Looking for your next buy-to-let property? Well, you cannot go far wrong if you choose Paisley for your next property investment. The town has been named this year as a UK property hotspot by property website Rightmove. Paisley has become one of Scotland’s most desirable places to move to, alongside Stirling, Motherwell, Falkirk, and Glasgow. With asking prices range from around £117,101 in Paisley to £149,538 in Glasgow.
Scotland Offers Fast Rental Returns
But if you are looking to buy, then you need to act quickly as Scotland has one of the fastest moving property markets in Britain with some areas seeing sellers secure offers in just 27 days, compared to the national average of 56 days. In fact, Scotland’s properties offer the fastest return on investment with the annual rent returning the original asking price in just over 17 years. Glasgow holds the quickest return investment at 13 years, followed by Belfast at just over 15 years and Aberdeen at just under 18 years.
Becoming a Buy-to-Let Investor
The UK’s property market has managed to successfully bounce back after it hit financial crisis and this has seen more property investors snap up buy-to-lets in the hope of their values increasing over the next few years. But while house prices have priced would-be landlords from investing in some of the larger cities, there are many areas in Britain that have yet to regain lost ground after the property slump. These offer stronger returns and with mortgage rates at record lows and growing demand for rental properties, it makes it a perfect time to become a buy-to-let investor in a town like Paisley.
Why Invest in Paisley?
Why not? As the Rightmove research shows, Paisley offers lots of promise to potential property investors as an increasing number of people desire to live there. Paisley is steeped in history, while it offers excellent transport links with Glasgow airport just a five-minute drive away. Many families are attracted by Paisley’s friendly community and its great schools. Meanwhile, despite missing out on being awarded the title of UK City of Culture 2021, its bid has given Paisley a considerable boost, raising its profile and securing its reputation across Britain as an upcoming place of culture and interest.
As Scottish towns like Paisley become increasingly popular by renters for their location, charm, and sense of community, the buy-to-let market across Scotland promises potential landlords a great return on their investment.