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Insider UK
National
John Glover

Knight Frank names Edinburgh as a 'future global urban hotspot'

Edinburgh has ranked as the 31st city in the world for people and wealth - and the 8th best for wellbeing.

Knight Frank's latest wealth report suggested that the capital's growing status for innovation and quality of life places it among the world's 'future urban hotspots'.

The commercial property consultancy's annual analysis is was based on scores for wellbeing, innovation and concentration of wealth.

The report found the city to be a growing centre for wealth, with around 30,600 high-net-worth individuals - with $1m or more in assets - and just over 230 ultra-high-net-worth individuals, who have more than $30m.

Luxury house prices in Edinburgh increased 5.8% in 2020, as demand for large family homes increased.

Edinburgh was among the top 25 cities and ahead of most other European capitals, including London (-4.3%), Dublin (-0.7%), Madrid (-4%), and Berlin (+0.9%).

The plus and minus system is based on the increase or decrease of prime residential property prices.

Alasdair Steele, head of Scotland commercial at Knight Frank, said: “The quality of life on offer, its growing reputation as a centre for cutting-edge research, the development of exciting new businesses, and its continued emergence as a thriving European capital.

“In many ways it is unsurprising to see Edinburgh feature so prominently in the report - the themes it touches on are just some of the influences behind Edinburgh’s growing population and attractiveness to young people.”

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