee the day-to-day management of the portfolio, including tenant relations, rent collection, and property maintenance. Regular portfolio reviews should also be conducted, assessing the performance of individual properties and identifying any potential areas for improvement. This may include strategies such as refinancing, property improvements, or adjusting rental rates to maximise rental income and capital growth. Finally, investors should continually monitor the local property market and stay informed about potential investment opportunities. This can help to identify new properties to add to the portfolio, enhancing diversification and ensuring the continued growth and success of the investment. Expert advice and support for property investors For those considering investing in a property portfolio in Glasgow and Edinburgh, seeking expert advice and support can be invaluable. Property investment professionals can provide guidance on market trends, investment strategies, and financing options, helping to ensure that investors make informed decisions and maximise their investment potential. If you’re ready to explore property portfolios for sale in Glasgow and Edinburgh, contact Cairn Estate and Letting Agency to discuss investment portfolios we have for sale and to be added to our investor off-market property mailing list. With expert advice and support, you can confidently navigate the investment process and discover the potential of property portfolios in these thriving Scottish cities.

Buy To Let, Edinburgh

Buy-to-Let in Edinburgh: Where to Look?

Buy-to-Let in Edinburgh: Where to Look? Looking for the best areas to buy-to-let in Edinburgh? This post’s for you… Edinburgh is one of the best places to buy-to-let in the UK. With six universities, a thriving commercial centre (boasting over 50,000 businesses), and a growing population projected to reach 586,566 by 2043, it’s the ideal city for expanding your rental portfolio. But if you want to maximise your income on a buy-to-let investment, you must choose the area carefully. Depending on your budget and target market, some parts of the city will make more sense than others. Read on to discover the best locations for buy-to-let investors in Edinburgh. But first… Why Buy-to-Let in Edinburgh? There are several great reasons to consider Edinburgh property investment in 2023. According to a study by commercial property advisor Colliers, the Scottish capital was named the second best city for residential property investment in the UK — Cambridge was first, and London came fourth. The city’s house price growth, high-quality universities, and strong economic performance all combined to help Edinburgh nab the runner-up spot. And with a population that’s been trending upwards since the early 90s, there’s no shortage of demand for rental properties among students, professionals, and families. Read More: 4 Huge Reasons Why You Should Buy-to-Let in Edinburgh Five Buy-to-Let Edinburgh Hotspots: The Best Postcodes in Edinburgh For Property Investment 1. EH16 – Liberton and surrounding areas Average property price: £260,000 EH16 is a consistently popular area for buy-to-let in Edinburgh. Covering Liberton (and the neighbouring suburbs of Craigmillar, Peffermill and Niddrie), EH16 offers various residential properties. Liberton is situated around three miles from the city centre, making it ideal for both professionals and students. Liberton High School, renowned for academic and sporting achievements, makes rental properties in this part of the city particularly sought after by families. Search for properties for sale in EH16 2. EH17 – Gilmerton, Moredun and Mortonhall Average property price: £285,000 Benefiting from good access to the city bypass, homes in EH17 (Gilmerton, Moredun and Mortonhall) appeal to tenants who need to reach other areas of the city or venture further afield. The area is also close to many of the University of Edinburgh’s buildings, making it popular with students. Search for properties for sale in EH17 3. EH11 – Try Dalry or Gorgie for Buy-to-Let in Edinburgh Average property price: £230,000 Southwest of the city centre, EH11 covers Dalry and Gorgie. With excellent transport links, it’s no surprise that properties here are popular with a wide range of tenants. Homes in EH11 also tend to be more competitively priced, making it an ideal area for investment. And since this is an up-and-coming part of Edinburgh, you can expect to make a healthy ROI. Search for properties for sale in EH11 4. EH7 – Broughton, Hillside and Lochend Average property price: £260,000 The area of Broughton is in high demand. Both young professionals and students enjoy its proximity to the city centre — but without the high housing costs associated with other areas. Bars, restaurants, cafes, and delis line Broughton Street, making it a vibrant and highly sought-after area. Property in Broughton, as well as neighbouring Hillside, tends to attract higher selling prices. For more competitively priced property, take a closer look at the area of Lochend. Search for properties for sale in EH7 5. EH8 – Newington and Canongate Average property price: £290,000 EH8 is a fantastic location for students attending the University of Edinburgh, with Newington and Canongate both situated near university buildings and an array of bars, eateries, and shops. And with Holyrood Park and the Meadows right on the doorstep, there are plenty of green spaces to enjoy. If you want to rent to students in Edinburgh, properties in the EH8 district should be your first port of call. Search for properties for sale in EH8 Buy-to-Let in Edinburgh with Cairn Property The best areas for buy-to-let properties in Edinburgh will always come down to the type of property you’re looking for and the person (or people) you’re targeting. Do you want to rent an HMO to students? Or would you prefer to let your property to a young professional or a family? Working with an experienced property investment company, like Cairn, can help you answer all of these questions and more. We’ll help you determine the best business model for your situation and zero in on the location and property type you require. And when you’re ready to rent, we can handle the marketing and ongoing management of your property on your behalf. If you’re interested in buy-to-let opportunities in Edinburgh, get in touch with our property investment experts to learn more about our approach and services.

Buy To Let, Glasgow

Buy-to-Let Glasgow Hotspots: Where to Look?

Buy-to-Let Glasgow Hotspots: Where to Look? An increasing number of investors are choosing to buy-to-let in Glasgow — and with good reason. Not only is it the largest city in Scotland, with a growing population of over 1.6 million, but it also boasts one of the largest economies in the whole of the UK. Industries like financial services, digital technology, health, and green energy employ thousands of people in the city. Plus, with five universities, there’s always a constant supply of students seeking rental properties. So, if you’re attracted by affordable housing and great yields, we’ve pulled together the best buy-to-let hotspots in Glasgow. But first… Why Buy-to-Let in Glasgow? In short, the demand. Recent research by Admiral found that demand for rental properties in Glasgow currently outstrips supply, with 998 prospective renters for every 100 available rental properties. Only Salford (1,076 people for every 100 rental properties) has a higher tenant demand in the UK. This demand has seen the average Glasgow rent climb to £992 PCM, while the average time to let is only 31 days. So, if you’re interested in Glasgow property investment, the good news is you’re bound to find tenants quickly! And Then There’s the Housing Stock Beyond the demand, there’s also variety. Glasgow has distinct areas north, south, east, west, and central, each with its own rich history and architectural style. When you think of Glasgow property, your mind might immediately leap to the classic red stone Glasgow tenement buildings. A product of the industrial revolution, these beautifully spacious flats are highly sought after — particularly in the West End of the city. But there’s more to Glasgow than tenements alone. The city enjoys a mix of new and traditional buildings at various price points, including modern apartments, family homes, and HMOs. So, where you should you look? Here are the top Glasgow postcodes for buy-to-let. Five Buy-to-Let Glasgow Hotspots: The Best Postcodes in Glasgow for Property Investment G51 – Govan, Ibrox, Linthouse Located on the south bank of the River Clyde, G51 is a diverse area, with much of it consisting of industrial estates. However, don’t let this put you off. It’s set to undergo significant regeneration, with a new bridge planned and various digital start-up businesses setting up here. Plus, with the Queen Elizabeth University Hospital complex and several shopping centres in the area, property here is likely to be in high demand. Govan, the main residential area, has great transport links, with the Glasgow Subway line making it easy to access the city centre in under 15 minutes. The G51 area has generally been less popular with buyers, due to its reputation as an ex-heavy industrial area. As a result, prices tend to be lower, so you may just find yourself a bargain! Search for properties for sale in G51 G52 – Cardonald, Mosspark, and Penilee You’ll find a range of competitively priced properties in the G52 postcode. And with an average buy-to-let yield of 8.71%, you can expect to make a significant ROI. This area of southwest Glasgow has a diverse housing stock, while it also benefits from excellent transport links into the city centre and further afield. Tenants can enjoy a variety of amenities too, with supermarkets, shops, and eateries aplenty. Search for properties for sale in G52 G32 – Shettleston, Sandyhills, Carntyne Over the years, the G32 postcode has become increasingly popular with buy-to-let investors in Glasgow. The areas of Shettleston, Sandyhills, and Carntyne in the city’s East End not only benefit from lower house prices compared with other parts of the city, but they also have fantastic transport links. You’ll find a wide range of properties in G32, from one-bed flats to larger family homes. Shettleston is a popular area for buy-to-let due to its excellent amenities, including a health centre, Tesco supermarket, and a train station. Search for properties for sale in G32 G11 – The West End The West End is one of the most desirable residential areas in Glasgow. Popular with young professionals, families, and students due to its proximity to Glasgow University, property here is highly sought after. Whilst it’s more expensive than other areas of the city, the sheer demand for homes here presents fantastic buy-to-let opportunities. Byres Road is the heart and soul of the West End, with many pubs, clubs, restaurants, cafes, and shops. Popular residential areas include Hillhead, Kelvinside, Downanhill, Broomland, and Anniesland. For cheaper alternatives, consider the areas fringing the West End, including Garnethill, Patrick, and Yorkhill. Search for properties for sale in G11 G61/G62 – Bearsden, Milngavie Although technically in Greater Glasgow, many families and professionals are drawn to Bearsden (G61) and neighbouring Milngavie (G62) for a number of reasons. With reputable schools and handy transport links, these commuter towns offer a divine slice of Scottish suburbia. You’re only around 30 mins from the city centre. Fair warning: larger houses in these parts tend to be more expensive than in other parts of Glasgow, although several affordable housing developments have been introduced over the past few years. Search for properties for sale in G61 Search for properties for sale in G62 Interested in These Buy-to-Let Glasgow Hotspots? Talk to Cairn With decades of regeneration transforming Glasgow into one of the most modern and sophisticated cities in the UK, it’s no surprise that the demand for rental properties here is so high. Rental prices are rising, and with affordable housing still available in many areas of the city, now is the perfect time for buy-to-let Glasgow. Interested in buy-to-let opportunities in Glasgow? We can help. Get in touch with our property investment experts to learn more about our approach and services. .flex_column.av-av_one_full-53b0b300fb3685750664fb085c5ad19d{ -webkit-border-radius:0px 0px 0px 0px; -moz-border-radius:0px 0px 0px 0px; border-radius:0px 0px 0px 0px; padding:0px 0px 0px 0px;

Buy To Let, Edinburgh, Investment, Property Investment

Edinburgh Property Investment: Is It Still Worth It in 2023?

Edinburgh Property Investment: Is It Still Worth It in 2023? Interested in Edinburgh property investment? Here, we explain why it’s still a great idea. Investing in buy-to-let in Edinburgh is a no-brainer. Scotland’s cosmopolitan capital boasts stunning properties, a thriving economy, a growing student population, and huge rental demand. In short, it’s the ideal mix for property investors. But why should you spend your money here in 2023? Let’s explore the attraction of Edinburgh in a little more detail. Edinburgh Property Investment — Why Invest in the Capital? Edinburgh Fast Facts Population: 548,000 (2022) House Price Avg: £338,000 (2022) Monthly Rent Avg: £1,327 (2022) Typical Rental Yield: 4% – 6% (the UK average is 4%) Auld Reekie: A City On the Rise It might seem odd to describe a city first founded before the 7th century AD as one “on the rise,” but in property investment terms, that’s Edinburgh in a nutshell. The (Second) Best UK City for Property Investment According to a major study by commercial property advisor Colliers, the Scottish capital came second as the best city for residential property investment in the UK — pipped to the post by Cambridge (London came fourth). The city’s house price growth, high-quality universities, and strong economic performance helped Edinburgh take silver in this particular contest. But there were a variety of other impressive points worth noting where Edinburgh property investment is concerned, including: 1. Historically Low Unemployment Rates Edinburgh’s unemployment has been historically much lower than in most other UK cities, with students and young professionals drawn to the area thanks to higher education and employment opportunities. With more people working, demand for rental properties remains high, while rental rates stay competitive. 2. A Beacon for Major Employers More and more employers are setting up shop in Edinburgh due to its large population, diverse economy, and highly skilled workforce. A powerhouse of the Scottish economy, key sectors include financial services, software and technology, tourism, and retail. 3. A Commuter’s Dream Edinburgh City is incredibly well-connected to its surrounding areas, with several major roads, train lines, and other public transport links converging on the capital. If your property investment budget doesn’t stretch to the city centre, you could still take advantage of Edinburgh’s magnetic draw by looking to the outskirts. 4. A Thriving Student Market Edinburgh is home to 6 universities and 3 colleges. The city attracts students from across Scotland, the UK, and the rest of the world — and these students need to live somewhere! Consider investing in high-quality HMO student accommodation in Edinburgh to meet the demand from student tenants and earn greater yields than standard buy-to-let properties. 5. A Population That Could Soon Rival Glasgow Edinburgh’s population has been on an upward trend since the 1990s, and it shows no signs of slowing. As of 2022, it sits at a whopping 548,000, and this is projected to grow to over 603,000 by 2035. This means it could rival — and even overtake — Glasgow at some point in the near future. And a growing population means a greater demand for housing stock. Worth keeping in mind if you’re trying to choose between the two cities! Read more: Property Investment In Glasgow: Where To Spend Your Money in 2023 So, Where to Buy? Edinburgh Buy-to-Let Hotspots We dig a bit deeper into the postcodes and places to buy in Edinburgh in this post: Buy-to-Let in Edinburgh: Where to Look? But if you want the headlines, here goes… The southwest is an up-and-coming part of the city, with competitively priced properties and fantastic transport links. Check out EH11 and Dalry and Gorgie in particular. EH16 (Liberton and surrounding areas) is consistently popular for buy-to-lets. Situated a mere three miles from the city centre, it’s ideal for students and professionals alike. The neighbouring areas of Broughton, Hillside, and Lochend also offer close proximity to the centre, but without the high costs associated with other parts of the city. Trendy bars, cafes, and restaurants make this a vibrant and sought-after locale. Ready to invest in Edinburgh? Start your property search here. Cairn: Edinburgh Property Investment Experts So, is purchasing a buy-to-let property in Edinburgh worth it in 2023? Absolutely — so long as you know where to look. That’s where we come in. Our property investment experts are ready to help you find your next buy-to-let opportunity in the capital. Get in touch to learn more.

Buy To Let, Glasgow, Investment, Property Finance

Property Investment In Glasgow: Where To Spend Your Money in 2023

Interested in property investment in Glasgow? Here Cairn profiles the most popular areas of the city. Investing in buy-to-let in Glasgow is a no-brainer. A bustling, modern European city with a vibrant student population, a thriving economy, vital transport links, and huge rental demand, Scotland’s largest city represents a golden opportunity for property investors. But where should you spend your money in 2023? Let’s explore Glasgow in a little more detail. Why Invest in Glasgow Property? Glasgow Fast Facts Population: 635,640 (2020) House Price Avg: £207,250 (2021) Monthly Rent Avg: £992 (2021) Rental Yield Avg: 5% (the UK average is 3.6%) Around a third of Scotland’s entire population lives in or around Glasgow. The city itself has a population of 635,640 (as of 2020), while the Greater Glasgow area is home to around 1.8 million. The sheer number of people in this part of Scotland makes property investment in Glasgow very attractive — and for two reasons in particular: 1. There’s a Huge Demand for Rental Properties According to research by Admiral, demand for rental properties in Glasgow far outstrips supply, with 998 prospective renters for every 100 available rental properties. Only Salford (1,076 people for every 100 rental properties) has a higher tenant demand in the UK. For comparison, Edinburgh came fourth in Admiral’s list, with 535 potential renters for every 100 available properties. This demand has seen the average Glasgow rent climb to £992 PCM, while the average time to let is only 31 days. Bottom line? If you invest in a buy-to-let property in Glasgow, it probably won’t be empty for very long. 2. Business is Booming Glasgow isn’t just home to almost two million people. It’s also the beating heart of Scotland’s economy. According to Invest Glasgow, the city region generates 34% of all Scottish jobs and plays host to one of the fastest-growing technology investment hubs in the UK. Beyond that, leading industries include public health, hotels, restaurants, distribution, banking & finance, insurance, transport, and communication. Glasgow’s workforce is diverse, highly educated, and bringing home, on average, £30,000 a year. So, not only is there a huge demand for rental properties in Glasgow, that demand is being driven by desirable, professional tenants. Property Investment In Glasgow — Area By Area Wondering where to invest in Glasgow buy-to-let property? Here are 5 key areas worth exploring. 1. The City Centre Average house price: £205,000 Home to both traditional properties and modern new-builds, Glasgow’s city centre boasts plenty of choices, no matter your target market. Although many people working in the centre prefer to live outside of its boundaries, many more call it home. This is especially true of Glasgow’s student population. The fashionable Merchant City is worth a look if you’re hoping to rent to young professionals, while areas like Townhead, Charing Cross, and Cowcaddens are all within walking and public transport distance of the city’s universities. 2. The West End Average house price: £245,000 The best West End estate agents rarely have trouble letting properties in this stunning part of the city. Popular with young families thanks to its green space, young professionals thanks to its transport links, and students, thanks to its bars, cafes, and proximity to Glasgow University, demand for rental properties here is through the roof. Of course, this level of demand has a knock-on effect, with many of the properties in the West End among the most expensive in Glasgow. But if you find something that works for your budget, you could be onto a winner. Consider areas like Hillhead, Kelvinside, Dowanhill, Yorkhill, and Partick for any of the target markets mentioned above. 3. The East End Average house price: £180,000 Home to Dennistoun, recently named the 8th coolest neighbourhood in the world (the WORLD!), the East End of Glasgow is chock-full of character. From the iconic red sandstone tenements to thriving independent businesses, the East of the city is particularly popular with students and young families. Thanks to regeneration activities brought about by the 2014 Commonwealth Games, the East End is beginning to catch up with other parts of the city after years of neglect. Yet it remains cheaper than the city centre and the West End, so you could nab yourself a buy-to-let bargain. 4. The Southside Average house price: £200,000 When you venture south of the River Clyde, you’ll find a mixed bag of property investment opportunities. A traditionally industrial area of the city, riverside regeneration has brought a modern feel to many areas, while others remain affected by social problems. Areas like Govan, Ibrox, and the Gorbals offer a variety of affordable property types boosted by vital transport links. Meanwhile, the likes of Shawlands, Newlands, Queens Park, and Langside have a trendy vibe popular with young families and professionals. These properties are pricier, but always in demand. 5. Bearsden and Milngavie Average House Price: £291,000 Although technically in Greater Glasgow, Bearsden (G61) and neighbouring Milngavie (G62) remain popular with families and professionals alike. With great schools and handy transport links, these commuter towns offer a divine slice of Scottish suburbia, while also linking the outskirts of the city to Loch Lomond, the Trossachs, and the West Highlands. Larger houses in these parts tend to be more expensive than in other parts of Glasgow, although several affordable housing developments have been introduced over the past few years. Cairn: Property Investment In Glasgow Whether you’re looking east, west, south, or central, you’ll have plenty of choice in Glasgow. Do you want to learn more about investing in buy-to-let properties in the city? Get in touch with our property investment experts today. We’re here to help!

Buy To Let, Landlords, Legislation, Property Investment

Tax Breaks for Landlords: Will Holyrood Follow Suit?

Tax Breaks for Landlords: Will Holyrood Follow Suit? It’s all change in the UK. We have a new Prime Minister, a new Chancellor, and a new (mini) budget. For landlords in England and Northern Ireland, the tax breaks described in Kwasi Kwarteng’s budget could represent tens of thousands of pounds in savings. But for their Scottish counterparts, it’s simply a case of waiting to see if Holyrood (the Scottish Government) follows suit. In this short blog post, we recap the mini-budget’s impact on landlords and share some thoughts on Holyrood’s potential response. How will the mini-budget affect landlords? In case you missed it, here are the main points from the mini-budget that’ll affect landlords: The basic income tax rate will be cut to 19p (from 20p) from April 2023. The 45% higher rate will be abolished and replaced with a single higher rate of 40%. Stamp duty land tax will be cut in England and Northern Ireland. The limit for buyers will be raised to £250k (from £125k) — or £425k for first-time buyers. The planned increase in corporation tax has been cancelled. It will remain at 19%. The planned rise in National Insurance contributions will be reversed from 6 November. According to an analysis by tax firm Blick Rothenberg in the Telegraph, the corporation tax rate remaining at 19% will save an incorporated landlord with £250,000 in rental profits £15,000 a year. Meanwhile, the change in Stamp Duty rates means landlords buying property worth up to £250k will have less to pay. Previously, buy-to-let investors had to pay a 3% surcharge on purchases up to £125k, and a further 5% on anything between £125,001 and £250k. Now it’ll be a straight 3% up to £250k, 8% between £250,001-£925,000, 13% between £925,001-£1.5m and 15% for anything £1.5m+. Example: Under the new rules, Stamp Duty for a property worth £249,000 in England will be £7,470, down from £9,950 under the old rules. However, much of this will not affect Scottish-based landlords The cut in additional rate income tax (from 45% to 40%) on earnings above £150,000 won’t apply in Scotland. The rate in Scotland will remain at 46% for the time being. Similarly, the cut in basic rate tax from 20p in the pound to 19p won’t be seen in Scotland. And the Stamp Duty cut will only apply in England and Northern Ireland. Scotland has its own system: Land and Buildings Transaction Tax (LBTT). The current LBTT rates mean buy-to-let investors need to pay a 3% surcharge on purchases up to £145k, 5% between £145,001-£250,000, 8% between £250,001-£325,000, 13% between £325,001-£750,000 and 15% for anything £750,001+. So, for a £249,000 property in Scotland, LBTT is currently £12,040 — a significant difference from south of the border. Will Holyrood mirror Westminster? That is the question. And right now, the answer seems to be “no.” The First Minister, Nicola Sturgeon, has heavily criticised the Chancellor’s decision to abolish the top rate of income tax and has hinted that she has no interest in “blindly following suit”. As it stands, the Scottish Government probably won’t make a final call on income tax rates until its draft budget is presented to Holyrood. We’ll be keeping a close eye on developments. If you’d like to get more posts like this in your inbox, sign up for our regular newsletter.

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