Recent Edinburgh Developments, Scottish Property Market, Buildings
Recent Developments in Edinburgh
Lothian Property Market Article
23 May 2019
Recent Developments in Edinburgh
The property market in Edinburgh has been going through some serious developments lately, and some of them might have strong, lasting implications in the future. Most of what’s happened recently has been quite positive in general, and things are looking up for investors and residents alike. Let’s see what’s been going down in the area recently.
New Multimillion Development Approved
The site of the Hunter’s Tryst Primary School will be reused in a sensible manner, as it’s been confirmed that approval was just given for a new multi-million construction project in the area. The project will culminate with the construction of 85 new homes, reviving the area after it was struck by disaster many years ago. Local residents are reportedly happy with the idea. There has been some discussion over what exactly the space should be used for, but it looks like this proposal has the biggest potential to impact the lives of locals in a positive manner.
Improving Conditions for Students
Conditions for students and others looking for a low-cost lifestyle have also been improving. The area is now quite welcoming to people of all walks of life, and the situation with student accommodation in Edinburgh is actually among the top in the region. Some places such as the Collegiate student accommodation in Edinburgh offer specific services for students and are designed for their unique needs – you can learn more about these apartments here. Services like Collegiate have been a major drawing factor for the influx of students in the area, and it’s easy to see why considering the attractive combination between quality living conditions and low prices that they provide.
Sale of the Ruthland Buildings
A large sale was recently completed as well, with the Rutland Buildings going to the Topland Group. The final price was reportedly negotiated to a little under £16 million, and so far, it’s not clear if the company plans to make any changes to the area and the living conditions that it provides. A spokesperson for the new owners has stated that the company has been motivated by what they see as an unrealised potential in the area. According to them, there has been a strong interest in commercial property rental in Edinburgh, while at the same time very little development has been done to satisfy the demand.
Concerns Over Rising Prices
Some have recently expressed concerns that the situation in the region might be moving towards unsustainable levels due to some of the developments we’ve seen recently. Edinburgh was pointed out as an example of a place with extremely high rental prices, and this is a trend that has been evolving for a while now. It’s not easy to tell if this is something that has reached its peak, or if we’re about to see prices keep going up.
Still, the outlook for most has been highly positive, as it’s becoming more and more obvious that Edinburgh is attracting the right kind of attention, both in terms of investors as well as residents. Hopefully, these kinds of changes are going to continue in the future, as this is one of the places with the best potential to sustain this type of development in the long run.
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