Ask most Americans who have visited the UK which cities they spent time in while they were here, and the answer is nearly always: “Only London.”
However, while American travelers may by and large stick to the capital, Americans looking to buy property in the UK are increasingly focusing on one of the UK’s other capitals. A recent article in The Guardian revealed that not only are inquiries from Americans looking to buy property in Britain at an eight-year high, but that Edinburgh was the most sought-after city.
A Move to Stability
So, what’s driving this surge of interest in Edinburgh from people across the pond? One theory is that Edinburgh offers a degree of stability that currently does not exist — at least in the eyes of many Americans — within the United States. Concerns about the economy, as well as the broader political landscape, are prompting some American investors to look beyond domestic to other property markets. The UK is seen, with good reason, to be a more stable environment than other regions.
Range of Property Types Available
Edinburgh’s property market makes it an appealing option for Americans looking to invest and those looking to move. Estate agency Edinburgh inquiries from people from the US have been largely focused on properties that have two bedrooms or fewer, which suggests that the property will be purchased as a second home or on a buy-to-let arrangement. Edinburgh’s range of properties means that there are options for all types of property buyers, from Victorian and Georgian-style flats in the city center to larger properties in Morningside and Murrayfield.
Culture and Outdoor Activities
While some American property-seekers are looking to buy in Edinburgh for investment purposes, it’s also believed that many are looking for permanent moves across the pond. With London property prices beyond the means of most people, Edinburgh’s cultural assets have made it an attractive proposition for Americans wishing to balance a sound investment with a good quality of life.
The city boasts some of Europe’s best cultural festivals and easy access to Scotland’s majestic outdoors, all the while being well-connected to other parts of the UK and beyond. For Americans from the northern part of the US who can handle Edinburgh’s rainfall, it makes a perfect place to move to in Europe.
Other Scottish Areas Are Also Popular
Edinburgh isn’t the only city favored by Americans looking to buy property in the UK. Four other Scottish regions featured in the top ten: Glasgow, Argyll and Bute, Fife, and Highland. What should be behind this wave of Scotland-mania in the US is unclear, but it’s always having an impact on the housing market.
London Remains a Firm Favorite
While Edinburgh may be the most sought-after UK destination for American property buyers, London remains a firm favorite. Six of the top ten areas — and all of England’s representation — came from London, with Westminster, Camden, Islington, Kensington and Chelsea, and Tower Hamlets all leading the way for US house hunters, suggesting that interest in the UK capital is alive and well.
