Edinburgh’s ‘Story’ for International Property Investment
Edinburgh was recently named in the top 3 European Cities in which to invest, according to property experts. While London’s property market overheats due to a lack of supply, and there is rapid re-pricing in recovering markets, such as Spain, investors are looking to mid-size European cities for value. Analysis from property consultancy CBRE has shown that Edinburgh features in a list of European cities where investors can capitalise on growing employment, a stable economy and established office markets.
Why Invest in Edinburgh?
Edinburgh is one of the fastest growing and most productive cities in the UK. Its highly skilled workforce and competitive costs and an unrivalled quality of life make the city very popular with international investors.
- It’s UK’s most educated city. Over 50% of the workforce hold a university degree. UK average is 28.5%
- The city has the second highest Gross Value Added (GVA) per resident (behind London) of all major UK cities. The average is £34,178 per Edinburgh resident
- There’s a population of over 1.5 million people living within the Edinburgh city region
- It’s a leading tourist destination and a very popular city to live in
- It has a growing population. Approximately 500,000 people live in Edinbugh, expecting to rise to over 600,000 by 2035
- The city is home to many international companies and The Financial Times fDi Magazine named Edinburgh as the “Best Mid-Sized European City of the Future” for 2014/15
- A talented workforce – Edinburgh is an extremely desirable city to live in, and as a result a high number of students from the city’s four universities stay after graduation. There are more than 55,000 full and part-time students enrolled at Edinburgh’s four universities: The University of Edinburgh, Edinburgh Napier University, Heriot-Watt University and Queen Margaret University. All four are recognised for their research excellence and ranked among Scotland’s top universities
- The Financial Services sector in Edinburgh is the city’s biggest employer and the city is home to major companies such as RBS, Lloyds, Baillie Gifford, Standard Life, Scottish Widows and Aberdeen Asset Management
- Another important, and rapidly growing, industry in Edinburgh is Technology. Growth within this sector is largely due to the informatics expertise within the city’s universities
- Quality of life – Edinburgh was recently named the best place in the UK to live by Uswitch. Edinburgh’s has the lowest reported crime rate in the UK, cheap petrol and energy bills, high average salaries of £29,588 and disposable household income of £20,083, as well as fast average broadband download speeds of 30Mbs. The uSwitch.com study assessed 138 local areas for 26 different factors including salaries, disposable household income and the cost of essential goods, such as fuel, food and energy bills, as well as lifestyle factors such as working hours, life expectancy and hours of sunshine, to provide a complete picture of the quality of life in each region
- Development – Edinburgh is also to benefit with major developments due to get under way, including Edinburgh’s St James Quarter, Haymarket and Caltongate