When it comes to investing, more and more people who can afford to, are looking towards buy-to-let investments. With savings interest rates still woefully low, and stock market volatility, investing in rental properties has never looked more lucrative. However, as with all property purchases, location is key. Or is it?
Throughout the year, various newspapers and websites forecast the best postcodes for rental returns and Glasgow has been noted in recent years by the likes of The Telegraph as one of the locations through the UK offering the best returns in rental yields. However, many experts often only tout the West End of Glasgow as the place to invest. Whilst there are good yield returns to be had in the West End, Clyde Property Letting Director, Fiona Hindshaw, reckons there are several other good areas in and around Glasgow that offer investors strong, consistent annual yields on their buy-to-let properties.
For instance, this period one bedroom flat in Shawlands on Glasgow’s Southside is on the market for just £108,000 and is valued at £115,000 in its Home Report. Situated in Waverley Gardens, this charming apartment can fetch a rental income of up to £625 per month. This Southside flat offers an attractive yield of 6.94% and can be viewed here.
Another example which offers a great rental yield is this one bedroom flat in Stirling which, on the market at offers in excess of £98,000, can be rented out for £600 per month, resulting in an impressive 7% rental yield. For more details click here
The rental market outside of the West End of Glasgow can get even more lucrative if an investor is willing to look a bit further East, and in this instance as far as Motherwell. On the market for offers over £79,995 is this modern red-brick terrace which is an ideal investment as a buy-to-let. With a rental potential of £550 per month, this property can offer an investor a very lucrative yield of 12.2%. Follow this link to view the property and contact our Hamilton office for more details.
Another important tip for investors is that time is of the essence for making key tax savings if investing in buy-to-let properties this year. Come April 1st of this year, any additional property purchased, such as a buy-to-let, costing more than £40,000 will be subject to an extra 3% tax on the purchase price. Please read our posts on tax changes for buy to let investors here and here or watch our local market trends videos on Clyde.TV.
So if you are thinking of investing, the properties above highlight that there are opportunities for impressive yields all over Scotland and that the time to invest is now to avoid the new 3% taxation which will be enforced come April.
Why not speak to Clyde Property today about how to make the most out of your buy-to-let investments.