Despite broader economic challenges, Scotland’s prime property market remains in robust health – and with good reason
Even when the rains poured towards the end of sun-drenched May, much of Scotland was in its prime. With Robbie Williams scoring with his fans at Murrayfield, to spectacular coastal rounds of golf, to those discovering the North Coast 500 before the queues of campervans and swarms of midges, our nation was doing its best to prove it was a great place to live.
Welcome to Scotland’s Finest, where The Business gets a handle on the best things about enjoying life and living in Scotland.
While we’ve celebrated the work of the entrepreneurs and business folk who work hard, we know that people who deserve their rewards have certain standards and expectations.
By comparison to other nations, Scotland still represents excellent value for money, and home buyers from around the world are increasingly recognising our country as a fantastic destination, with its stunning scenery, rich history, quality produce, and vibrant arts, music and culture.
As a result, Scotland is definitely enjoying a moment in the spotlight internationally.
The upmarket estate agents are seeing inquiries from many international figures who are bucking the London trend and want to put down their roots in Scotland.
Many companies are well connected to this more discerning audience and our intention is to showcase these companies and organisations in Scotland’s Finest in The Business.
Home buying
Let’s kick off with home buying. Scotland’s finest property market, particularly in Edinburgh, continues to show resilience despite broader economic challenges and geopolitical turmoil.
Scotland’s capital has benefited from the decision by international airlines to choose Edinburgh as the favoured destination for a gateway to Scotland after the shutdown of the Covid times.
Glasgow Airport is catching up again, re-instating several links lost during the pandemic. All of this is bringing people to enjoy Scotland. Our country is still a relatively safe place to live and work, although we cannot be complacent when bad actors can attack us digitally from almost anywhere. But many look at the pristine environment of the Highlands and Islands and the vistas of our coastal communities as places where they want to live.
Although the pace of house price growth has moderated, there are no signs of significant value reductions according to the housing experts. Demand remains consistent, and pricing is generally stable, especially within the capital’s established prime central areas.
The upmarket estate agents are seeing inquiries from many international figures who are bucking the London trend and want to put down their roots in Scotland. This is a relatively small number compared to the larger population figures, but these are often people bringing vital skills and liquid capital to invest in the country. And they want a fine place to live too.
Super-prime property
At the super-prime level – generally considered in Scotland to be properties over £3m – the buyer demographic is often made up of homegrown Scottish businesspeople, typically with successful enterprises based in Scotland, as well as internationally-based buyers.
“The international group is rarely unfamiliar with Scotland; they usually have some personal or professional connection to the country,” says Max Mills, Director of Residential Sales of Rettie & Co in Edinburgh.
“Much of the activity in the super-prime level is from Scots who have been working overseas for many years and accumulated wealth, or from those who have married into Scottish families and want a family base here.
“These buyers are looking for not only prime locations but also opportunities to invest meaningfully in refurbishments, often taking a property into the £5m plus range.”
There has been a trend in the last five years where a handful of Scotland’s most valuable homes have been purchased in the £3m to 5m range and then had several million invested into them. In Edinburgh, Glasgow, coastal Fife, rural Perthshire and Ayrshire, and Royal Deeside, west of Aberdeen, there are still sought-after addresses and postcodes.
“We operate in the prime and super-prime parts of the market. Ninety per cent of our £1m-plus sales are in the prime bracket up to £3m. The remaining 10 per cent represents the true super-prime. A defining feature of Scotland’s super-prime market is its discretion. Many of the finest homes are sold off-market, where privacy is paramount and exclusivity is a key part of the experience,” Mills says.
So the majority of super-prime properties are still sold off-market, where Scotland’s finest homes change hands quietly and without fanfare.
“It gives buyers the sense they’re accessing something truly special. That sense of uniqueness is reinforced by the increasing emphasis on luxurious, lifestyle-driven features,” he adds.
Buyers expect more than just square footage and period charm; they want amenities that rival or even surpass five-star hotels.
“The lengths that buyers are now going to for the finest homes in Scotland has gone up a level: home cinemas, gymnasiums, walk-in wine cellars, swimming pools. The best homes now need bells and whistles to justify the price.”
Check out Rettie’s current property for sale on our website here.
Home cinema
Struan Mackenzie, Managing Director of Hi-Fi Corner, which has its demo room in Joppa in Edinburgh, says there is a noticeable uplift in demand for bespoke hi-fi and home cinema systems, especially since the Covid pandemic, with people are investing more in their home entertainment.
More home-makers, many who own collections of vintage vinyl, are integrating audio, including decks, and visual systems that are not just technically advanced but beautifully designed, to complement the architecture and interiors of the space.
“More and more of our clients see premium audio and home cinema not as luxury extras, but as integral to how they live at home. For some, it’s all about seamless, unobtrusive integration; for others, it’s the pursuit of exceptional performance that still complements the overall design of their space,” Mackenzie says.
Beyond home cinemas, it is that view of nature from a cosy snug where you can sip a 12-year-old malt that truly matters.
“There remains, however, one unshakable truth in property: location, location, location always prevails. It’s far easier to justify a premium when other homes in the postcode have done it before. Buyers gain confidence knowing they’re not the only show in town,” says Mills
Rental properties
One more noticeable dynamic in recent years has been the surge in demand for high-end rental properties, particularly large family homes. This is in part due to the high cost of transacting – in terms of LBTT (Land and Buildings Transaction Tax) – leading many to defer purchasing. The controversial LBTT is Scotland is higher than stamp duty in the rest of the UK and can really be considered a handy stealth tax for the Scottish Government.
There are now homes in Edinburgh renting for between £10,000 and £15,000 per month. This trend suggests that while wealth exists in the market, a segment of buyers is choosing flexibility and short-term options until the right opportunity arises.
We’ll be looking more into what makes Scotland a great place to live and work, in the next editions of The Business.
Read more of Scotland’s Finest featured in the Summer 2025 Issue here.
