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Overseas interest in Edinburgh property up two-thirds

Posted by: In: Real Estate 28 Mar 2014 Comments: 0 Tags: ,

The number of foreign investors looking for Edinburgh property, including £1m-plus prime homes, has risen 65% in the last year, says Knight Frank, and overall prices are up 4.6% a year

The number of overseas buyers looking for Edinburgh property has risen by almost two-thirds in a year, with non-UK online searchers up 65% annually, says top global agency Knight Frank.

Property prices in the Scottish city have risen 4.6% year-on-year and the looming referendum on independence does not appear to be having an effect.

Demand for prime city homes valued at more than £1million has also been boosted by overseas buyers, first quarter figures reveal. Edinburgh accounted for 59% of all £1-plus Scottish home sales in 2013, says Knight Frank.

City prices rose 1.3% in the first three months of the year, the fourth consecutive quarterly rise, boosted by a 47% annual rise in applicants and a 66% rise in viewings.

Edward Douglas-Home, Knight Frank’s head of Edinburgh City Sales, says, “There is a lack of good quality stock coming to the market, with many vendors cautious about putting their home on the market before the Independence Referendum in September.

“However, our analysis suggests that this caution may be misplaced, with the number of new …read more

Source: OPP



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