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St. Andrews, a charming coastal town in Scotland, holds great significance as the birthplace of golf. It is renowned for its Old Course, where the prestigious British Open is frequently held, attracting golf enthusiasts from all over the world. Throughout the year, the town remains lively with pilgrims of the sport. Beyond the golf course, St. Andrews bustles with tourists who come to explore the beautiful Fife area and university students who contribute to its vibrant atmosphere.
The housing market in St. Andrews experienced a significant surge last year, fuelled by the ongoing rush driven by the pandemic. Houses were being sold at prices up to 30% higher than their Initial asking prices. In December, a property located on Golf Place, merely 50 yards away from the 18th hole on the Old Course, was listed for sale and sold for approximately £1.3 million (US$1.63 million) within a mere 24 hours. George Lorimer, the director of Rettie and Co. in St. Andrews, who facilitated the sale, provided this information. This year, local agents have reported that properties continue to be sold at prices ranging from 10% to 20% above their initial asking prices.
Roughly half of the purchasers in St. Andrews are not from the local area and primarily come from the United Kingdom, the United States, and various other countries. Among these buyers, many are avid golfers who are seeking second homes, as well as parents of students who are studying in the town. According to Mr. Lorimer, St. Andrews stands out as perhaps the only location in Scotland with genuine worldwide allure. The international appeal of St. Andrews is greatly influenced by its deep connection to golf, which plays a vital role in driving the local property market.
Positioned on the sunniest and driest stretch of Scotland’s east coast, St. Andrews is conveniently situated just an hour away from Edinburgh airport. It is also easily accessible, with Dundee airport and RAF Leuchars airfield in Fife both less than 20 minutes away, attracting affluent individuals who prefer to land their private planes.
According to Mr. Lorimer, out-of-town buyers have a preference for properties located in the central area of St. Andrews, particularly in proximity to South, Market, and North streets. One of the reasons for this preference is that residents in this area have the opportunity to potentially obtain the highly desirable St. Andrew Links annual golf season ticket. Mr. Lorimer also mentioned that prices in this area have experienced a significant increase in recent years, with some two-bedroom flats seeing a rise from £400,000 to £700,000.
According to Jamie Macnab, the head of the country house team at Savills Edinburgh office, the most expensive streets in St. Andrews are The Links, Golf Place, and the two Scores roads. The properties on The Links and Golf Place offer views of the Old Course, while the properties on the Scores roads provide uninterrupted sea views. Homes in these areas can be sold for prices exceeding £5 million. The closer a property is to the links Old Course, the higher the prices tend to be, as people desire a view of the golf grounds or the convenience of being within a five-minute distance from the first hole.
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