A surge in build-to-rent led developments is set to boost city living, as part of the Scottish cities’ agenda to power economic growth.
Glasgow is now in the top five cities outside London for the number of homes in planning, under construction and complete.
Research by the British Property Federation (BPF) shows that the total number of Build-To-Rent homes (BTR) under construction has increased by nearly 40 per cent, with developments outside London being given the greenlight at a faster pace.
In Scotland, a drive to boost city living is behind the development of large scale build to rent projects, particularly in Glasgow, Aberdeen and Dundee.
According to Savills, Scotland has 3,745 BTR homes actively being developed, an increase of 11 per cent in six months, with Glasgow accounting for 2,180. Thousands more homes are in the planning pipeline.
There are now 139,508 build-to- rent homes complete, under construction and in planning across the UK – an increase of 22 per cent over the last year.
David Melhuish, Director of the Scottish Property Federation said, “There is significant potential and investor appetite for BTR to add much needed supply to our housing stock.
“Glasgow is clearly at the forefront of this building boom but there are also significant proposals in both Aberdeen and Dundee as well.”