The Granite City’s commercial property sale figures managed to beat both Glasgow and Edinburgh from April to June (Q2) according to the Scottish Property Federation (SPF), marking Aberdeen’s second consecutive quarter at the top of the commercial property leaderboard. The SPF’s report highlighted Aberdeen’s total sales value as £123 million which, although was 26% down on Aberdeen’s Q1 2018 figures, was 68% higher than the same quarter in 2017.
The total sales value of Scotland as a whole dropped by 29% on Q1 (Jan-Mar) at £684m and 13% on Q2 2017, while the two cities of Edinburgh and Glasgow had what was described as a “subdued” performance. In Edinburgh, a sales total value of £122m constituted a 19% drop compared with Q1 2018 and nearly half of what figures were a year ago. Glasgow saw a modest increase of 8%with a sales value of £104m, however, were down 42% on Q2 2017.
The implications of this research interested SPF director David Melhuish, who said “Aberdeen continued to have marginally higher sales than both Edinburgh and Glasgow.
“Looking at the bigger picture, across Scotland the recent data suggests that the commercial property sales market has been quieter than we have been used to in the past few years.
“That said, investment remains strong in Scottish real estate, with industry data experts CoStar reporting £584m invested into the sector in Q2. This brings the total investment for 2018 so far to £1.4 billion, up on the same period in both 2017 and 2016.”
You can read SPF’s full report here.
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