Investing in residential property in Edinburgh and the surrounding areas can be an absolute goldmine, but knowing when to look, what attributes to look for and who to talk to and can be difficult and intimidating.
That’s why Hibernian FC Community Partner Cox & Co exist, they’re here to assist you at any point in your property investment journey, whether you’re just looking for some initial advice, need the right mortgage for you to invest, or whether you need the perfect investment property sourced and managed for you.
Cox & Co’s Neil Bukes has taken a look at why the Scottish capital is one of the best places to have a residential property investment venture.
Edinburgh is the perfect city
Edinburgh has grown to become one of the UK’s best economic cities outside of London over the last 30 years. The City’s population has grown by over 70,000 since 2010, and is projected to expand to a further 100,000 people over the coming decades.
The capital city wins the silver medal for the biggest financial centre in the UK and has rapidly growing tech, city centre shopping, hospitality and tourism industries. It also has great accessibility to multiple key locations throughout the city makes it a fantastic location for any buy-to-let property.
An Ideal Population for Residential Property Investment
With a population of over 548,000 people along with high levels of employment rates with lots of opportunities available, Edinburgh’s population has a hugely skilled workforce and is seen as quite wealthy with the average resident having access to between £20,000 and £22,000 of expendable income.
With over 60,000 undergraduate students and postgraduate students living and studying in Edinburgh, this gives investment property and student accommodation property investors more chance of longer-term tenants.
Scotland’s Capital Has a Dense Population and Beautiful Scenery
Despite a high percentage of apartments, Edinburgh has the lowest population density rate in the UK, meaning they’re good candidates for investment. Edinburgh is famous for it’s beautiful scenery and the city boasts the highest percentage of green space in the UK at 49%.
Property values and prices are high with the beautiful green and outdoor spaces across Edinburgh.
The Residential Real Estate Economy
Edinburgh has a strong real estate market which adds to its economic strength. Real estate is responsible for 12% of the Edinburgh’s GDP, adding over £2 billion to the city’s annual economic output. The capital has one of the highest rates of household growth in Scotland at 7.1%. With a high volume of over 12,000 properties being bought and sold per year, the average house price is £326,000.
Cox & Co are firm believers in the power of investing in bricks and mortar, whether that’s for the purposes of finding a new family home or an addition to your existing investment portfolio. With highly experienced, professional support for property sourcing, mortgages of all kinds as well as property management, Cox & Co can support you through every step of your property investment journey.