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Apartments Selling Fast At Glasgow Site

Posted 27 January 2022 by Keith Osborne

Sales of apartments at North Kelvin are a great example of a very active Scottish property market, says Savills...

Estate agency Savills is seeing the new build markets in Scotland’s largest cities experiencing very high levels of growth, with a new build development in Glasgow being a great example of the national picture.

Last year, transaction levels in the city hubs of Edinburgh and Glasgow rose more than 16% above the pre-pandemic level. This trend is set to continue in 2022. Faisal Choudhry, head of residential research for Savills in Scotland said: “Looking ahead, as people return to work in towns and cities we will see increased demand for homes in 20-minute neighbourhoods, ie where daily necessities, such as work, shopping, entertainment, schools and recreation are all within a 20-minute walk or cycle from a home.”

Pamela Aitken of Savills new homes team said city apartments are back in demand generally and the ‘fixed price’ element of buying a new build home in Scotland is appealing, especially to those young buyers who have missed out in bidding wars for second-hand properties. Energy efficiency is another factor tempting these younger buyers as modern properties tend to be designed with energy performance in mind, so they can expect to pay less for heating bills while reducing their impact on the environment.

She said: “North Kelvin, a development of 85 homes in Glasgow’s West End, is a case in point. On the run up to Christmas we moved in 17 new owners to the final phase of this brilliant development. The pace shows no sign of slowing: we only have nine apartments left, which are all ready to move in to.”

With a fixed price of only £219,995 these high-spec two-bedroom apartments, some with private gardens and all with allocated parking, represent value for money in Glasgow’s competitive city market. Buyers include young professionals and downsizers who want to live close to the buzz of Glasgow’s West End, as well as students at the university being supported by the bank of Mum and Dad.

“This mix of buyers is creating a lovely community which ticks all the boxes”, added Aitken. “North Kelvin is so close to the cosmopolitan West End, whilst the Kelvin Walkway at the foot of the road, links with the beautiful Botanic Gardens so it’s also absolutely ideal for leafy walks and canalside cycling.”

The North Kelvin development is the latest architecturally significant heritage development by family-run Spectrum. Previous projects in the city include Hillhead High School in Cecil Street, Hydepark Public School in Springburn, Shettleston Public Baths and Burrell House on Great Western Terrace, home of the former art collector and city benefactor William Burrell.

Find out more at www.savills.co.uk.

 

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