Legal Guide to Glasgow’s Student Buy-to-Let Properties
According to recent statistics from Zoopla Glasgow, is the best area in the UK for student buy-to-let properties, with landlords getting on average a pre-tax return of 5% of their investment. With Glasgow being one of the largest areas for students to stay, with roughly 170,000 students in the city it can be difficult to know exactly where to invest.
We take our knowledge of the city to highlight where the best areas to invest are, and where you may be able to get the highest amount of rent.
Buy-to-Let Property in Glasgow’s Student Areas
With London coming in as the 10th most popular place to invest in for student properties, and Glasgow topping the chart, it is clear that there is a market for buy-to-let properties. With the University of Glasgow, Strathclyde and Caledonian, as well as Glasgow City College and the Nautical College, there are many areas around said institutions that are packed with students. With student housing all around student areas, you may not get a unique property. With so many students around, and fine transport links it is possible to live almost anywhere in the city and still travel around. Today, we take a look at the most common and also the up-and-coming student areas.
Invest in a Buy-to-Let Student property in Glasgow's West End
Mentioned in a previous property guide on our site, Glasgow’s West End serves Glasgow University and is one of the most in-demand areas of the city. With the area having traditional housing as well as modern flats it represents a fine area to invest in. Partick, Hillhead and Hyndland have renting values over four figures, with the property in the area rising by over £10,000 in the last five years. The mostly detached housing and the area being a hub of student activity ensures that the West End of the city will always be in demand. The area has a long list of fine dining, milk bars, eateries and clubs as well as niche shops. With excellent links to the Subway system and some of the finest architecture in the city by purchasing a property is not only a safe bet, but a sound investment. The average house price is quite high however with the average asking price being £310,000 but an average rent of over £1000.
Buy-to-Let Investment Properties for Students in Cathcart
In 2014, Cathcart was rated one of the most desirable postcodes to live in in Scotland, with the area considered to be one of the safest in the city. Unlike student areas such as the West End, Cathcart does not have a lot of students but appeals to all types of people such as families, students and young graduates. With numerous bus routes, fine transport links and a train station Cathcart represents not only a popular area but an up and coming area in the city. In between areas such as King's Park, Muirend and Newlands, Cathcart represents an area that is close to the city centre to attract students but also appeals to those looking to stay outside the city.The G44 postcode is one of the highest renting rates in the city appealing to all buyers as a shrewd investment.
Student Buy-to-Let Properties in Glasgow's Tollcross
Just at the beginning of the East End, Tollcross has the perfect blend of the city centre with being away from the city. Ideal for students studying in the city centre, or across the Clyde at Glasgow’s Nautical College, the area is one that has been done up as part of the Commonwealth Games, with the Glasgow 2014 offices located near the area. At £159,000 for the average property and a rental value on almost £700 it represents a shrewd invest almost bang in the heart of Glasgow.
Lawrence Hall, of Zoopla.co.uk, who conducted much of the research, said: “The largest number of students or most prestigious university clearly isn’t necessarily best for investment returns.
“Landlords need to do their research and take into account the student demand, property supply, average property values and average monthly rents.”
Contact Our Glasgow Lawyers for Student Buy-to-Let Property Advice & Sales
With Glasgow remaining one of the most popular student destinations and one of the best for a return of investment, buying a property in the city is a clever move and a wise investment. No one knows Glasgow like us and we can help you find the best property for you whatever your needs.Click here to read our property lawyers' guide to the main steps involved in purchasing property in Scotland. To find out more about buying a property or to speak to one of our solicitors, contact us today using our online contact form.