Scottish property attracting property millionaires

Posted on 21/12/2006 By Carol McDonald Categories: Luxury homes
 
Scotland is attracting millionaires who are buying luxury property in Scotland  at the same time Scottish house builders plan to build for millionaire home buyers.
 
Earlier in the year Donald Trump offered plans for a golf academy and two championship-standard courses on a 1,400-acre site near Aberdeen in the north-eastern part of the country. Donald Trump plans include the construction of 1,000 homes, 36 luxury villas and a 450-bedroom luxury hotel all on the same site. This development is not the only one aimed at the luxury home buyer in the region. Scotland’s Evening Times reports that one of the most exclusive areas on the outskirts of Glasgow is to get its very own millionaire's row. House builder Mactaggart and Mickel hopes to build eight houses with price tags of at least £1million each - complete with swimming pools - in Newton Mearns. The commuter belt on the South Side of the city is already home to a host of footballers, celebrities and wealthy business tycoons.  All the five-bedroom houses in Windsor Park, in Broompark Drive, will feature 11 rooms in total. Five will have full indoor pools, while one will be built with a plunge pool.
 
Millionaires from London buying up Scottish estates
UK estate agency Strutt & Parker says it currently has 71 potential buyers of estates on its books, willing to part with a total of £286m for luxury homes in Scotland. The demand for luxury Scottish property comes from merchant bankers, hedge fund managers and investment specialists who are to share in a £2bn bonus pot earned by City workers after a booming year in the financial markets. Of 12 estates sold by Strutt & Parker this year, half went to City buyers who splashed out more than £10m. Scottish estates that have been recently sold include the Flichity Estate, near Inverness a snip at more than £2.5m,  Culdaremore in Perthshire went for more than £1.3m, Brux, in Aberdeenshire flew out of the window at for more than £1.75m, Westwater in Dumfriesshire for more than £1.25m and Ardpatrick in Argyll for more than £1.4m.
 
 
Scottish average house prices 2006 
Average house prices in Scotland rose by 2.6 per cent in the three months to October 06, taking the average price of a property to £145,593, reports the latest Scottish House Price Monitor by Lloyds TSB Scotland. On an annual basis, Scottish house prices have increased by 11.6 per cent - indeed, prices in Scotland have now been on the rise for an incredible sixty-nine consecutive months. Aberdeen performed best with average house prices increasing by 14.9 per cent in the third quarter and by 15 per cent annually. The average price is £147,866. Dundee was next with a quarterly jump of 11 per cent and an annual rise of 12.2 per cent. The average price is £133,357. Edinburgh, there was a 2.3 per cent drop in the quarter, but over the year prices were up by 10.8 per cent. The average price is £187,546.Glasgow saw a fairly steep fall of 8.8 per cent on a quarterly basis but still managed a 7.8 per cent annual rise. The average price is £147,866.
 
 

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    Carol McDonald

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