Commercial property organizations analyzed more than 20 cities across the United Kingdom. They concluded that when focusing more on key drivers, like unemployment statistics, share of renters, affordability, population earnings, rental yield, house price, and GDP growth, just to name a few, the cities with more opportunities were outside the southeast of England.
Edinburgh and Glasgow grabbed the first and second places in a certain report that analyzed data for the first half of this year, 2022. Glasgow scooped the first spot because of its strong growth of house prices, with the average cost for a flat growing 37% in the past five years. Edinburgh as well looks favorable to real estate investors, thanks to its similar level of property price growth and strong economic growth performance.
Most real estate investors are likely to be drawn more towards cities like Edinburgh and Glasgow that have venues of cultural importance and presence on the international stage as conference locations. But according to prominent Scottish property developers, such as Calum Melville, real estate investors may also want to secure properties, which can guarantee long-term returns.
Edinburgh is ever popular, with supply outstripping demand. This makes prices and competition among buyers exceptionally high.
The high demand for rental properties by students and young professionals makes the city a stable location for investment.
On the other hand, Glasgow is an attractive location on its own. It benefits from the overspill demand from frustrated buyers back in Edinburgh. This makes competition vigorous and sold property costs high.
But its good economy and sizable population make the city a perfect option for real estate investors out there.
Regardless of Edinburgh and Glasgow having a high economy, they are apparently the most affordable cities where you can purchase properties and live in. But they also have the fastest-growing home prices.
On average, the home prices in Glasgow and Edinburgh right now are about £130k, which also happens to be about 16% higher than in the last ten years.
Edinburgh and Glasgow are currently the hottest cities for renting, selling, and buying residential properties in the United Kingdom. Benefitting from these two cities’ reputation as top financial student meccas and centers, these hotspots are profitable for individuals with a better understanding of opportunities.
Because of the rising demand, lack of supply, and increasing prices in the normal hunting of properties, visitors have a new appetite for upcoming areas offering a great yield profile.
For people investing in new properties, it might seem daunting to get the next Stockbridge and Finnieston, which can offer both capital and rental growth opportunities. So, for years ahead, the following are places where you can get high-value or high-end land acquisition, office, and residential opportunities in Glasgow and Edinburgh:
- Kinning Park
As with all property investments in Scotland, the buying process in Glasgow and Edinburgh is quite different from that of Wales and England.
So whether you are a highland sports lover, eco-entrepreneur, or family guy looking for a secondary or primary home, you will benefit a lot from the indisputable market value gap in Scotland.