Scotland’s second city, Glasgow is a top choice for buy-to-let investors. According to the LendInvest Buy-to-Let Index, locations around Glasgow appear no less than three times on the buy-to-let yield top ten.
With a huge student population, two international airports and a thriving cultural scene, it’s easy to see why Glasgow falls in at number one on this well respected chart.
With ever-rising house prices in Edinburgh, many people have turned to Glasgow in attempts to find more bang for the buck. Glasgow has a strong cultural scene with the infamous Merchant City Festival, the Gallery of Modern Art, and the world-famous Glasgow School of Art. It’s also a green city with over ninety green spaces and parks dotted around. One of the more unique factors about Glasgow is its large single person population – which also impacts on the flourishing rental sector of the city.
As if that wasn’t enough, Glasgow claims to be the UK’s second biggest shopping destination with central, Style Mile featuring the biggest concentration of brands outside of London’s West End.
According to the LendInvest report, Glasgow comes first place with its excellent buy-to-let yield statistics. Coming in at a whopping 8.90% in the G2 postcode is our first location, Blythsworth Hill. In at fourth place is the Ibrox area with 8.50%, and in sixth place, the G21 area with 8.20%. So, a healthy bet for the canny investor.
With a total yield of 8.90%, the Blythswood Hill area of Glasgow is the number one spot for investors. Lying immediately to the west of the city centre, Blythswood Hill has central location. As part of the city’s financial district, there are a lot business premises in the area. However, there is an abundance of very reasonably priced flats on the market, and it is a popular student area thanks to its location near the Glasgow School of Art.
Most common home types in this area are terraces, flats and detached homes making it popular with a wide variety of renters though perhaps at the lower end of the price scale. Home to the mighty Rangers FC, the Ibrox stadium seats upwards of 50,000 people so it can be extremely congested on match days. Well connected by car, Glasgow’s underground system, and by bus, Ibrox is a popular area given it is just ten minutes from the centre, and is undergoing a period of regeneration.
With around 50% of dwellers in this area living in rented accommodation, and low house prices, the Balornock area promises a good return on your investment. Situated to the North East of the city, the area is ripe for regeneration with lots of derelict land. The area also borders the beautiful Springburn Park with Scotland’s second largest rockery – something for everyone’s tastes but maybe especially for the more experienced investor.
Glasgow has a flourishing rental market with a large percentage of the population looking to rent rather than buy. If you’re looking for great value and a high yield, Glasgow tops the charts thanks in part, to its location in commuting distance of Edinburgh. Targeting the lower end of the market and the student sector could be wise choices when it comes to buying to let in Glasgow.