Student flats fly off the shelves in central Edinburgh

Traditional flats have been let faster and earlier than in previous years with students keen to secure accommodation in Edinburgh’s most popular areas months before the academic year starts.

Leading Edinburgh residential property lettings and management specialists Cullen Property report that more than 75% of their four and five bedroom tenement flats have found new tenants within weeks of being listed. Operations Director Steve Coyle explains: “We started viewings at the beginning of March and, since then, 70 of the 90 flats available have been let until the summer of 2010.

“Students are keen to share good quality, traditional four or five bedroom tenements with their friends and many of our viewings have attracted several dozen potential tenants, showing that there is still a shortage in this particular segment of the lettings market.”

Areas like Marchmont, Bruntsfield and Newington are especially popular with students and the company is constantly looking for additional properties in these parts.

Steve Coyle continues: “Student numbers are set to increase in Edinburgh, which means demand will remain high. For landlords, renting to students offers great stability as they are happy to commit early and for at least 12 months.”

Cullen Property has added several more properties to its books and is expecting to find tenants for most of them by the end of April. The company is exhibiting at the Heriot-Watt University Students Association accommodation fair today (30 March 2009).

Over 65% of all flats managed by Cullen Property are currently occupied by students. Since the company was founded in 1998, Cullen Property has specialised in sourcing properties with optimum rental potential in the student market.