BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: UK: Scotland
Front Page 
World 
UK 
England 
Northern Ireland 
Scotland 
Wales 
UK Politics 
Business 
Sci/Tech 
Health 
Education 
Entertainment 
Talking Point 
In Depth 
AudioVideo 

Thursday, 26 April, 2001, 10:24 GMT 11:24 UK
Capital in world property league
Doorstep
Edinburgh property has seen something of a boom
Edinburgh has been named among the world's most expensive cities in which to buy a house.

Scotland's capital came 15th in a survey of international cities, which was topped by London as the most expensive in the world.

The survey, compiled by New York estate agents Corcoran and Company, looked at the most exclusive addresses in each location.

Top cities
1. London £1.485m
2. San Francisco £1.388m
3. Hong Kong £1.290m
4. New York £1.195m
5. Amsterdam £1.189m
6. Stockholm £1.079m
7. Sydney £0.923m
8. Chicago £0.833m
9. Zurich £0.732m
10. Singapore £0.706m

15. Edinburgh £375,000
16. Dublin IR£357,000
Prices in some parts of Edinburgh have risen by as much as 25% in one year - with one Morningside property selling recently for 123% more than the asking price.

According to the survey, the average price of a prestigious two-bedroom flat in Edinburgh is £375,000.

However, that pales into insignificance when compared with property in London's best neighbourhoods where you would have to fork out £1,485,000.

A booming property market has seen property prices in London rise by 50%, putting it on top of the world league.

The UK capital was followed by San Francisco, Hong Kong, New York and Paris.

Ediburgh Castle
Some Edinburgh addresses have been in demand
A flat in what Corcoran considered London's top neighbourhood - Eaton Square - cost the equivalent of £982 per square foot.

London and Edinburgh were joined in the top 20 by Dublin in 16th place.

The property boom in Edinburgh is most apparent in areas like Morningside, Marchmont and Bruntsfield.

Figures released by Edinburgh Solicitors Property Centre show the average house price for a two-bedroom flat in these areas is £137,048.

That represents a 24% rise in comparison with the first three months of last year.

Last month, Morningside couple David and Josephine Nicholson hit the headlines when their five bedroom home - for which they had hoped to receive £380,000 - sold for £850,000.

Search BBC News Online

Advanced search options
Launch console
BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
PROGRAMMES GUIDE
See also:

04 Oct 00 | Business
House prices edge up
02 Oct 00 | Business
Property prices edge higher
28 Sep 00 | Business
North-south divide confirmed
22 Sep 00 | Business
Concern grows over 'sellers' packs'
05 Sep 00 | Business
Housing market cools
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Scotland stories are at the foot of the page.


E-mail this story to a friend

Links to more Scotland stories