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Steeped in unique traditions and culture, Scotland is beloved across the globe. Known for the beautiful landscapes across the country as well as its remarkable architecture and history, it welcomes around 150 million visitors per year. The country’s famous highlands cover an area of 10,000 sq miles and host the highest mountains in the UK as well as the legendary Loch Ness, which holds more freshwater than all lakes in England and Wales combined. Being part of the wider UK, the governance of Scotland is heavily involved with decisions on healthcare, education and new laws all being decided within the Scottish Parliament Building in Holyrood, Edinburgh. Scotland has long been famed for its resilience in the face of adversity and this reputation extends to its economy. In the past two decades, Scotland has shown positive GDP growth, mimicking the trend of the Greater UK.
Since 2000, Scotland’s population has grown by 8.3% up to 2021 when it stood at 5,482,950. Scotland’s overall population growth is expected to reach about 5,518,250 residents by 2035, a 0.6% increase since 2021.
House prices in Edinburgh have increased by an impressive 7.5% per annum over the past 5 years. House prices in the region are forecast to rise by a further 17.6% up to 2027.
In 2022, Scotland’s GDP is estimated to stand at GBP 156.46 billion. It is forecast to reach GBP 178.93 billion (+14.4%) by 2032.
As the capital of Scotland, Edinburgh has become a bustling business, education and tourism hub that attracts talent, students and visitors from across the world. Edinburgh sits just 332 miles north of London accessible within 1 hour and 20 minutes by air, or in under 4 and a half hours by train.
Celebrated as one of the most beautiful cities in the world, Edinburgh’s distinctive sandstone architecture, green open spaces and lengthy history has earned the city UNESCO World Heritage status. The city’s charming New Town area covers over 450 hectares and is characterised by vast Georgian terraces dating back to 1767. Unsurprisingly, Edinburgh is regularly voted one of the world’s best cities to live in.
As a major capital city, Edinburgh benefits from continued investment and confidence from some of the largest and fastest-growing companies in the world, such as Amazon, Microsoft and IBM.
Download investment caseAs Scotland’s largest city, Glasgow is a leading destination for economic output. With an estimated GDP of GBP 23.66 billion in 2022, Glasgow produces approximately 14% of all Scottish output and is home to 28% of all Scottish companies providing a third of the country’s jobs. Glasgow is the number one UK Core City for producing the highest number of Financial and Business Services graduates, many of which choose to remain in the city, bolstering Glasgow’s growing financial sector.
Glasgow is not only an academic and cultural hub in Scot land but also the economic powerhouse of the country. Explore the 8 reasons we' re investing in this buzzing metropolis below:
Continue ReadingThe best places to capitalise in the property market are where there is a strong rental demand. In Glasgow and Edinburgh both, these areas are where there is a high density of student accommodation. Both Glasgow and Edinburgh are world-class university cities and have high graduate retention rates. Many graduates choose to remain in the same areas, creating pockets of renters who start their careers in their university city.
In Glasgow, the main student areas are closest to the University of Glasgow where there are ample amenities for the young population. The most popular area, within close proximity of the University, is Hillhead. With great transport connections and a bustling centre along Byres Road, the area promises to be a lucrative choice for investors looking to tap into the high rental demand.
In the Scottish capital, Edinburgh, the city centre proves to be the top choice, even with the higher price range. Areas such as Fountainbridge and Haymarket are popular choices for students and young professionals - each location providing plenty of local options for entertainment outside the city centre.
Our experts at IP Global analyse the markets and the rental demand to create cases to support which areas are the ideal places for our clients to invest. To tap into our insights of the property market in Scotland, get in touch for a free consultation.
Whilst Glasgow is considered one of the more affordable cities in the UK in terms of property prices and rents, Edinburgh which is more established offers a strong case for investment due to different economic fundamentals. For a worthy comparison think of Glasgow as the Manchester of Scotland, whilst Edinburgh would be the London.
Scotland presents one of the best returns on investment in the UK for buy-to-let investors due to the high average rental yields. An average percentage of rental yields falls around 8%, a dramatic difference from the average rental yields in London which sit on average at 5%.
However, it’s not recommended to make a decision based on average rental yields as they don’t reflect the differences between rents for high-end properties in the prime market and more affordable properties in the mainstream market. For a better understanding of what yields you can expect from your choice of investment, we offer free consultations with our experts.
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