Buying property in Edinburgh: what you need to know

Edinburgh is regularly named a top destination for visitors, thanks to its many attractions. In this year alone, Time Out listed the capital as one of the 50 most beautiful cities in the world, as well as one of top 20 for culture.  

It’s high on the list as a place to live too. Recent research from Mortgage Advice Bureau (MAB)’s MyMAB and Home Buying apps on the most popular UK locations for prospective homebuyers over the last five years, revealed that Edinburgh had secured the top spot in Scotland.

The word has spread way beyond Scotland and the UK more broadly - Rightmove reported in May that Scotland had replaced London as the most popular place in the UK for potential movers from the US to enquire about relocating to – and that Edinburgh topped the list. 

Commenting on the city’s property market, Paul Hilton, ESPC chief executive says: “Edinburgh remains attractive to overseas buyers, particularly from the US, and this trend is expected to continue, keeping demand high across popular neighbourhoods.”

This view is echoed by Leah Bryce of Leah Bryce Property Sourcing, who says: “I have seen a noticeably sharp growth of enquiries from American buyers looking to purchase in Edinburgh and throughout Scotland.

“The capital stands out as a city of timeless elegance, offering a mix of historic charm,

where Georgian architecture meets world-class culture, making it an increasingly

attractive destination for American buyers seeking a prestigious relocation, a

second residence or the setting for their retirement.”

What you need to know

However, for anyone looking to move to Scotland’s capital, there’s a lot they need to know. It’s one thing to visit and fall in love with its charms: it’s quite another to make it your home. 

Edinburgh is a city of significant variety, with each part of town having its own specific ambience, amenities and property types. It takes time to get to know it fully, given that it spreads well beyond the centre (covering an area of 102 square miles, according to the City of Edinburgh council). And depending on how you count them, there are up to around 60 different areas to acquaint yourself with. 

Paul says: “It’s important to take time exploring the city’s many unique neighbourhoods to find an area that suits your lifestyle, whether that’s being close to the centre, near good schools or by green spaces.

“Another important factor to consider is that property prices can differ greatly between areas and by property type. Homes in the city centre may be convenient, but they come at a premium, especially if you’re looking for a larger property with multiple bedrooms.”

It’s important to bear practicalities in mind, emphasises Leah: “If you’re buying in Edinburgh, be aware of additional factors that may influence your decision, such as properties with shared repairs, listed-building restrictions, planning applications, conservation areas, parking-permit requirements and even new bin-hub placements.”

A smooth property search

It’s also important to be well prepared, when it comes to securing your Edinburgh dream home: “The market is highly competitive,” observes Paul: “So, being clear on your budget and prepared for additional costs like land and buildings transaction tax, legal fees and moving expenses is key.

“In Scotland, you must use a solicitor estate agent to purchase a property, so engaging one early will help guide you through the legal process, review the home report and ensure everything runs smoothly from making an offer to completing the sale.

"It’s also worth having a mortgage in principle before making an offer on a property, as it helps you understand exactly how much you can afford and can speed up the buying process once your offer is accepted.”

To be sure it’s the right property for you, make sure you take a really good look at it, says Leah: “View your chosen property at least twice – once to get an overall impression and a second time to examine important details before making an offer.

"Do also remember that, when you have had an offer accepted, it is normal for the purchaser not to be allowed to revisit the property until after the missives are signed. This is another reason to do all important diligence and checks prior to offer.”

In demand

Edinburgh’s desirability as a place to live is reflected in its property prices, but some parts are more affordable than others: “Like most cities, living in the heart of Edinburgh comes at a premium, but expanding your search to the outskirts can offer better value,” says Paul: 

“Areas to the west, such as Gorgie, Dalry and Slateford, are well connected to the city centre while remaining some of the more affordable neighbourhoods at present. Similarly, areas such as Gilmerton and Liberton in the south of the city offer good value for money, with more affordable family homes and easy commutes into the centre.”

Looking ahead, some parts of town are showing signs of being more popular in future: “Leith has seen a remarkable rise in popularity over the past few years, and all signs suggest that this trend is set to continue,” says Paul:

“Polwarth is another neighbourhood on the up, particularly appealing to first-time buyers and young professionals. Just a short walk from the city centre, it offers more affordable property options without sacrificing convenience.”

Summing up this year’s market to date, he concludes: “This year, Edinburgh’s property market has continued to see steady growth in house prices, with many homes still selling above their home-report value.”