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Generally, Scotland is known to be the country of Unicorns and many unicorn lovers troop there to make a home. The fact that a popular Unicorn statue is situated there also makes it an even more interesting place for all lovers of Unicorn. If you are a unicorn lover and want to have a home in Scotland, Edingburgh precisely since you will be very close to the Unicorn’s Statue in The Meadow Park? This post is for you. Here you will learn all you can about real estate in general in Edinburgh and how you can get the best out of any property, home or lease you will be interested in.
Unicorns in Scotland
Here are a few fun facts about Unicorn in Scotland that might interest you
- The Scots have a special day for the Unicorn which is every April 9.
- The extreme love for the Unicorn started a long time ago as it is said that Scotland’s King James III issued several coins depicting unicorns from 1460-1488.
- Scottish people hold the Unicorn in high esteem because it is the national animal of Scotland.
- The official flag of Scotland has the picture of the Unicorn on it.
- April 9 as the Unicorn national day was first celebrated in the United States in 2015 before it was adopted by Scotland and celebrated till date.
- The Mason’s Pillars in the Meadows, Edinburgh has a Unicorn’s statue right at the top.
Apart from the obvious reason that Edinburg is a great place for unicorn lovers, it is widely known that Edinburgh’s private rental market is arguably the largest in Scotland with over one hundred thousand people living in rented apartments as far back as nearly a decade ago. Additionally, its population has steadily continued to grow and is expected to keep doing so which makes the city one of the most rapidly expanding ones in the UK. For these reasons, it makes a lot of sense should anyone choose to venture into real estate in Edinburgh.
Is 2021 a good time to invest in real estate?
The events that occurred in 2020 were quite unpredictable as was shown by the global pandemic, volatile politics and varying trends in real estate that have all combined to make any investment something to give serious attention.
Notably, investors believe that mortgage rates may remain a little bit high in 2021 and that medicals will most likely be the hottest CRE property this year. Many investors believe that housing prices are likely to remain high throughout the year. This obviously implies that pre-pandemic rates may not return and that housing reforms will likely spur increased rates, particularly in high population density areas.
In summary, experts concur on the fact that 2021 is the perfect year to invest in real estate. However, there is still a certain group of experts who posit that several people will realize that they don’t have to dwell in crowded cities to be gainfully employed since they can enjoy a better life elsewhere. Others, like the first category, believe that despite the travails visited upon humanity by the pandemic, real estate is likely going to bounce back especially since people will now want to go out and shop again, but this time appreciating what a trip outside the house may mean to their mental wellbeing.
In all, the effects of the pandemic on real estate will most likely vary from place to place, and whatever opinion you may hold, there is more pointer to the fact that real estate may thrive in 2021 than you will want to accept.
Is Edinburgh a good place to invest in properties?
Of course, Edinburgh is a good place to invest in properties. Many reasons lend credence to the fact that Edinburgh is a great place to invest in real estate because the city has come a long way in the last few decades. Here are some of the reasons that might interest you as to why it’s the best:
- Edinburgh has steady economic successes and overall prosperity and it continues to do so.
- Its population continues to blossom steadily against all odds. Little wonder that Edinburgh is the second-largest city in the whole of the UK.
- Edinburgh is reputed to have the lowest population of unemployed people in the United Kingdom and about half of the city’s population is between the ages of 16 to 49.
- Edinburgh is widely known to be a centre of excellence in education which has a good representation of both undergraduate and postgraduate students who live in the city, a fact that represents a good opportunity for investors.
- The city also has one of the lowest population densities in some places, though certain major areas have high population densities which makes them suitable for investment in real estate.
- Finally, its booming economy and the pivotal roles played by real estate in the city are a good index that investments in it will be a prosperous venture now and in the long run.
Can foreigners buy properties in Edinburgh?
Yes, anyone can buy property in Edinburgh, including foreigners. And doing this is said to be easier than in most other countries in Europe. However, owning a property does not give you the legal right to live there. To acquire residency, you must have a work visa or permanent living permit through any of marriage or acquisition of the requisite capital to start a business. To do this, just go through the due process, maintain lawful and honourable conduct as well as being a good resident and Edinburgh can become your home for life.
Important things to keep in mind when investing in real estate in Edinburgh
Notable things to consider when investing in Edinburgh, or any place for that matter, include:
- The growth of the city
- Its population density
- Economic status
- The predominant range of ages of the residents
- Employment and unemployment statistics to show which is higher
On all counts, the city of Edinburgh, Scotland, stands tall among others in the UK and fits perfectly with most of the above.
Best tips for getting a property in Edinburgh
Some of the factors to take into consideration before buying a property in Edinburgh include:
- Its large private rental market, especially since the city’s population continues to grow
- Its steadily rising rents
- The continuous demand for rental properties
With the above in mind, here are some tips you should remember when considering a property in Edinburgh:
- Know your budget and see if it fits the best areas you are looking at.
- You do not have to get a property you do not need or which ix not withing your means.
- Prioritise what’s most important to you, renting or buying.
- Get help from the experts there as you do not know have all the knowledge you might need to get things moving.
- If you are taking a mortgage, do all the necessary mortgage calculations, checks, terms and all that to be sure you are not mixing anything up that may not go down well later.
- Go ahead and decide after weighing all the pros/cons and once you know its what’s best for you.
Interesting reason why you need to invest in Edinburgh residential property
Investment in Edinburgh residential properties is highly advisable considering its steady growth rate, a booming economy, relatively active ages of its residents, increasing demands in rental properties and of course, the fact that unicorns “live” there.
What are the best areas to buy properties in Edinburgh?
The best areas to buy properties in Edinburgh, due to reasons ranging from population density, market stability, availability of parks, restaurants, cafes and shops among many other factors, include Newington, Stockbridge, Gorgie/Dalry and Leith.
Expert opinions vary on the expected consequences of the pandemic on real estate investment. Despite these conflicting opinions, there is the belief that investment in real estate is likely to yield more dividends in 2021 than is otherwise predicted by many people.
As someone who loves Unicorns, if you are considering properties, now is the right time and Edinburg is the right place for the reasons shown in this article and more.