Edinburgh’s property market is understandably the target of some anger among residents, with house prices and rents skyrocketing every month and seemingly little opportunity for those next in line to climb the property ladder.
Last month, an analysis by the UK government found that first-time buyers left an average of over £ 255,000 to secure a home – around £ 45,000 above the national average.
HPI statistics for September – the latest data available in the UK – found the cost of a housewarming house to have increased by £ 3,000 per month over the past year – with the average purchase price now increasing by more than 13 percent to £ 255,430.
The market is showing no signs of slowing either, with a recent listing on property site ESPC offering a “cozy” city center property for listings over £ 209,000.
The ground floor apartment is just off the main thoroughfare, Broughton Street, and has a bedroom, lounge, decent kitchen, and an outdoor courtyard.
The historic tenement is on the B-list, and its secluded location off the main drag means it’s likely quiet day and night with easy access to shops, restaurants, and bars.
But while the house is impressive, the space and facilities on offer pale in comparison to those on offer elsewhere.
Given that the average property price in Glasgow is around £ 146,000 and in Aberdeen around £ 125,000, it stands to reason that much larger space could be found elsewhere in Scotland for an equivalent price.
Looking into the distance, however, prospective buyers could secure a little piece of paradise for similar costs.
Located about 2,775 miles south of the capital, those looking for something a little different might consider a three-bedroom semi-detached house just a stones throw from the beach in Lanzarote.
The property has its own private, heated pool and sunny terrace, as well as a lounge and large kitchen – as well as a separate utility room.
The striking white exterior contrasts beautifully with the island’s famous ash-colored volcanic sand, creating a unique aesthetic that is unlikely to be found within walking distance of the York Place tram stop.
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For those who need easy access to the city center, it’s barely a commuter distance, but with the home office being extended until at least January, potential residents can comfort themselves with the fact that temperatures rarely drop below 17 degrees in the winter months.
You can check all of these properties and many more on both the ESPC website and the Rightmove website here.