Our Spotlight on Scotland's Prime Residential Property Market reports a much improved outlook, however, uncertainty surrounding the forthcoming Referendum may temper progress. Watch our video below to find out more, featuring exclusive commentary from Faisal Choudhry, Savills Research.
Key findings:
- Prime property is forecast to reach 5% year-on-year growth by 2018, in contrast to a rise in the mainstream market of 2%.
- Demand in the core hotspots of Edinburgh and Glasgow is being driven by younger professionals and recovery is rippling out to commuter locations.
- Non-Scottish buyers made up 34% of the million pound market last year, compared to 26% in 2012.
- Referendum uncertainty around issues like currency, taxation and mortgages could discourage English buyers, a key component of the recovering Scottish market