Despite last year’s introduction of land and buildings transaction tax (LBTT) and the introduction of a 3% second-home tax in April this year, Cullen Property has noticed a sustained demand for quality buy-to-let properties in Edinburgh and in turn, will be promoting the benefits of investing in property in Edinburgh to serious London investors attending the event. The Property Investor & Homebuyer Show is taking place on 15th and 16th April at London’s ExCel, and Cullen Property will be flying the flag for the city for the fifth year running.
Steve Coyle, Operations Director at Cullen Property, says: “We are continuously aiming to meet the high demands of Edinburgh’s rising student population by providing high quality properties to rent. Despite the recent second-home tax changes, there is an increasing interest from investors as there continues to be a high demand from students for quality properties to rent. This second-home tax does not appear to be affecting our serious property investor clients’ intentions. Conversely, Scotland now benefits from certain exemptions from the 3% Supplementary Additional Homes Tax, such as a purchase of six or more properties in a single transaction being exempt, making it potentially more appealing than the rest of the UK.
The Property Investor & Homebuyer Show couldn’t have come at a better time. Edinburgh is a micro climate for property investment and has continued to deliver higher than average rental yields. Whilst some investors may be cooling off purchasing further property right now, high-net-worth investors are likely to continue to invest in Edinburgh’s high quality property stock.”
Mike Doyle, director of Property Investor Media, organisers of the Property Investor & Homebuyer Show, says: “We have noticed a 12% increase on year-on-year growth in visitor numbers, as well as bigger stands being booked this year. We are delighted Cullen Property will be attending and representing not only Edinburgh, but Scotland too.”
