The average house price in Scotland has increased since 2015, with minor fluctuations over time. The house price index is calculated using data on housing transactions and measures the development of house prices, with 2015 chosen as a base year when the index value was set to 100. In June 2024, the index reached 142.6, suggesting a house price growth of 4.3 percent since June 2023 and nearly 43 percent since 2015. Among the different regions in the UK, West and East Midlands experienced the strongest growth.

Ann Street, Edinburgh EH4 was the most expensive street for residential real estate in Scotland. The average price of a property there was over 1.68 million British pounds, accounting for the average transactions that occurred between January 2018 and September 2023. The second most prestigious address in the world for a particular popular sport, Golf Place, St Andrews, was valued at 1.61 million British pounds. Wester Coates Avenue made up the third in the list, with properties averaging over 1.5 million British pounds.

Average second-hand sale prices for prime properties in selected high-performing towns and cities vary greatly across the United Kingdom (UK). The city of Edinburgh had the lowest average second-hand price of 299,866 British pounds while Beaconsfield and Virginia Water reported the highest prices above 1,100,000 British pounds.

It can be seen that prime properties in Scotland had second-hand sale prices below 400,000 British pounds while in the other regions of the UK, the average prices ranged between 500,000 and 750,000 British pounds with the exception of Beaconsfield and Virginia Water.

This statistic presents the leading British cities ranked by the average price of office rentals as of 2016. In that year, the most attractive business proposition in terms of average office real estate rental rates was presented by Edinburgh, with office space costing just over 66 British pounds per square foot on average.

Humbie and Gullane in East Lothian, were two of the most expensive towns for residential property in Scotland as of February 2022. The average house price in both towns was estimated at over 500,000 British pounds. In comparison, the average house price in Scotland was almost three times lower.

Which are the most expensive streets to live in Scotland? With the average house price valued at approximately 3.6 million British pounds, Whitehouse terrace, Edinburgh EH9 was the most expensive street for residential real estate in Scotland in 2022. This was almost twice higher than in the second priciest street, Caledonian crescent Auchterarder PH3.

Compared to other regions in the UK, Scotland is affordable Though 3.6 million British pounds is an impressive figure, not all housing in Scotland falls in this price bracket. In fact, with an average house price of about 170,000 British pounds, Scotland is the third most affordable region for first-time home buyers. Furthermore, it has the second lowest rent to income ratio in the UK.

The prime rent for office real estate in Edinburgh, Scotland, increased from 2015 to 2019. It can be seen that between 2015 and 2019, the average cost of prime rent increased by 72 euros, to a total of 438 euros per square meter per year as of the end of 2019. This was also the highest prime rent per square meter per year recorded in this time period.

This Statistic shows the average cost of grade A and grade B office rents in Scotland (United Kingdom) per square foot in 2019. The most expensive area to rent Grade A office space in Scotland was seen in the capital, Edinburgh, with an average of 35 British pounds per square foot. Even Grade B property in Edinburgh was more expensive on average that prime real estate in Glasgow's out of town area.

Retail warehouses typically range from fifty thousand to hundreds of thousands of square feet. They are used for keeping and distributing inventory. Retail warehouses include loading docks, truck doors and large parking lots; also, they may contain a limited amount of office space. Prime retail warehouse properties belong to the wider category of industrial property, along with other real estate types, such as: distribution buildings, showroom facilities, manufacturing buildings, cold storage facilities, telecom or data hosting centers, "flex" buildings denoting more than one industrial or commercial facilities housed in the same building, and finally R&D buildings.

West/East price differences

In the third quarter of 2018, figures show that approximately 364 euros were paid per square meter per year for prime warehousing properties on the Edinburgh commercial real estate market. This was a decrease, compared to the earlier data (according to the same source), which calculated the rentals to be 419 euros per square meter per year in the 1st quarter of 2016. In other leading Western European cities in 2018, the cost for warehouse square meter per year was significantly lower: in Paris it amounted to 180 euros, and in Bucharest, to approximately 120 euros.

large warehousing rents and yields

The average price of large prime warehouses that are not specific to retail can be far less expensive per square meter per year, especially in the east of Europe. In terms of yields, Eastern Europe saw prime yields higher than their counterparts in the west with Moscow (11 percent), Athens (9.5 percent) and Belgrade (9.25 percent) all approaching the ten percent mark. German cities in general saw relatively low prime yields with Munich, Hamburg, Berlin, and Frankfurt all amounting to 4.05 percent.

For far more in-depth information on industrial and logistic warehousing in the United Kingdom please see our report.