Australian landlords top the table

by Property118.com News Team

8:51 AM, 30th July 2019
About 2 years ago

Australian landlords top the table

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Australian landlords top the table

SafeDeposits Scotland, which protects more than 60% of all Scottish tenancy deposits, has revealed where owners of Scottish residential property using the scheme are based. Consulting its own, substantial database, SafeDeposits Scotland has created a top 10 list and found that overseas landlords come from far and wide.

Australia tops the table by a considerable distance with 528 landlords of Scottish properties living there. The USA is second with 358 landlords.

Ireland was the most popular European country of residence for overseas Scottish property owners with 223 calling it home. Other EU countries on the list include; France (182), Spain (161) and Germany (113). The Middle and Far East were represented in the top 10 by the United Arab Emirates (187) and Hong Kong (108) respectively.

Separately to those based overseas, in the rest of the UK, England boasts the most landlords of Scottish property with 7,279, followed by Northern Ireland with 579 and Wales with 192.

Ian Potter, Chair of SafeDeposits Scotland, said: “Scottish commercial property has become increasingly popular with overseas investors (Knight Frank reported a £40m growth between 2014 and 2018[1]), but information on those buying and renting private residential property has been less well documented. Alongside overseas investors will be Scots who have moved abroad – temporarily or permanently – and decided to retain property in Scotland.

“Our figures demonstrate that landlords of Scottish property live all over the world. The landlords that we know about are already aware of their obligations to protect tenancy deposits, but there may be others out there that are unfamiliar with the Scottish system.

“Landlords who fail to protect their tenant’s deposit run the risk of a penalty up to the value of three times the value of the deposit should the tenant take them to the First-tier Tribunal for Scotland (Housing and Property Chamber).”

Overseas landlords of Scottish residential property
Rank Country No. Landlords
1 Australia 528
2 USA 358
3 Ireland 223
4 United Arab Emirates 187
5 France 182
6 Spain 161
7 Canada 126
8 Germany 113
9 New Zealand 109
10 Hong Kong 108

 

rUK landlords of Scottish residential property
Rank Country No. Landlords
1 England 7,279
2 Northern Ireland 579
3 Wales 192

 

[1] published March 2019

 

Comments

Beaver

12:05 PM, 30th July 2019
About 2 years ago

Given the number of Brits including Scots who head off to sunnier climates like Oz, Spain, or Florida, the numbers don't really surprise me apart from Ireland. I wonder to what extent Ireland's tax rate influences landlords to choose Ireland as their location.


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