‘Local interest never seems to come first’ - Edinburgh reacts to Boroughmuir flats being sold to Hong Kong investors before domestic buyers
Evening News readers reckon Edinburgh buyers should get first choice of new apartments at former high school. Here are some of your responses
Unregulated overseas investment is dangerous, not only as it over inflates the market but because it means the people living in the country where the properties are brought can’t get on to the property ladder or can barely afford their rent, let alone save for a deposit. I’m from Australia and have seen the massive issues this causes. I’m sure the majority of new luxury housing in Edinburgh, including the Donaldson and the new/being built West End properties are being sold to overseas investors. No one living in the city could or would pay those prices per square metre, especially with no shared garden included with some of them on Melville Street. Places are being built in traditional commercial areas near the CBD but it’s not permanent residents buying them. The Scottish government go on about being for the people yet don’t put policies into place for the most basic of human rights – housing.
Does this not happen the world over, not just Edinburgh? I don’t see the big deal – the flats are a private development.
The reason that this is done, believe it or not, is that these sales allow the bank to free more money to continue developing the site. It’s the same at Quartermile developments at the old asylum in Morningside. So many flats had to be sold before they would release any more money for the next phase of works. So, by offering it to investment companies with no mortgage ties these sales are quick. In short, aye, blame the developer and the banks.
That’s the council’s idea of affordable housing – let the developer do what they want.
The developers are just following the council’s lead and putting residents last.
They do that in Canada, no wonder the housing market is through the roof.
That is really infuriating. There was a programme about them doing this a while ago. They give them first dibs before any of us even know about it. Shouldn’t be allowed.
So no affordable housing for the homeless?
Why not sell to people who actually live in Scotland?
And will lie empty most of the time.
Valerie Thornton Hunter
That’s global capitalism for ya. Money before people.
Gorgie Road student flats plan is rejected by Edinburgh Council amid calls for affordable housing on the site.
Homes for people who want to downgrade to one or two- beds to release larger homes are desperately needed, but that doesn’t make money for developers. How many one or two bed houses on ground floor only (for elderly and mobility restricted) are being built?
Has to be affordable social housing also. It would be pointless if landlords are allowed to put one-bedroom properties on the rental market for £600 plus pcm.
Yes, after reading the article on flats at Boroughmuir School being sold to international investors before being put on to the open market, I truly despair for young working people ever getting a home of their own. Whatever happened to housing associations? We need to give them more power and money to sort local housing out, surely? Getting a housing association home was a major turning point in my life.
Valerie Thornton Hunter
There’s another 248 towards the 20,000 new council homes target promised without building on the green belt.
There are already student flats in Gorgie and they still have land to build more. I just think that they should be paying council tax.
There must be more student flats in Edinburgh than actual students now.
Don’t worry though, the housing won’t be really affordable, just council standard of affordable.
How about homes for families?
Council homes first.
Hearts chase boss
Hearts approach Daniel Stendel – but face a major stumbling block.
Another manager I’ve only heard of due to him being at Barnsley! Very interesting to see who gets the Hearts job as it seems to be taking a long time! Especially with Harry Potter working on the recruitment side!
Douglas James Horne