A record number of homes sold for more than £1 million in Edinburgh last year, according to Savills.
The real estate firm reported 196 sales in the super-prime price bracket, 35% more than more than the previous high of 145 in 2007 and a rise of 53% compared with 2018. There were 287 £1 million-plus sales across Scotland, just three less than the all-time record of 2007.
There were 15 transactions at £2 million and above in Scotland in 2019, including eight over £3 million. This compares with six at £2 million and above in 2018 when there were none over £3 million. At £3.65 million, Kincairney House in Perthshire was the most expensive Scottish sale last year.
Savills research reveals an increase in the number of Scottish buyers but also those from outside Scotland, including the UK, Australia, Japan and the USA.
Savills research director Faisal Choudhry said: “Edinburgh’s dominance of Scotland’s prime market has grown in recent years, supported by an expanding economy and people moving here from outside Scotland. Price growth in the capital has also pushed many transactions into this price band.
"Despite this, Edinburgh remains relatively affordable compared to other university cities in the UK, with more capacity for price growth underpinned by continuing economic and population expansion, with a surplus of motivated buyers."
