Rent Me! Your Guide to Conquering Glasgow’s Rental Market

Glasgow, Scotland’s largest city, holds a rich history that is as fascinating as its lively streets and friendly locals. Situated on the River Clyde in the country’s western Lowlands, Glasgow’s story is one of transformation and resilience, evolving from a small rural settlement to a bustling metropolis known for its culture, innovation, and architectural splendour. You may be wondering if investing in property in Glasgow is worth it. Here is your guide to conquering Glasgow’s rental market. 

Why invest in Glasgow

The city’s roots stretch back to the mediaeval period when it was founded by Saint Mungo in the 6th century. Mungo established a church at the place that would later become Glasgow Cathedral, a site that marked the birth of the city. 

Glasgow grew steadily as a religious centre, and by the 12th century, it was recognised as a significant town. Trade and commerce flourished after the river was made navigable in the 18th century, leading to rapid industrial growth. 

Glasgow soon became the “Second City of the Empire,” a hub for shipbuilding, engineering, and textiles during the Victorian era. The city’s shipyards built some of the finest ships in the world, a testament to its industrial prowess.

However, Glasgow’s history isn’t just about industrial achievement. It is also a city of culture and education. The establishment of the University of Glasgow in 1451 made it a centre of the Scottish Enlightenment during the 18th century. Throughout the years, the city has been a crucible for artists, writers, and thinkers, whose impacts can still be felt in its vibrant music, art, and literary scenes.

Things to do in Glasgow

As a landlord, you need to ensure that you invest in a city that caters to all types of tenants. Glasgow is rich in choice when it comes to entertainment and tourist attractions. Here’s a list of things to do in Glasgow:

• City Centre Mural Trail: a trail of street art by artists such as Ali Wyllie, Art Pistol and Ejek.
• The Hunterian Museum and Art Gallery: Scotland’s oldest museum including a permanent gallery dedicated to the Antonine Wall. 
• Glasgow Botanic Gardens: for nature lovers, there are 50 acres of greenery to explore.

• Pollok Country Park: with as much as 360 acres, this park allows for a quick escape from city life.

• Sharmanka Kinetic Theatre: an interactive toyshop-like venue with toys that come to life.

• Glasgow Music City Tours: a walking tour of Glasgow’s musical heritage. 

Transport and accessibility

Glasgow has everything to offer its residents with regard to transport. From being able to hire OVO bikes, to hopping on the subway, you’ll be able to get from A to B effortlessly. Glasgow’s bus operates on 80 different routes, which is another option for residents who prefer this over bike riding or the subway. 

Regeneration projects

There are currently seven regeneration projects underway in Glasgow, including: 

• The Glasgow City Region City Deal aims to grow a sustainable and inclusive economy within the City Region
• Cowlairs Regeneration which will build 850 new homes – perfect for investment opportunities.
• Housing Regeneration which is the implementation of the aims and objectives of Glasgow’s Housing Strategy 

• Planning Regeneration Areas put in place to plan the overall development concept, including things like infrastructure and present and future land use. 

• River Activation Programme which aims to make the River corridor a more liveable and well-connected place. 

• Stalled Spaces which delivered a range of initiatives like wildlife areas, pop-up gardens and natural play spaces. 

Glasgow’s rental market

According to Rightmove, properties in Glasgow averaged £210,851 last year with sold prices in the city up by 3% compared to the previous year. So, this easily makes Glasgow the most affordable city to invest in property in Scotland. 

On average, properties can take up to eight weeks to sell in Glasgow – which is something to keep in mind when looking at property to invest in. The rental market here is also one of the highest in demand with over 300 people looking to rent for every 100 properties. 

Rental yield

Rental yield in Glasgow sits impressively at 6.73% and according to Savills, Scotland’s market forecast shows a 20.2% increase in value in all mainstream, second-hand properties by 2028. 

The best areas to invest in property in Glasgow

So, you have seen for yourself that investing in Glasgow is a profitable step to take for your property portfolio. But, Glasgow is a big city and you may not know where exactly to invest. Here are the best areas (from the highest rental yield to the lowest) to invest in Glasgow, taking into consideration Glasgow’s rental market. 

City Centre and North

Let’s kick off by looking at the heart of Glasgow – its city centre. The city centre of any big city will always be bustling, so these areas are always great to invest in if you’re looking to cater to students or young professionals. 

So, why should you invest in Glasgow’s city centre? Well, for starters, the average rental yield here sits at 7.63% and you would expect to pay an average of £253,000 for property here. This means that you can expect returns of as much as £1,609 per month. 

East End

Since the Commonwealth Games in 2014, there has been an increase in investment in the East End. The average property price here is £105,409 and you can expect an average rental yield of 7.38%. The area is also well-known for housing young professionals and families alike. 

West End

Next, we’ll take a look at Glasgow’s West End. The average property price here is £139,577 and you can expect a rental yield of 6.46%. This area is especially popular amongst the student population as it sits near the University of Glasgow’s main campus. 

The city centre is easily accessible and just a stone’s throw from the  West End, offering great transport links. 

Southside

Here, you can expect a rental yield of 5.63%, with an average property price of £184,819, making this area of Glasgow a very lucrative area to invest in. 

The Southside of Glasgow is known for its iconic sporting venues, like Goals Glasgow South, and its shipbuilding and marine engineering industries. This means that job opportunities will be abundant here. 

So, which area will you look to invest in Glasgow?

You may also be wondering about where to find the best buy-to-let insurance quotes for your property in Glasgow’s rental market. Feel free to contact us at CIA Landlords on 01788 818 670 for more information.