In this weeks Lettingweb blog posting we ask Miles Gilham from Glenham Property Management what areas of Edinburgh are key areas for HMO property investments.
HMO Properties Edinburgh
Edinburgh has a thriving property market thanks in part to its large financial sector, high number of healthcare workers, large tourist population needed catered for and multiple universities.
In fact Edinburgh property is doing so well it has just been highlighted as having the largest number of house sales in Scotland last year by the Scotsman so there has never been a better time to be a landlord in the capital.
One such property investment that outstrips other property investments by rent yield are HMO properties (house in multiple occupation) which are mainly inhabited by students from the three main Edinburgh universities and educational colleges.
Though students live across the whole of Edinburgh here are the most popular areas, perfect for anyone looking to invest in multiple occupancy properties in the city.
This is the most sought after location for student living in Edinburgh. Overlooking the Meadows, a parkland area with open access throughout the year, Marchmont is famous for its specialist shops, organic grocers and laid back feel. This area is close to both Napier University and Edinburgh University and is only a hop, skip and a jump from the buzz of the city centre.
Often seen as an extension of Marchmont, Bruntsfield too is one of the most sought after areas for students. The community feel and access to a wide variety of pubs, restaurants and shops makes it a nice living area. With the Old Town less than a mile away, and within walking distance, students can easily take in the jumping nightlife.
This is a bit more of an up-market area where students, young professionals and families co-exist. Located in the south of the city, Morningside has a character of its own with its leafy streets and abundant selection of eateries and watering holes. Though not adjacent to the city centre, Edinburgh or Napier University, there is plenty of access to public transport and all can be reached easily.
This is the hub of the city, with easy access to all areas. It sits close to the Meadows, the Union Canal and offers stunning views of the Castle from every angle. Popular with Napier University students, it is only a 5 minute walk from the pubs and clubs of the Cowgate and Grassmarket as well as easy access to Waverly Station. Tollcross is also a mecca for theatre and cinema, with The Royal Lyceum and the art house cinemas of the Cameo and Filmhouse nearby.
Located next to Edinburgh’s old town and close to Edinburgh University, Newington is a popular location for students wanting to experience the nightlife. Famous for its parkland, coffee houses and bars, it is a haven for students, both in Halls and in private accommodation. The area is filled with pubs and restaurants, all catering to student demands.
Fountainbridge is a quieter student area but only 5 minutes walk from the student hub of Tollcross. Housing is directly geared toward student living, though there are few pubs and clubs nearby. Despite this, students can enjoy the cinema, bowling and have access to a local health and fitness centre. If it’s killer nightlife they’re after, the city centre is easily accessible.
With students making up a large percentage of property users in Edinburgh, the need for HMOs remains and opportunities to invest continue to grow. Investing in an HMO in Edinburgh is an excellent addition to any property portfolio, wherever you decide to invest.
If you would like more information about investing in Edinburgh start your research at the investment section on the Glenham website.