Student property market thriving in Edinburgh

Around £1m in annual rent has been secured in just one week as a result of last week’s Cullen Property student viewings, with 68 of the 80 available properties already let for the 2010-2011 academic year.

Dozens of students turned up for many of the viewings, with a total of 1800 students viewing 80 three to five bedrooms flats over several days.

Steve Coyle, Operations Director for Cullen Property, says: “We are one of the first companies to market student properties this early in the year and our new student tenants tell us that they are pleased to deal with a company which does so as it means they are able to organise accommodation in plenty of time.

“It has been a very busy week with hundreds of students viewing properties across the city and we are delighted with the results. The student property market is certainly alive and well in Edinburgh.”

Cullen Property has witnessed an ongoing rise in demand for high quality, well presented and conveniently located flats due to a growing Edinburgh student population.

“Edinburgh University Student Association (EUSA) held its accommodation fair last week and encourages its student members to sort out their accommodation early in the year, even though they won’t move in until mid-summer onwards,” adds Steve Coyle.

“With 65,000 students now living in Edinburgh, and a significant expected increase in 2010-2011, there is an increasingly healthy market for student property investment in the city.”

Over 50% 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 quality properties with optimum rental potential in the student market.