The Cost of Waiting: Why Glasgow Renters Are Choosing to Buy Now

After a period of adjustment over the last 5-6 years with the fallout from Covid, Cladding issues, the Cost-of-Living Crisis, Interest rates and LEZ affecting the City flatted market buyer demand; compounded by taxation changes for landlords, ADS, the ban on Short Lets within blocks of flats and triple Council Tax for Second Homes, there has been a period of adjustment to say the least.

Here at Rettie Glasgow City, we cover sales for a wide range of property styles and values. Specialising in quality properties across the mid to upper markets, we list properties for sale within the heart of the City Centre and Clyde Riverfront, Dennistoun, and further east to Tollcross, Mount Vernon, Robroyston and Stepps. However this blog is focused on the City Centre, where many sellers were affected by a slower rate of sales with less demand in the last few years affecting sales rate and price growth.

Following the return-to-work mandate from many financial institutions and businesses based in the City Centre and IFSD, we reported last summer 2025 some great statistics about an increase in sales, predominately to purchasers who had previously been renting in the City or Dennistoun and decided to buy, to be near amenities, great culinary options, transport links and of course their place of work.

According to National Statistics, not having a commute in Scotland saves approximately £120–£200 per month, that’s £1,400–£2,400 per year and therefore worth considering your purchase location, and with Glasgow boasting one of the UK’s highest student retention rates, it is no surprise that 40% of our buyers last year chose to give up their rental property and purchase their own home.

Whilst we understand buying a home is not on everyone’s radar or financially feasible right now, we are interested to review the benefits of buying versus renting, where you are fortunate enough to have savings, a sizeable annual bonus or gifted funds from family, having a 5-10% deposit and job security allows buyers to take that leap.

We recently agreed a sale in Speirs Wharf to a lovely couple who had been renting in the development for the last five years, and whilst we know that it costs to live, they have spent over £70,000 in rent alone for a property they can’t make their own.

Example of typical property purchase based on Closing Date Premiums:

Purchase price £310,000

Home Report Value £285,000

Top Up £25,000

Minimum Deposit for 95% mortgage - FTB 5% of HRV £14,250

Mortgage loan to value £270, 250

This would cost around £1,369 monthly* (*based on 30 year mortgage at 5%)

Renting a similar property in the current market is around £1,400 - £1,500 per calendar month

The monthly outgoings are often similar for a mortgage versus monthly rental and if you have the means to afford the deposit, top up premiums and move fees, it is perhaps worth considering.

Our team of certified Mortgage Advisors at Rettie Financial Services can help you review your finances and mortgage options, and the Rettie Glasgow City Sales team can help you find your dream home, we'd love to help.