Saturday, February 23, 2013

Growing Asian interest in Scottish property

Feb 22, 2013 -

The Far East has built a relationship with Scotland through salmon and whiskey, but this is now slowly extending to property.

According to UK-based property investment firm Grant Property, buyers from the Far East spend £1 million (S$1.89 million) on average for their Scottish properties. 

While average home prices in the UK have soared to new highs with London being the most expensive averaging £394,000 (S$745,675), Scotland is seen as a more affordable alternative with an average price of £181,000 (S$342,556).

Peter Grant, CEO of Grant Property, is confident that investors would benefit greatly by investing in Scottish properties.

“Years ago everyone was urging wealthy clients to invest in London because it was the financial heart of the UK. A lot has changed in the last ten years. Commerce has grown at lightning speed in places like Aberdeen with its ever expanding oil and gas sector.”

He added that Scotland's universities rank as “the most sought after for places in Europe, and therefore attract high volumes of student's year on year - creating a significant supply of potential tenants”.

“It makes good business sense to put your money into a country that's prospering. In my view Scotland is a very attractive proposition on the global economic map and is the ideal place to invest in property.”

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)

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