Foreign interest remains
Real estate sales rebound, but still lower than last year
Koreans investors bought the Leonardo Innovation hub in Edinburgh in September
Commercial property sales across Scotland rebounded in the third quarter (July to September), with the total £1.2 billion value of transactions almost double the previous three months.
Sales continue to be buoyed by overseas investors, attracted by the low value of sterling. However, the rolling 12-month trend is still below 2018.
Edinburgh was the key driver, seeing sales rise more than threefold during Q3 to £462m. A number of high-value deals meant the capital had a 38% share of the Scottish market by value.
Glasgow also continued the positive momentum with £216m transacted in the city during Q3. Its total value increased by £44m on Q2 2019 and £63m against the same period in 2018.
Commercial property sales in Aberdeen remained steady at £32m. Aberdeen’s total value of sales rose slightly on Q2 2019 (by £2m) but remained £20m below values recorded in the same quarter last year.