Capital among world’s top five cities for property investment
SCOTLAND’S capital has broken into the world’s top five cities within a global property investment index.
Edinburgh is ranked fourth among the world’s top tier cities for overall investment, behind only Oslo, London and Munich.
The JLL Investment Intensity Index compares the volume of direct real estate investment over a three-year period relative to the city’s current economic size.
It provides a measure of the real estate market, as well as a useful barometer of a city’s overall “health”, highlighting cities that are punching above their weight in terms of attracting investment.
Scotland’s capital also sits in second position globally for cross-border investment. Only London has a higher ranking, with Frankfurt, Munich and Dublin rounding off the top five.
Earlier this year, JLL published figures showing that international investment, as a proportion of total investment, in Edinburgh’s office market rose significantly in 2016, with more than 90 per cent of purchases accounted for by overseas investors, compared to just 50 per cent in 2014.
Elsewhere in the report, Edinburgh takes top spot in the hotels sector and occupies second place in the retail sector and 15th in the offices sector.
Alasdair Humphery, lead director for JLL in Scotland, said: “In recent years, Edinburgh has increased its visibility among the overseas investment community, but to break into the top five is a great boon for the city.”
The news has been welcomed by city councillor Gavin Barrie, who said: “We are currently negotiating with the UK and Scottish Governments on a City Region Deal involving partners in Fife, the Lothians and Scottish Borders. It will focus on an inclusive and sustainable growth model to accelerate this rate of investment.”