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Why you should consider Investing in Residential Property in Dundee
The Waterfront in Dundee hasn’t been the only thing growing at speed recently. Dundee rents have risen an impressive 4% too – ahead of Scotland’s national average – an attractive opportunity for investors.
Recent figures show that average monthly rent for June has increased year on year from £510 to £531. While impressive (Dundee ‘s rent rise is above the country average of 3.1%) the increase is not unprecedented.
Over the past ten years property values in Dundee have increased by an average of 30% as the North East has bucked national trends. Future prices hold promise too.
High demand in popular areas of the city is currently pushing up both purchase and rental prices. In Broughty Ferry prices have risen 41% since 2005. Properties for sale are moving quickly but, for now, Dundee remains the cheapest major city to buy in. It’s behind both Stirling and Perth with an average sale price of £130, 062. If you’re in the market to buy you can view our properties, which change regularly.
It is having it’s own Dubai moment with cranes visible on the skyline and development has already begun to drive prices. In 2018 the current construction of the Waterfront area of the city will be completed. Not only will Dundee be home to the V&A Museum of Design from 2017 around it will be a new railway station, Slessor Gardens as well as new hotel and retail outlets to cater to the expected tourists are under construction adding value to the area. Additionally Dundee has the draw of both Dundee University and Abertay attracting a large and diverse student population from Scotland and beyond.
If you are considering investing in property in Dundee please do get in touch – we can help you at every stage, from finding the right property to finding your tenants.
At Cairn we work with Property Partners – local people who know have expert knowledge of the local area and can source investors the right property. To ensure our investors get the best return we offer free advice and information on the latest market trends and estimates of additional work on any property.
If you would like information from Cairn on investing in Dundee or elsewhere in Scotland you can get in touch with us by e-mail, through our website or on 01382 329016 in Dundee, 0141 270 7878 in Glasgow and 0131 347 2522 in Edinburgh.