Edinburgh among Europe’s most expensive for expats

Edinburgh has risen eight places in the global rankings for expatriate rental accommodation, according to new figures.

The latest ECA International report shows the average cost of a three-bedroom, mid-range home in the Scottish capital has increased by £106 a month to £1635.

It is now ranked as the 156th most expensive location for expat rental accommodation in the world and the 43rd in Europe.

Alec Smith, accommodation services manager at ECA, said: “In addition to a growing population due to the high standard of liveability attracting expats, the prevalent Airbnb market has also impacted the cost of rental accommodation in Edinburgh as availability of longer-term rental accommodation fails to meet current demand.”

Meanwhile, the slowing oil and gas industry has led to rental costs dipping further in Aberdeen, resulting in the city’s lowest ranking since 2012.

The average cost of the same type of property in Aberdeen now costs £1160, £475 cheaper per month than in Edinburgh, and down from £1235 in 2019.

It is now £528 a month less than it was at its £1688 peak in 2017.

The report ranks London as the most expensive rental accommodation in Europe for expatriates, with an increase of £121 per month.

Gordon Maloney from tenants’ union Living Rent said: “These statistics show that while coronavirus dominates the headlines, Scotland’s housing crisis is only getting worse.

“It is right that the Government has banned evictions but they are yet to offer tenants any support with actually paying rents.

“That means serious difficulties for tenants up and down the country over the coming months and, if nothing changes, an unprecedented wave of evictions when the ban on evictions is lifted.”

He added: “We have been calling for emergency measures to write off rents for tenants who cannot afford them over this period but it is also clear that we need more permanent solutions to our broken housing system.

“It is long past time for Scotland to follow the lead of countries across Europe and bring in strong limits on rent prices.”