The Scottish Referendum

Historic referendum vote will have positive impact for Belvoir and the private rental market in Scotland, says Dorian Gonsalves

Historic referendum vote will have positive impact for Belvoir and the private rental market in Scotland, says Dorian Gonsalves

Dorian Gonsalves, Director of Commercial and Franchising for Belvoir, which has 150+ property management offices across the UK says that the result of the Scottish referendum will have far-reaching repercussions for the company and the rental market.

“We are pleased that the uncertainty of a Scottish referendum has now passed,” says Dorian. “In recent months we have seen anecdotal evidence that English and foreign landlords who own properties in Scotland have been questioning whether or not they would hold on to these properties if the Yes Campaign had been a success. As a landlord with properties in Scotland myself, I can confirm that this is certainly something that had crossed my mind. There were many reasons for this, including the possibility of a different currency, tax rules and complex legal issues.

“The social history of housing in Scotland is very different to that experienced by the rest of the UK, particularly England, but the RICS Scottish Housing Commission recently identified the emerging important of the private rented sector as a key theme for Scotland’s housing future.

“Recent market studies have revealed that rents have risen faster in Scotland in the past 12 months than anywhere else in the UK. If Scottish landlords had decided to sell their properties as a result of a vote for Scottish independence this would have reduced supply at a time when rents are already on the increase. On behalf of tenants in Scotland I am pleased that the supply of rental properties is no longer at risk of being restricted.

“Belvoir has a network of 150+ offices, ten of which are in Scotland, including our very first office, which was launched in Elgin, Moray in 1996. Belvoir has solid connections in Scotland and a core of very successful and experienced franchise owners covering many key territories. Now that the uncertainty over independence has been resolved, Belvoir will continue to pursue exciting plans for further expansion in Scotland.”

“Belvoir has solid connections in Scotland and a core of very successful and experienced franchise owners covering many key territories. Now that the uncertainty over independence has been resolved, Belvoir will continue to pursue exciting plans for further expansion in Scotland.”

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