There is no doubt about it – North of Hadrian’s Wall has seen its share of financial struggles in the recent past. Much like a large portion of the world, the recession hit Scotland about as hard as it did London. While London has grown from strength to strength, Scotland is just now getting its footing and the property market is roaring back to life.
There are now houses that can suit all kinds of tastes available for sale. If you want to know where exactly you can buy property for a steal in Scotland, here is a short list that can help guide you.
After 2008, Edinburgh suffered quite a bit with major employers such as HBOS and RBS collapsed. These two banks just so happened to be the main employers to people who would typically buy homes in this region. This led to their being less demand for houses, which in turn, led to their prices falling much further in 2009 and in the years to follow.
Edinburgh should be at the top of every remote property investor’s target considering the fact that it holds almost the same kinds of attractions as London:
- The economy here is very strong.
- It has museums, shops and other tourist attractions of note.
- It has an excellent transport system.
- It has good schools.
And then there is all that wonderful Scottish culture that seems to thrill everyone who visits. As far as the homes are concerned, the prices aren’t back to what they used to be before 2008, but they are getting back up there fast. This is the time to jump in and see your equity grow as the local economy goes from strength to strength.
Just like Edinburgh, Glasgow has begun to see a sharp fall in supply as far as city centre flats and general houses are concerned. As the economy gets better and more people migrate to these cities for employment, buy-to-let opportunities begin to crop up. Remote property investors with this kind of real estate business plan in mind would do well to find properties in Glasgow as they prepare to rent out buy-to-let units.
Go just outside of the major cities
If you go just outside of the major cities such as Edinburgh, you will find locations such as Midlothian, West Lothian, Falkirk District, East Lothian as well as the Scottish Borders which are all worth looking into as an investor. The prices in these regions aren’t quite as high as they are within the cities, but because there is an increasing demand for buy-to-let properties that are close enough to the cities, an investor stands a chance of making good money on their remote investment.
Because Scotland has an excellent transport system and is part of the UK, investment opportunities here can be found far and wide. All you have to do is investigate the various regions mentioned here as well as go a little further into the countryside to find big estate for sale. These could make for amazing retirement homes or even resorts.