Property buyers and investors from Singapore and Malaysia have contributed to the five-month sell-out of a Scottish student property development.
Clyde House in Glasgow (pictured) is the seventh development that developer Knight Knox International has sold out in partnership with Forshaw Land & Property Group.
Located on the banks of the River Clyde, this development was hugely popular with investors as a result of Glasgow’s booming rental market which saw it acclaimed as “the highest yielding destination for student property” by the property website Zoopla last year.
This rising rental demand is a result of the dire shortage of student housing in the city, which provides just 7,102 university-owned beds for a student population of more than 45,000 students, meaning developments such as Clyde House are needed throughout Glasgow in order to provide a solution to the city’s housing shortage.
The development, which is set to be completed by August 2014, will also provide a communal lounge, gymnasium and a games room.
Other buyers of units at Clyde House include nationals of Azerbaijan, Belgium Lithuania, Switzerland, Jersey and Macau.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
Our editors’ pick of other recent stories you may have missed:
Steep rise in private new home sales in April
Developers could discount to shift unsold units
Reminder to agents: Do not mention HDB valuation in advertising
Singapore ranked 9th for Chinese overseas property buyers
.. and from our lifestyle section.
Five smart things to do with your money
Tree-rific tree houses from around the world
Nine things to consider before buying a HDB flat
If you have a property story you want us to publish email: andrew@propertyguru.com.sg