September 11, 2009

Scottish Buy to Let Booming

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Some parts of the UK are still really struggling through the housing downturn, but that's not the case in Scotland – it seems as though it has become the place to cash in on buy-to-let profits.

One Scottish property expert has found that buyers and search agents acting on their behalf are experiencing a shortage of property in the marketplace – as a result, there will be more people looking to rent in Scotland as they are unable to secure their own property.

Saints Property says hopeful buyers include expats wishing to return to Scotland, buyers looking for second homes, development projects and professionals requiring a family home in Edinburgh – the property expert says it has a list of ready-to-purchase cash buyers with a total spending power of £12m for properties in Edinburgh alone, and £87m in rural areas.

Matthew Sinclair, director of Saints Property says: “Currently demand outstrips open market supply, making it harder for buyers to find the property they want. This is for a number of reasons – sellers are holding back for more favourable conditions before marketing their property, properties are being marketed at prices not reflective of the current market conditions, the effect of the home report, plus buyers are not aware of ‘off-market’ opportunities.”

This sort of news is always good for buy-to-let investors. If people are scrambling for homes then they will have to rent. So if you have a rental property, it's you they will go to until they can buy, even in the short term.

During this downturn, buy-to-let investors have to do all that they can to make sure that their property is not empty. That means reading the market, having the right advice and having the right finance on your rental home. Talk to a buy-to-let professional to make sure that you are in the right position to cash in while demand outstrips supply, in whatever part of the UK you live in.

SOURCE: Saint Property, 01/09/09

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