Relocating to Aberdeen: the lettings market

Aberdeen is the energy capital of Europe, with a growing oil and gas industry that attracts a global workforce. There’s also a burgeoning life sciences industry, with one of the biggest concentrations of scientists outside of Cambridge, two universities – the University of Aberdeen and the Robert Gordon University (which draws up to 60,000 students every year), and the £183million mixed-use Aberdeen Exhibition and Conference Centre (AECC).

In fact, Aberdeen has been ranked as one of the UK’s most competitive cities. 33 of Scotland’s top 100 companies are based in Aberdeen and GVA (gross value added) sits at £17,573m – 15% of the Scottish total.

Inward investment is a sure sign that Aberdeen has a bright future and the £30 million refurbishment of Aberdeen Art Gallery, the regeneration of the St Nicholas House complex and the Mither Kirk Restoration Project will ensure Aberdeen’s City Centre Masterplan lives up to its 20-year projected vision. Improvements are also scheduled for Aberdeen’s International airport, the local road infrastructure and Aberdeen Harbour – where £65 million will enhance one of the UK’s most efficient and busiest ports.

Aberdeen attracts landlords in their droves, with a thriving lettings market catering for energy professionals, students and city workers. It’s a spectacular place to relocate, with the Queen’s Balmoral Estate on the doorstep, top quality social and leisure opportunities, and the Highland Games enthralling locals and visitors every summer.

The city and its suburbs regularly feature in the ‘top ten’ places to invest in the UK, beating London hands down in the returns department. In the Daily Telegraph’s roundup of Best 10 Postcodes for Buy to Let, the Aberdeen postcode of AB23 (Old Aberdeen, Woodside, Tillydrone, Seaton and Bradford), took second spot (out of 2,600 postcodes), with a gross yield of 10.43%. The figures from showed a median monthly rent in AB24 of £1,200. In eighth spot was Aberdeen City Centre, with a median monthly rent of £1,150.

In terms of rents per property type, the best professional rental accommodation falls into two camps. There is a stunning array of large family homes to rent in Aberdeen’s attractive suburbs. Expect to pay in the region of £3,500 to £4,000 for a large semi-detached or detached property with four, five or six bedrooms. Sought-after neighbourhoods include Bielside and Cults in AB15, Blaire in AB12 – especially for low maintenance new build properties – and the West End, AB10.

Relocators without families are spoilt for choice in the city centre, with a wonderful selection of apartments – many of which have been carved out of character houses. There’s also a thriving serviced apartments and short lets industry. Monthly rents of between £1,500 and £2,200 are usual for serviced apartment – many of which include a cleaning service and linen. Rents can also peak in the affluent suburbs around Kingswell Causeway’s Prime Four Business Park, AB15, where many gas, oil and blue-chip companies have a base.

Keir Jones at destination service provider Klippa Relocation says the Aberdeen lettings market is comprehensive but very competitive, making it vital to work with a service provider who understands the nature of the local rental industry: “The workforce in Aberdeen is free-flowing and fast-moving, with different neighbourhoods, enclaves and postcodes all finding favour with different people. Securing the right property at the right price is an expert skill in a city with its own lettings microclimate.”

If you’d like to know more about the destination services offered by Klippa Relocation, contact the new business team at Klippa Relocation today.


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