Despite facing year of challenges such as inflation and interest rate hikes, the Scottish residential property market has demonstrated resilience, writes DM Hall managing partner John McHugh. He discusses a positive outlook for 2024 with stable conditions, increased cash buyers, and a shift toward urban living.
There could be around 22,000 fewer homes available to rent in Scotland at the start of 2024 than just a year ago, according to a survey by the largest landlord membership body in the country.
Refurbishment work to a well-known Edinburgh city centre building has been completed, making available new space to lease in the capital city as options for high-quality and well located offices remain in short supply.
Following four years of transition, Scotland’s office sector has shifted to a split with some occupiers taking less but higher quality space to accommodate a hybrid work pattern and others making their existing space work better for them with greater cost certainty.
Glasgow-based agency Rosevale Letting has grown its portfolio with the acquisition of several letting properties from competitor Ross Sales & Lettings, which entered liquidation last month.
Knight Property Group has announced that construction is now underway on a prime 0.44-acre plot in Westhill, Aberdeenshire, as the property firm continues its activity in the speculative development landscape across the North East.
A terrace of eight energy-efficient industrial and distribution units with yard accommodation next to Aberdeen Airport has been brought to market for lease or purchase by Clowes Developments, following a major refurbishment programme.
New contemporary business space has been released in Dalmarnock by Red Tree, one of Glasgow’s most established collaborative workspace brands, adding to their locations in Bridgeton and Magenta business park in Rutherglen.
Edinburgh-based property investment group Archibald Marckay Group has successfully secured a £530,000 funding deal from alternative finance lender Reward Finance Group.
Scotland has seen an increase in annual £1 million plus house sales, reaching a new high of 506 transactions in 2023, up from 504 in 2022, according to property firm Rettie.