Scotland’s commercial property sector is on track for a record breaking year
This week, Advantage, experts in Structural Defects Insurance, is once again focusing on how the property market in Scotland is faring in 2019.
As reported by the Scotsman: “Scotland’s commercial property market is on track for a record year of inward investment after international funds made up almost half of all purchase value in the opening six months, according to new data from Savills.”
Savills revealed that £575 million of international capital was invested in Scottish commercial property in the first half of 2019, accounting for 49 per cent of all investment in the period and representing the largest share of inward capital since 2016.
The company forecast a record result for the full year and attributed the bumper figures to a strong economic performance and “more attractive” yields of Scottish property compared to other UK regions.
This positive news comes just months after Advantage wrote about how local communities in Scotland are being given more input in the planning process.
We also wrote a blog back in May about how the Edinburgh property market was at its most buoyant since the credit crunch. Clearly there’s not just one factor that’s boosted Scotland’s property sector – from community involvement, to planning, to house building to inward and international investment – to name but a few, there are a number of different elements driving Scotland’s success in the face of Brexit-related uncertainty.
As reported by the Scotsman, Nick Penny, head of Savills Scotland and investment team director, said:
“2019 is shaping up to be a record year for inward investment into Scotland. Investors are attracted by the strong performance of the economy, record employment and more attractive yields on offer relative to other regional cities in the south east.
“Recent plans set out by the Government to position Scotland as a forward-looking digital nation by embracing 5G have the potential to enhance Scotland’s global competitiveness and continue to drive inward investment.”
We’ll be back soon with more property and construction news. In the meantime, thank you for reading!
Want to learn more? Contact one of our structural defects warranty experts today to discuss your requirements on 0845 900 3969
Recently we have again been focusing on how the property market in Scotland is faring in 2019.
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