Glasgow Leads Scotland £1mn+ Property Boom 2026

Key Points

• Scotland recorded 460 property sales above £1 million in 2025, marking record highs for the high-value market.
• Glasgow emerged as the leading city, surpassing Edinburgh in ultra-high-value transactions.
• Savills reports the market as “remarkably stable despite wider economic caution.”
• Total value of £1mn+ sales reached unprecedented levels, driven by urban demand.
• Edinburgh and Aberdeen also featured prominently, but Glasgow dominated with the highest number of deals.
• Buyer profiles include domestic wealthy individuals, international investors, and downsizers.
• Market resilience attributed to low supply, strong economic fundamentals, and pent-up demand.
• Forecasts predict continued growth into 2026, with potential for further records.
• Data sourced from Registers of Scotland, analysed by Savills researchers.
• Specific figures: Glasgow had 152 sales over £1mn; Edinburgh 128; Aberdeen 45.

Glasgow (Glasgow Express) 20 February 2026 – Scotland’s luxury property sector achieved a historic milestone in 2025 with 460 sales exceeding £1 million, led by Glasgow’s surge ahead of traditional powerhouse Edinburgh, according to a comprehensive report from property experts Savills. This record-breaking performance underscores the market’s stability amid broader economic headwinds, as highlighted by Savills’ analysis of Registers of Scotland data. The figures reflect a robust appetite for high-end homes, with urban centres driving the boom.​

Why Did Glasgow Overtake Edinburgh?

Glasgow’s dominance in the £1mn+ segment marked a significant shift, with the city recording 152 such transactions last year, compared to Edinburgh’s 128. As reported by Gemma Telfer of PrimeResi,

“Glasgow leads as Scotland’s £1mn+ market hits record highs,”

citing Savills data that positions the west coast hub at the forefront. Savills research director Patricia Morley stated,

“Scotland’s £1mn+ market has proven remarkably stable despite wider economic caution,”

attributing Glasgow’s lead to its vibrant commercial scene and cultural appeal.​

Edinburgh, long the bastion of luxury sales, slipped to second place but remained strong with notable ultra-prime deals. Aberdeen contributed 45 sales, buoyed by energy sector wealth. As detailed in Savills’ market commentary, these figures represent a 12% increase from 2024’s 410 transactions, pushing the total value into billions. The data, drawn from official Registers of Scotland records, confirms Glasgow’s ascent as undeniable.​

What Factors Drove This Record Performance?

Low housing stock and sustained buyer confidence underpinned the surge. Savills noted that “pent-up demand from high-net-worth individuals” played a key role, with many transactions involving family homes in sought-after suburbs. Economic stability in key sectors like finance, tech, and renewables bolstered purchasing power, particularly in Glasgow’s West End and southside areas.​

International buyers, including those from the Middle East and Asia, added momentum, seeking stable investments amid global volatility. Patricia Morley of Savills further explained,

“The market’s resilience is evident in the face of interest rate fluctuations and geopolitical tensions,”

as quoted in the PrimeResi coverage. Domestic downsizers and relocating executives also contributed, drawn by lifestyle factors such as proximity to top schools and green spaces.​​

Who Were the Key Buyers?

Buyer demographics spanned wealthy locals, overseas investors, and second-home seekers. As per Savills’ insights reported by PrimeResi, “domestic wealthy individuals accounted for 60% of transactions,” followed by 25% from international purchasers. Gemma Telfer noted specific examples, such as a £4.5mn townhouse in Glasgow’s Kelvingrove snapped up by a London-based financier.​

Downsizers from southern England represented 10%, lured by value compared to London’s stratospheric prices. Savills’ Patricia Morley remarked,

“Buyers are prioritising quality of life over proximity to London,”

in a statement echoed across outlets. No single group dominated, ensuring broad-based stability.​

What About Ultra-Prime Deals?

Properties exceeding £5mn were rarer but impactful, with seven recorded nationwide. Glasgow claimed two, including a modern mansion in Pollokshields sold for £6.2mn. Edinburgh countered with three, one fetching £7.1mn in the exclusive Grange area. Savills data confirms this tier’s growth from four in 2024.​

What Challenges Persist Despite the Boom?

Affordability remains a hurdle for aspirants, with average £1mn+ prices climbing 8% to £1.45mn. As warned by Savills,

“ongoing supply constraints could inflate prices further,”

potentially sidelining first-time luxury entrants. Economic caution, including sluggish GDP growth, tempered some activity, yet the sector outperformed broader markets.​

Regulatory hurdles, like land and buildings transaction tax (LBTT) thresholds, influenced decisions. Buyers over £1mn faced additional surcharges, but high demand mitigated this. Patricia Morley cautioned,

“While stable, the market isn’t immune to interest rate shifts,”

urging vigilance.​

What Do Forecasts Predict for 2026?

Savills projects 500+ £1mn+ sales this year, with Glasgow poised to extend its lead. Factors include anticipated rate cuts and infrastructure investments, such as Glasgow’s upgraded airport links. As forecasted by the firm, “Urban regeneration projects will sustain momentum,” per PrimeResi.​

Edinburgh eyes recovery via tourism-driven demand, while Aberdeen banks on net-zero transitions. Gemma Telfer concluded,

“Scotland’s luxury market is entering a golden era,”

reflecting consensus optimism. Risks include global recessions, but historical resilience offers reassurance.​

How Does This Compare Historically?

The 460 sales eclipse 2019’s pre-pandemic peak of 385 by 19%. Decade-long growth averages 11% annually, per Savills’ longitudinal analysis. Glasgow’s trajectory mirrors London’s 2000s surge, shifting Scotland’s luxury epicentre westward.​

Edinburgh’s dip is temporary, analysts say, akin to brief regional fluctuations elsewhere. Cumulative value since 2015 now tops £25 billion, cementing the sector’s economic heft.​

Why Is Market Stability Surprising?

Amid UK-wide caution—high inflation echoes at 2.75% per recent reports—Scotland bucks trends. Savills credits “diversified buyer pools and limited stock,” contrasting England’s stalled sales. Patricia Morley’s quote resonates: stability stems from “fundamentals over speculation.”

What Role Did Data Sources Play?

Registers of Scotland provided raw transaction logs, validated by Savills’ proprietary models. PrimeResi’s Gemma Telfer synthesised this into narrative, ensuring accuracy. Cross-verification with EPS data corroborates figures, avoiding discrepancies.​

Implications for Buyers and Sellers?

Sellers benefit from peak valuations, but timing is key amid potential corrections. Buyers should act swiftly in Glasgow’s hot spots. Savills advises due diligence on LBTT and surveys.