Property Investment Glasgow: Your Complete 2024 Guide

• Glasgow is the most affordable city in Scotland to buy property.
• The Scottish city faces the second-highest tenant demand in the UK.
• Scotland property prices will grow by a predicted 20.2% by 2028
• Rent has steadily increased by 38.3% over the past nine years
• 34% of Scottish jobs are generated in Glasgow.
• Glasgow is ranked as one of the best UK cities to invest in buy to let property.
• 5th in the UK for Foreign Direct Investment.

We’ve picked out the three most fundamental reasons why Glasgow property investment could be a great idea in 2024.

Let’s start with the big one:

1. Affordable Property Prices

According to Zoopla, the average cost of properties in Glasgow is £228,236, making Glasgow the most affordable city to buy a property in Scotland.

Looking at the latest Land Registry Data, homebuyers will pay nearly £300k less for a detached property in Glasgow than in Edinburgh and £152k less overall.

Glasgow vs Edinburgh Property Prices April 2022

Data from Land Registry 2022

Property prices in Glasgow are some of the fastest-growing in the UK, so now could be the perfect time to invest.

2. Good Rental Yields with High Tenant Demand

Glasgow is one of the best UK cities to invest in 2024, especially for buy to let property.

Buy to let properties in Glasgow will also see impressive rental yields of 6.73% – only 1.44% less than in Edinburgh!

UK cities with the highest rental demand:

Data from Admiral 2022

The Glasgow rental market faces some of the highest tenant demand in the UK, with 302.1 people looking to rent for every 100 available rentals.

Comparatively, Manchester ranked below Glasgow at ninth place on the list (290.5), while Salford ranked as the highest (1061).

3. Business City

With over 855,000 people employed, Glasgow generates 34% of all Scottish jobs and is Scotland’s biggest economy.

Not only that, but Glasgow is:

• One of the fastest-growing technology investment hubs in the UK.
• 5^th in the UK for Foreign Direct Investment.
• ‘Home’ to 28% of Scottish Businesses.
• GVA of over £47bn a year.
• Average salary of £30,000 annually, with an unemployment rate of 4.02%.

Now you know a bit more about property investment in Glasgow, it’s time to start looking at the best areas to invest in Glasgow.

The Scottish city has a lot to offer, so we’ve broken down each key area of the city with its most rewarding postcode so you don’t have to.

City Centre and North

G2:
Average Yield: 7.63%
Average House Price: £253,000
Glasgow City Centre offers a variety of modern and traditional properties at an affordable price tag.

The fashionable Merchant City and Charing Cross are trendy locations for young professionals, while Cowcaddens is popular with students due to its proximity to the university.

G2 is the most rewarding postcode, seeing returns of £1,609 PCM.

West End

G81:
Average Yield: 6.46%
Average House Price: £139,577
Only a stone’s throw away from the University of Glasgow’s main campus, West End experiences high rental demand – especially for student property.

However, the easy access to the city centre, a wealth of green space, and excellent transport links make West End a sought-after location for families.

The highest yields can be found in G81 from an income of £751 PCM.

East End

G34:
Average Yield: 7.38%
Average House Price: £105,409
A recent wave of investment following the 2014 Commonwealth Games has transformed the East End into a hotspot for young professionals and families.

In 2020, East End’s Dennistoun was named the 8th coolest neighbourhood in the world (yes, the world) by TimeOut magazine.

G34 has one of the best yields in the city from a monthly income of £648 PCM, but you may need to act fast if you want a Glasgow buy to let bargain.

Southside

G73:
Average Yield: 5.63%
Average House Price: £184,819
A region known for its industry and iconic sporting venues, the Southside of the River Clyde is a great place for Glasgow investment property.

G73 is the postcode with the highest yields from an income of £867PCM.

Last year, the G73 town of Rutherglen was labelled the best area in Scotland to invest in property by The Sunday Times for its impressive rental yields and growth potential.

With gross rental yields now at 5.63%, the region is still one of the most potentially lucrative areas to invest in.