Glasgow’s most Expensive Streets and Buildings 2023, guide, Property interior, Architectural advice
Glasgow’s most Expensive Streets 2023
20 Mar 2023
Glasgow is a city that’s on the up. The construction boom that’s swept the city over the past few years has seen the skyline completely transformed in places, with a host of new facilities being established along the banks of the Clyde.
There’s been a slowdown in the housing market, in Scotland and elsewhere in the UK, thanks to the effects of inflation, and higher interest rates. This has made it more difficult for would-be homeowners to get onto the housing ladder, and pushed many into the booming rental sector. In Glasgow, there still exist large tracts of inner city land that are ripe for development. For certain regions of the city, on the other hand, there’s a huge amount of value locked up in property.
But on the other hand, for homeowners looking to access cash during this period, you might look at using an equity release mortgage calculator to determine just how much might be locked up in your property. If you’re going to do it, it makes sense to do it before the value of your home declines!
What’s the most expensive street?
Elphinstone Road is among the city’s more expensive streets. Properties here regularly sell for seven-figure sums. There are two golf clubs on either side, namely the Whitecraigs Golf Club and the Cathcart Castle Golf Club. Also worth mentioning are Methven Road and Ellergreen Road, both of which see properties change hands for millions.
Most expensive building
The most expensive single building in the city might be found in Buchanan Wharf, where Drum Property Group is developing the most expensive private project in the history of Scottish construction. The site will be home to more than three hundred apartments. When you consider the site’s history as an offensive inner-city wasteland, it’s an impressive example of the direction of travel when it comes to Glasweigian development.
Another notable project is the Candleriggs Square Project, which will include a 500-room hotel. Then there’s the Sighthill regeneration project, which will include more than a thousand new homes.
Property market outlook
The growth in the Scottish housing market has slowed, thanks to rising interest rates. When there’s less money available with which to buy a house, property sellers must decrease their asking prices in order to secure a sale. This has the effect of pushing down prices for everyone.
So, in theory and practice, house prices will come down – or at least, they won’t increase at quite the same rate that they did before. That said, the pattern isn’t uniform. Some areas of the city are performing much better than others when it comes to retaining the value of the property in them. If you’re planning a purchase or sale, therefore, it pays to do your research.
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image courtesy of architects practice
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