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Edinburgh, 17 February 2014 - Leading property consultancy Jones Lang LaSalle expects private renting in Scotland to continue expanding over the next decade, and has earmarked the creation of Private Rented Communities as a viable option for accommodating the increased demand.
Jones Lang LaSalle has released a new report into the sector – Building Private Rented Communities - providing new insights into the asset class that will be the legacy of Build to Let initiatives. It highlights the organisations taking at-scale residential development and investment seriously, noting the range of entry points into the sector that are being considered.
Between 2000 and 2011, Scotland has seen a clear escalation in private renting from circa 6-7% of households in 2000 towards 11-12% in 2011. The reasons for such an expansion are widely known and include house buying affordability and the availability of mortgages. Recent forecasts by Jones Lang LaSalle show that house prices in Scotland are set to continue rising over the next 4 years, which will continue to impact demand for quality rented housing.
Jones Lang LaSalle House Price Forecasts
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