Scottish Landlords Incur Losses

Experts are confirmed that the current drop in rent is determined by supersaturation of the buy-to-let market in most areas of Scotland.  Demand is in times less than supply. As a consequent residential rental rates keep going down and property for rent stays vacant for longer periods. For example, landlords have to spend two times more time to find a successful tenant for one and two bedroom flats. Even in Glasgow in 2008 it was 33% easier and less time-consuming to find a tenant than it is now. Experts expect a further drop of the rent rates, which is to be even more significant during the year. We are left to stay patient and wait for the future changes. In Glasgow, rents have fallen only gently and the decrease comes to about 0.7 percent. In Aberdeen, residential rental rates remained practically at the same level. Nationally, rents in Scotland fell gradually; on average, tenants were paying 1.1 percent less than in the previous year, but in Edinburgh the situation seems to be worrying. A drop in residential rental amounted to 2.6 percent. According to an on-line resource, the average rental property rate in Scotland now constitutes £638, while in the capital city the housing price is estimated at £732. For the first time since the statistics was compiled one and two bedroom flats experience a decline. This downfall makes this decline in rental values more than odd.