Investing In property in edinburgh
With the market demand for property to rent still high, property investment continues to offer a great return for people letting in many areas of the UK. But when you’re looking for suitable property investments it can be difficult to know which area of the country to buy property in.
Why invest in property to rent in Edinburgh?
Edinburgh is a great location for an investor looking to buy investment property with a view to becoming a landlord. We are now in the busiest month for Scotland’s capital, with the Edinburgh Fringe Festival, major concerts, comedy shows and the Military Tattoo taking place in the city centre, alongside dozens of other events.
The population of the city doubles in the month of August, as thousands of new visitors arrive. In 2022, Edinburgh was named the best city in the world in the annual Time Out survey. It beat Chicago and Medellin in Columbia into first place, further shining a spotlight on Scotland’s premier city. It has great transport links and universities and is attracting technology professionals to settle here in their droves.
Living in Edinburgh – what residents have to say
Time Out quizzes thousands of local people about their lives in the places where they live across the globe and ranks them on everything from community spirit and public transport to food and drink and cleanliness.
Edinburgh scored exceptionally high for walkability (93%) and for being a place where it’s ‘easy to express who you are’ (88%) – better than anywhere else in the world. It scored 95% for being beautiful - no wonder with its ancient castle, stunning architecture and lots of green space. The city also scored 91% for ‘not being rude’ and 96% for ‘not being boring’.
Huge Demand For Rentals
So, with Edinburgh topping the list of the world’s best cities, it’s no surprise that rental properties from single flats to an HMO (home of multiple occupancy) are in such high demand. They are quickly snapped up and rents are at an all-time high.
Many residential properties don’t even go on the market before being rented out. Savvy prospective tenants make sure they’re registered and vetted by letting agents before they start looking, which means they’re ready to sign on the dotted line as soon as they find their dream home.
The demand for property presents a great opportunity for investors to enjoy good returns. This is reassuring for people who are not sure whether to sell their house or for those looking to buy for the first time but are worried about making the wrong choice of location or property type.
Popular Locations To Rent In Edinburgh
Edinburgh is consistently among the UK’s most popular cities to live and work in, and it offers a fantastic rental yield on buy-to-let properties in all locations, from the city centre to coastal areas.
But like everywhere, areas switch popularity and tenants’ demands change. Before the pandemic, proximity to public transport links was an important consideration and tenants were prepared to sacrifice space for location.
New Tenant Demands
But now, with the advent of home and hybrid working, tenants no longer need to get to the office every day and require space for a desk at home and outside space where they can relax.
At Clan Gordon letting agent, we have had our finger on the pulse of Edinburgh’s lettings market since 2007 and we look after more than 500 properties for landlords across the city. As an award-winning letting agent in Edinburgh we know which areas are most popular, what homes appeal to families and professional couples, and what rents are achievable for different areas and properties.
Professional approach to delivering support for our clients
Our professional advisors are highly trained and have significant experience in delivering an outstanding property management service. We have in-house chartered surveyors who use their expertise to help investors every step of the way, from the location and purchase of the perfect property and getting a sound valuation on the achievable rent yield to sourcing reliable tenants and managing the tenancy.
If you are looking for advice on how to source and build your investment portfolio in Edinburgh, schedule a call with a member of our team here to discuss our services. We can answer any questions you have and advise on how to navigate the local property market and provide you with the knowledge and valuable information to help with the decisions you will potentially have to make, put you in touch with solicitors to take care of the legal side of the process and assist with planning in terms of costs and how to manage the business element of your property investment journey.