Why a slice of Edinburgh is being bought up by overseas owners
Summary
New data shows that more than a third of properties in Edinburgh’s Quartermile development were bought by people living outside the UK. The area contains luxury apartments and offices, attracting international buyers including many from Hong Kong, Singapore, and Malaysia.Key Facts
- Edinburgh’s Quartermile development has 751 property titles; 263 were purchased by overseas buyers.
- 95 properties were bought by people based in Hong Kong.
- Overseas owners come from 44 countries, including Russia and the Cayman Islands.
- Quartermile is located on the former Royal Infirmary site and includes modern glass towers and historic sandstone buildings.
- The development is popular for its central location near the university and city center.
- Average rents in Edinburgh rose 59% over the past ten years, with Quartermile properties being more expensive than similar ones.
- Overseas buyers include international students, their families, and global investors.
- The trend reflects a broader shift toward high-end properties and markets in Edinburgh’s city center.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.