United Kingdom: ESG drives rural market in greener direction

The Scottish estate market has entered a new era, where newly perceived attributes are attracting buyers looking to fulfil their environmental, social and corporate governance (ESG) objectives, according to Savills.

Analysis of the firm’s sales data demonstrates a 98 per cent increase in buyers registering with the agency to purchase rural property in Scotland last year.

Lockdown continues to amplify this trend, despite the fact that international buyers’ opportunities to view Scottish property are severely limited due to travel restrictions.

As a result, about 70 per cent of Savills’ Scottish estate buyers last year were based in the UK, although the interest generated was global.

The market is rarefied. Of the country’s rural estates – defined as a landholding that includes a mixture of asset or enterprise types, such as residential, farming or forestry – only 23 changed hands last year.

While this in line with the long-term average, the total value of Scottish estates sold in 2020 increased by 43 per cent to £100 million, in part as a result of stronger demand from ESG buyers.

The original full article can be found at scotsman.com

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