Culture And Affordability Cause Property Values Soar In Edinburgh

Apart from the climate, Edinburgh has a lot going for it and it looks like it’s only going to get better.

By Jeff Vasishta January 9, 2017

It’s not all cold north of the border. No, I don’t mean Canada. I’m taking about Scotland—in particular, its capital Edinburgh. The housing market in some parts of it is hitting pre-recession highs.

In London, the average price of an Edinburgh home—£231,103 (or $283,855)—could hardly buy you a garden shed. However, the price is up 1.9 percent on the previous year, according to U.K. house monitor, the Land Registry. In Edinburgh city center, things get positively balmy where demand is at all time high.

“People are looking predominantly in the city center rather than the suburbs,” Ben Fox director of Savills Edinburgh told the Wall Street Journal. “I think there is a feeling it is a safer place to invest, and people like to be close to work and all the amenities of the city center.”

RelatedCambodia Luxury Condo Boom Shows No Signs Of Slowing

Despite cheaper prices in the suburbs, in some of the most exclusive center districts, a classic Georgian townhouse costs around $2 million plus. The Wall Street Journal mentions a five-bedroom on India Street listed for $2.76 million. A million dollars also buys you a luxury four-bedroom house with a backyard in the same neighborhood.

Despite the relatively affordable prices for a top-notch European cultural city, the Journal reports that 80 percent of the city’s buyers are locals. The rest are coming from England. In light of Scotland’s overwhelming anti-Brexit vote, it now has a particular appeal to many south of the border.

It’s not just politics that attracts the English to Edinburgh. The price makes it a natural draw for people who want to live in a cultural and historic hub without depleting everything they have. Another draw is the fact that Scottish citizens can go to University for free, unlike in England. The city, supported by the Government’s CivTech initiative and Edinburgh University, has become something of a tech center. In 2014 alone the University supported an impressive 44 startups and three spin-outs.

RelatedIndian Real Estate Crashes As Prime Minister Outlaws Cash For Buying And Selling

Edinburgh has also become something of a literary haven. J.K. Rowling lives there and penned most of her Harry Potter novels in the cafes around the city.

The greatest appeal is that Edingburgh is a beautiful, historic city with quick access to the rest of Scotland. If it manages to negotiate an engaged relationship with the rest of Europe, the draw would become even more dramatic.

“There are still a lot of questions over Brexit, but once those things are a little clearer I think there will be a lot of investment in Edinburgh,” Andrew Riddell, associate at Estate Agents told the Journal.

“Companies which find London too expensive will relocate.”

Jeff Vasishta



Jeff is a writer, husband and father but not necessarily in that order. As a music journalist he counts Prince, Beyonce and Quincy Jones amongst those he’s interviewed. He's also owned and flipped homes in Brooklyn, NJ, CT and PA.

    Stefano Boeri, the architect mastermind behind the famous plant-covered skyscrapers, is now designing Forest Cities in Liuzhou, China. #ForestCity #China
    Auction is the second scheduled in a month for a One57 unit and it could set a NYC foreclosure record. #BillionairesRow #Foreclosures
    Once a couch-surfing website, Airbnb moves on to luxury properties, further disrupting hospitality industry. #Airbnb #Luxury
While Other Real Estate Platforms Start Charging Agents $3-Per-Day Exposure Fee, Agorafy Remains Accessible To All
Real Estate searching platform are always finding news ways to diversify their revenues models. Case in point—on Tuesday July 18, Streeteasy, one of New York…
Is Real Estate Crowdfunding The Fix That Urban Housing In America Really Needs?
Saving money for a down payment? One can only hope. Most millennial in their twenties or thirties are mortified that they might never be able…
Brooklyn And Queens’ Real Estate Sub-Markets Continue Their Ascent To The New Heights
So, the sales prices in Brooklyn and Queens hit record highs. Again. Just like they did in December 2016 and at the end of this…
The Economy Of Car Services And Delivery Apps Might Be Making NYC Less Eco-Friendly
Living in an eco-friendly neighborhood is a good thing. And, as it always the case with the good things, it also costs more. High rents…
Building Communities: What The U.S. Developers Should Learn From Soho China
As our world emerges into the new period of globalization and technology, some of the most important by-products of this process are buildings that have…
Five Reasons Why All Entrepreneurs Must Keep Their Eyes On China
It is hard to overestimate the importance of Chinese influence on the modern global economy. Carving out a place in Chinese market and winning over…
Airbnb Up Their Game With A New Luxury Tier Featuring Mansions And Villas
Airbnb is about to seriously up their game. First, the company started testing a new service called Select in an attempt to push accommodation listings…
Will Artificial Intelligence Change Real Estate Industry In The Next Five Years?
Globalization and tech progress are the two forces that are irreversibly changing the world. Robots, machines, artificial intelligence (AI) tools, and, of course, vast amounts…