Ranked as one of the world’s best city’s for investment by JLL in 2017, Edinburgh offers investors the opportunity to extend their portfolio into an already established market in a thriving capital city which still offers excellent potential for growth, with house prices expected to rise by up to 30% in the next four years.
A beautiful city, which retains a wealth of historic architectural features, The Old Town and New Town districts were listed as a UNESCO World Heritage Sites in 1995, and the commitment to retaining the look and feel of the city mean that development is low in comparison with other major cities offering investors true liquidity.
Edinburgh has the strongest economy of any city in the UK outside of London. Consistently the most prosperous part of Scotland, the city has the highest Gross Value Added (GVA) per capita among UK cities, and is second only to London in media gross annual earnings per resident, but with a more affordable lifestyle has the highest average gross disposable income per resident among major UK cities.
With a highly skilled workforce the Scottish capital is knows as a hub for the banking sector with top employers in the city including Royal Bank of Scotland and Lloyds Banking Group, including Scottish Widows.
With four major universities in the city, higher education is also a sector, indeed, the University of Edinburgh is the third largest employer in the city.
In addition to the traditional sectors that drive the region’s economy, it’s also emerging as a leading tech centre, with world leading research taking place in fields as diverse as blockchain, cyber security and robotics.
The second most visited city in the UK, Edinburgh welcomes around 4.26 million visitors each year, contributing £1562 million to the economy in 2016. Thanks to a weakened pound after the Brexit vote, Scottish tourism as a whole saw a 17% increase in 2017 against the previous period.
A city with a wealth of things to do, 7 of the top 10 most visited attractions in Scotland for 2017 are based in Edinburgh.
And of course you cannot talk about Edinburgh tourism without mentioning it’s many festivals – most notably the Edinburgh Fringe, the globally lauded comedy and arts festival which in 2017 attracted 2.7 million attendees, 61% of whom were international travellers.
Property Investment in Edinburgh
Edinburgh offers those wishing to add a secure investment to their property portfolio a wealth of benefits. A proven market, it makes a very attractive alternative to the overheated London market, and predictions of increasing property prices give buyers excellent potential for capital growth.
The booming population combined with a low supply means that average rental returns are extremely attractive, with rents consistently rising rapidly in comparison with the rest of the country, and expected to rise by 23% over the next five years.
It also has a large student demographic, who make up one fifth of the city’s population, with four highly reputable universities in the city which attract both domestic and international students alike.
In summary, Edinburgh is a thriving city with much to offer those looking to invest, or even settle there.