£2.54 Billion positive figure for Scotland’s Property Market
Colliers International, commercial property specialists, have released the news of a £2.54 billion growth to Scotland’s property market for 2018. Reported in a recent article on the Insider website, Colliers International state that current figures are well above the 10 year average of £1.9 billion and that the biggest office deal for 2018 was the selling of the Aberdeen International Business Park for £113 million.
Rising demand for offices continue (busiest year since 2006) with the retail sector falling (16%).
Douglas McPhail, head of Colliers’ Glasgow office, was reported as saying: “With transaction totalling £1.02 billion in 2018, the Scottish office market was the most sought-after sector for the second year running.
Investors mainly targeted Edinburgh and Glasgow, which together made up nearly 70 per cent of all investment.”
Brexit looming will likely cause some slow down to these recent figures with so much unknown on the UK’s position within the EU come March 29th.