Property in Scotland

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revbelfast

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Anyone know anything about property in Scotland? Are there particularly good areas? I've been looking at an apartment in Edinburgh but have no idea whether that's an area with good rental yield or not. Any help or info would be much appreciated.
Thanks
 
get local papers, visit the place, look at autcioneers windows and call to rental agents seeking current lists of properties to rent.

you must do your own research and at all costs, must visit the place to get a feel.
 
Revbelfast,
I lived in Edinburgh for 6 years up to August last year. Post a few placenames you have in mind and I'll give you my opinion!
HMC
 
Revbelfast,
The main property website for Edinburgh & Lothians is www.espc.com (Edinburgh Solicitors Property Centre). They also produce a free weekly newspaper on Thursdays. If you are in Edinburgh in the future, they have a premises on George Street, open Mon-Sat. not sure about Sunday.
The system in Scotland is different to Ireland. There aren't estate agents (some would say this is a positive!); solicitors have property departments. This would be a conflict of interest in Ireland but not in Scotland. The buying system is different too - it's sealed bids unless you make an offer before the closing date.
HMC
 
Depends very much on your budget, Rev.
Very cheap properties are still available in parts of Glasgow, and DHSS rentals are usually available. Not a market for everyone, though.

If you're spending a few bob, I think Edinburgh has more of a transient population than Glasgow and would probably give higher yields.

Property is usually sold on an "offers over this price" basis - typically, property would go for maybe 10 to 15% over the asking price.
In slower market times, more sellers will go for fixed price- meet that & it's yours.

Inverness is a booming area too, and may be worth investigating.

Do lots of homework, and remember that in Scotland as much as anywhere....location, location, location.
 
The election results this week, and the gains made by the SNP, should be factored into any long-term strategy for investing in Scotland. The SNP wants to go for independence; if that were to happen there would be an outpouring of capital from Scotland that would create a recession unless it was balanced with major tax incentives etc. As always, good properties in the better locations tend to be immune from the worst of these setbacks (I pity anyone who bought at high prices in Ballyfermot or similar in the last couple of years, should any slowdown happen here). Buy in very good areas and you should be able to weather any storms.
 
Thanks so much for all the replies. I take the point about the SNP and uncertainty over independence. I've been looking at Aberdeen which seems to have increasing prices but good potential yields. Apparently an oil find is keeping it buoyant (plus University).

HMC, I've looked in Edinburgh, too. The only areas I really know are around the city centre: Old Town, New Town, Stockbridge etc. Where beyond city centre is 'desirable'? Someone has suggested Leith to me.

Thanks again!
 
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