Buy to Let - Dundee

[Guv10]

Recently visited Dundee for a long weekend, had a look at some properties on right move and was shocked at the price of some flats, some as low 50k. A quick look at rents and flats are anything from 350 to 450 pcm

Anyone have any experience or knowledge of that area. Seems to good to be true?

[NuckyThompson]

A mate had one up there for years, god awful tenants generally and zero interest when trying to sell.

So guessing the area is just full of undesirables if you want to live there and then the same undesirables are your rental options.

[PM3]

I have a pretty good working knowledge of Dundee . Like many bigger cities it has is good areas and its ....BAD ...areas so the answer to the question highly depends on the specific part referred to . TBH for reasons of the past I have always and still have a reasonable regard for the city , but I gotta say rental sector in that city is not for an ( distant ) outsider or someone without solid connections. Low prices have a very solid rson. Good properties in good areas have good prices ( by local standards ) . +ve's at the bottom end , lets say it has a very alive and kicking social services provided population.
It also has ( in the right zone ) a very good student rental pool of customers.

edit. when written, I assumed largely the question was investment related,

[Groat]

Yes it's good, and it's true too.

[MortyC137]

Very location dependent, like most towns. I think Dundee is on the up though, and a good place to get into. I love what they're doing with the waterfront, V&A etc, and there's a bit of a buzz.

However, the rental market is supported by the large student population (2x unis, teaching hospital, colleges.) I'd wait to see what effect covid has on attendance as that could put a downward pressure on rents. There's a lot more dedicated student accommodation than there used to be too, although a lot of it is privately owned. It was a sure thing in terms of income, but not since covid.

Flats within walking distance of the places of study won't be £50k. At least I hope not

[J6542]

I work in houses and flats in Dundee, The properties at that price are nearly all old tenements in rough parts off town. Most are full of damp and falling apart. They really should be knocked down. The west end is decent side of town but the flats will be 3 or 4 times more expensive.

[Condi]

Highest rental yields in the country, or used to be.

Parts of it are a real sthole.

But the numbers of students mean there will always be demand for rentals.