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Edinburgh is Scotland’s Top Retirement Destination

Edinburgh is the destination of choice in Scotland for people looking to buy their last home for retirement, according to new research from Bank of Scotland.

In a recent survey, over 3000 Scots were asked to name where they would like to retire, even if this was many years away. The capital topped the list on 8%, very closely followed in second place by Glasgow, the Highlands and abroad, which all tied on 7%.

Future ‘Last Time Buyers’ – who are looking to buy their last property for retirement – aspire to living in the capital’s Stockbridge area (13%) over any other part. Known for its architecture and coveted colony houses, Stockbridge’s close proximity to the green open spaces of the Royal Botanic Gardens and Inverleith Park, plus ease of access to the city centre makes this area the most popular.

Bank of Scotland’s research found that there were three clear categories of ‘Last time Buyers’, with the majority of people wanting to retire in the area where they currently live or have always lived. There is then a fairly even split of those looking for a quieter life, either by the seaside or in the country, and those wanting a more vibrant city setting for their retirement.

Looking ahead to retirement, Scots don’t want to venture far from the area they know. Over half (55%) of Fifers want to remain there, the highest result of all respondents who said they want to retire in the region they are currently in. Those living in Glasgow and Edinburgh are also content where they are, with over two fifths (44%) of Glaswegians and Edinburgers (42%) wanting to remain in their respective cities when they draw on their pension.

“Our research on future Last Time Buyers has provided a great insight to Scotland’s communities,” explained Robin Bulloch, Managing Director of Bank of Scotland. “While Edinburgh is the most popular destination that Scots want to retire to, Glasgow and the Highlands are hot on its heels.”

“As a stage in life not usually focused on, it’s interesting to see where people would like to settle and buy their last home,” he added. “With such a diverse landscape Scots are really spoilt for choice.”

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