Americans are buying real estate in Scotland. They are interested in castles, estates, and houses with golf courses
Interest in Scottish real estate among Americans . Especially popular are castles with a rich history. According to the real estate company Savills, the share of transactions concluded by Americans has grown from 1% in 2019 to 4% today. This growth is due to several key factors.
The change in the pound sterling exchange rate has played an important role in stimulating American interest in Scottish real estate. Last year, the pound fell to a historic low against the US dollar. Despite the currency's recovery, American interest in local real estate remains high.
Edinburgh, with its unique medieval center and rich cultural life, is particularly attractive to buyers from the United States. Many are looking for historic homes or permanent residences in the city. Experts cite the New Town neighborhood as a central point of attraction. This neighborhood is famous for its Georgian-era homes and is located north of Princes Street.
Americans' interest in Scotland is also due to their love of golf. The country is the birthplace of this popular game and is famous for famous courses such as St. Andrews and Gleneagles. Some Americans, already members of well-known golf clubs in Scotland, buy properties here to play golf more regularly.
According to Knight Frank, sales of homes priced above £1 million have not declined since the start of the pandemic. This is helped by Edinburgh's rich mix of urban amenities and accessibility to natural areas such as Holyrood Park and Arthur's Seat.
The average price of a home costing £2 million or more increased by 32.6% between March 2020 and June 2023. However, prices in Edinburgh have fallen slightly recently (down 1.1% year-on-year) due to rising mortgage rates.
One of Scotland's most expensive properties is an eight-bedroom house in Edinburgh with extensive landscaped grounds for sale for £6 million (over $7.5 million).