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If you’re wondering how to sell property in Scotland fast in 2017, well, you need to look beyond the UK. Scotland has always been a very insular market, with most of the buyers here being domestic investors, or those from the rest of the UK.
That should change soon, as the Brexit referendum of June 23 has put off a lot of domestic buyers from investing in properties in Scotland, England, Wales and Northern Ireland. But there is still a lot of interest in properties in the UK, and especially in Scotland from overseas investors.
Scotland has become a major attraction for buyers from China, Russia and the Middle East. Wealthy Chinese, Russian and Arab buyers have always wanted to get a piece of Scottish real estate.
After all, Scotland is one of the most beautiful parts of the world, with stunning landscapes, vast mountainous regions, beautiful river valleys and much more. Who can forget the breathtaking visuals from the Mel Gibson film, Braveheart, which was set in Scotland?
Not just non-EU investors, even wealthy Europeans, including cash rich Germans, have been showing a lot of interest in Scotland. Selling to foreign investors is different from selling to domestic buyers. You will need to hire overseas property specialists who are experienced at buying and selling properties in the international property market. That’s absolutely important.
But why are international investors so interested in Scottish properties? It’s not just about the outstanding Scottish landscape. Any property investment in Scotland is guaranteed to get amazing returns. Scotland’s rental market is only next to London when it comes to the rental yield.
Scottish cities like Edinburgh, Glasgow and Aberdeen are among the fastest growing in the UK. They have been the beneficiaries of hundreds of millions in overseas investment.
Consider the housing market in Edinburgh, the capital of Scotland, which has over 500,000 residents. Edinburgh is a very prosperous city, which is thriving right now, having fully recovered from the lows of the 2008 housing crisis.
Even the June 23 referendum in which majority of Britons voted to leave the European Union has had no effect whatsoever on the housing market in Edinburgh. If anything, any dip in home prices has been bought into by foreign investors, who have shown a lot of eagerness to invest in the city.
It’s the same for Glasgow and Aberdeen. They are attracting foreign buyers in the same numbers as they were before the Brexit referendum. Properties are available for a slight discount right now and a lot of overseas property investors are taking advantage of that.
Most of the foreign buyers who have shown such an interest in Scotland come from the United States and Canada, which have a sizeable number of people with Scottish heritage. Buyers from China, Middle East, Germany and other European countries are also becoming increasingly visible.
Certainly, Scotland is on the right track. You shouldn’t find it difficult to sell your property fast in Scotland, as long as you target overseas – not domestic - investors.