Scotland's high-end homes to increase in value by over 20% by 2028 |
Growing demand for Scotland's high-end homes is expected to drive prices up by more than a fifth by 2028, according to leading estate agent Savills. Research reveals that prime properties in Scotland will appreciate faster than London, the Home Counties, and most regions of England and Wales. It discovered a 29% increase in the number of potential buyers registering with the firm in the first three months of this year, compared to the same period in 2023. The number of Scottish second-hand sales above £500,000 during the first three months of 2024 was 16% higher, compared to the same period in 2023, according to Savills. Following a dip last year, the market above £1m outperformed with a 24% rise. Even the market below £500,000, which Savills say is more dependent on mortgage lending, saw a 9% increase, reflecting the improvement in borrowing rates since the summer of 2023. Savills says Scotland's top-end country house market above the £2m mark "remains resilient" with prices 0.7% higher than a year ago and almost 20% higher than in March 2020.
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