Property Industry Urges Scottish Government to Restore Investor Confidence in Scotland

Scottish property market seeks clarity from the government to revive investments in the built environment.The Scottish Property Federation (SPF) gathe...

Scottish property market seeks clarity from the government to revive investments in the built environment.

The Scottish Property Federation (SPF) gathered in Glasgow for their Annual Conference to address key concerns in the industry, such as increasing housing supply and decarbonizing buildings.

One of the main topics of discussion at the conference was the recently published Housing (Scotland) Bill, which raised apprehension among delegates due to its proposed rent controls. These controls could potentially jeopardize over £2.5 billion worth of investment in new rental properties. Experts emphasized the far-reaching consequences of losing investment and job opportunities that the modern Build-to-Rent sector brings to towns and cities.

The lack of clarity in the bill's current draft regarding the future of the rent control system has led many institutional investors to divert their attention away from Scotland for potential investments in purpose-built rental properties.

Maria Francké, chair of the SPF, expressed her concerns by stating, "The uncertainty surrounding rent control policies has had a devastating impact on the future supply of Build-to-Rent housing in Scotland. This doesn't just affect the availability of new rental homes in the private sector but also undermines investor and developer confidence across other sectors."

During the conference, Jonathan Guthrie of Robertson Group was welcomed as the incoming vice-chair of the Scottish Property Federation. Guthrie will assume the position of chair in June 2025, succeeding Stuart Oag from Drum Property Group. Oag will take over as the SPF chair from Ms. Francké in the summer.

The conference provided a platform for various political and industry leaders to address the audience, including Daniel Johnson MSP, Scottish Labour's Business Spokesperson; Paul McLennan MSP, Scottish Housing Minister; Patrick Harvie MSP, Minister for Zero Carbon Buildings, Active Travel, and Tenants' Rights; and Councillor John Alexander, Leader of Dundee City Council. The event also featured a speech from Scotland Office Minister John Lamont MP.

The SPF conference received sponsorship and partnership from Robertson Group, Ocean Terminal, Invest Aberdeen, City of Edinburgh Council, Invest Dundee, and Invest Glasgow.

25 Nis 2024 - 14:44 - News

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