Glasgow Property Investment
Glasgow, Scotland’s largest city, is a melting pot of internationally-acclaimed museums and galleries, stunning architecture and a vibrant nightlife. In addition to the world class education, and thriving retail market, Glasgow makes for a fantastic investment opportunity due to being the best performing UK region, outside of London. Property investment in Glasgow is thriving.
Why invest in Glasgow?
Glasgow has seen £16 billion invested into the city since 2011. The Scottish Enterprise has provided £12.75 million towards Barclays plc new hub at Buchanan Wharf, set to employee 5000 workers. Due to be completed in 2021, Barclays are currently renting 700 desks at Princes House in West Campbell Street.
Additionally, Glasgow’s Harbour area is set to expand due to plans to build a £100m Glasgow Harbour Lifestyle Outlet. Comprising shops, restaurants and a cinema the 74-acre development is due to open in 2021 with the expectation of approximately 2000 new retail jobs.
The £1.13 billion Glasgow City Deal will support the Glasgow strengthen local economy through:
Improved infrastructure. A main aim of the city deal is to deliver an improved transport network across Glasgow and the Clyde Valley, key development and regeneration sites and improved public transport.
Growth in life sciences. Establish Glasgow as home of world class research and development.
Supporting business innovation. Improve the options for start-ups in order for entrepreneurs to see Glasgow as a business hotspot.
Tackle unemployment. Thousands of new jobs and establishment programmes are being created to tackle Scotland’s 3.2% unemployment rate.
Home to five world class universities including Glasgow School of Art and University of Glasgow, Glasgow is home to over 130,000 students from 140 countries. To support the thriving number of students in higher education, Glasgow employees over 5000 across the reputable universities. Glasgow celebrate some of the highest numbers of graduate retention. In 2015, Glasgow had a 46.5% graduation retention rate with Glasgow School of Art boasting 59%.
Glasgow has a population of 596,000. With approximately 90,000 25-34-year olds living in the city, Glasgow has one of the youngest populations in Scotland.
Home to over 15 theatres, the Scottish National Opera and array of sporting stadiums, Glasgow is a beacon of culture. It regularly plays hosts to a number of annual live music and performing arts events, whilst it also hosted the Commonwealth Games as recently as 2014. Additionally, Glasgow’s famous West End, is home with trendy bars, fine restaurants and quirky cafes.
The average price of property in Glasgow was £154,956 compared to £608,853 in London. Not only does the affordability make the property market more accessible for investors, but a strong rental market will help investors to realise strong returns from their initial outlay.
Glasgow currently has an average of 6.76% residential property rental yields.
Glasgow Property Investment