Savills has reported that the number of homes in Scotland worth at least £1m has exceeded 10,000 for the first time ever in 2022. The exact number, give or take a few, is 11,481. This represents an increase of 1,661 properties from 2021 and a 3-year change of 5,095. See the table below.

Whilst most of us probably can't afford one, it is good to see that property in Scotland has the ability to achieve high levels, which in turn attracts wealthy individuals who not only want to live in Scotland but spend and invest. Despite our housing issues at the opposite end of the market, we still need some wealthy residents!

More than half of the properties in Scotland valued at £1m or more are located in Edinburgh.

Of course, we are nowhere near the numbers of London, not that anyone would have expected that!

I have also included Wales in the table above as they have seen the largest increase across the entire country — a 26% increase since last year and a 146% increase in the last 3 years.

Also worth noting is that more than half of the properties valued over £1m (53%) are outside of London. That is the highest number outside of London we have seen in 15 years.