|October 4, 2019||No Comments|
Edinburgh, the capital of Scotland, is a thriving student city with four universities. Undergraduate and postgraduate students, 60,500 in total, this constitutes 12% of the city population (513 thousand in 2017). 27.5% of the higher education students in Scotland in 2017 live in Edinburgh.
At the end of 2017 there were only 19,000 purpose-built student bed spaces in Edinburgh. So, where do the remaining 41 thousand students live? The answer is simple: mostly in HMO (Houses of Multiple Occupancy) flats.
Students population is dispersed around Edinburgh, but there are some neighbourhoods more suitable for multiple occupancy student accommodation. The areas must be close to a university and not too far away from the city centre. In our opinion the best areas to invest in HMO in Edinburgh are:
As the Edinburgh Letting Centre is based in Bruntsfield, so we are not entirely impartial about this location. It is a lively area with many shops, cafes, restaurants and pubs. Napier University (Colinton campus) and Edinburgh University are within walking distance, and so is the Old Town with its many attractions.
Proximity to the Meadows and Edinburgh University attracts thousands of students to Marchmont. City centre is a short walk away. Most students living there will not need to use public transport, as everything is within walking distance.
This area is situated further away from the city centre, but the charm if its traditional architecture, abundance of clubs and pubs and the proximity to Napier University are a magnet for a multitude of students.
Proximity to Edinburgh University and Old Town explains the number of student halls and private HMO accommodation in Newington.
As specialists in Houses of Multiple Occupation, we are able to advise on the suitability of a property for an HMO licence. This can be a great way of optimising the potential income in your property investment as well as providing accommodation for the student population.