Edinburgh properties are the most sought-after in the UK, according to the latest figures released by Zoopla. The data revealed that, on average, houses on the market received 145% more buyer interest than the current national average – highlighting just how popular the city has become.
Unsurprisingly, property investors have picked up on this trend, with many scouring the market for lucrative buy-to-let property for sale. But just what is it about Edinburgh that makes it so attractive to homebuyers and landlords alike? Here’s some more information.
Property Investment Opportunities in Edinburgh
- Competitively priced. Amazingly, given how popular the city is, properties remain relatively affordable – especially when compared to other UK cities such as London. This leads to higher rental yields, and on average, most landlords enjoy a return of between 6-7%.
- Rental rates predicted to rise. YourMove recently conducted a nationwide survey, which demonstrated just how buoyant the rental market in Edinburgh was, with average monthly rental rates reaching £726 per month. RCIS added to this, predicting that rental rates were likely to soar in the next five years, rising by a fifth in total. The results of these reports clearly demonstrate that Edinburgh is an area worth keeping an eye on.
- Huge number of students. Edinburgh boasts four universities in total, so it’s not surprising that the city has a massive student population. There are currently around 60,000 students living in the area, with most requiring rented accommodation. Likewise, there’s a high number of international students, who often seek better-quality digs at a higher rental rate.
- It’s getting bigger… Edinburgh is one of the country’s most prominent business and technology hubs, and this is reflected in its growing population. Thousands flock to the region for work purposes, seeking rented accommodation in the city and the surrounding area.
- Improved transport links. The Borders Rail Line has improved commuting times into Central Edinburgh, which has sparked investor interest in the surrounding areas, such as Gorebridge and Bonnyrigg, where properties are generally cheaper.
UK Property Investment – Edinburgh
When you’re searching for buy-to-let property in Edinburgh, it’s important to consider the following:
- Which tenant? Identify a lucrative demographic before you start browsing the market. For example, the student market is a popular choice, but if you’re targeting university students, you’ll need to search in areas that are close to university buildings, not to mention local amenities.
- Long-term strategy? Investing in a single buy-to-let property for sale will provide a welcome monthly boost to your existing salary (plus hopefully profits from capital growth), but it’s unlikely to provide you with the funds to retire! If you’re serious about UK property investment, think about developing a longer-term strategy – a property investment agent will help you with this.
The Buy2Let Shop Limited
Are you considering investing in property in the UK? If so, it’s a good idea to work with a property investment agent – preferably one that has expert knowledge of the current market. The Buy2Let Shop are a team of property investment agents, and we’re here to help you find the right house or apartment, at a price that suits your budget.
For further information, simply visit The Buy2Let Shop website today.