Edinburgh-based rental agency DJ Alexander reports flats at the city’s Quartermile development are being snapped by parents of overseas students who are happy to pay rent on an empty property well in advance of the university term starting in order to secure accommodation in one of the capital’s most prestigious housing developments.
And while rents elsewhere in the city are around £500-£600 a month, demand for Quartermile has seen monthly rentals reach £800 a month. Proprietor David Alexander has had requests from China, India and parts of the Middle East.
“One lany from Dubai offered to pay £1000 a month – 25 per cent above the going rate – to secure a one-bedroomed flat at Quartermile,” he says. “Unable to obtain a one-bedroomed flat, some have taken a lease on a more expensive two-bedroomed style, even though it will still be occupied by only one person.”
THE HERALD, 15 June 2011