Scotland's most expensive homes '˜failing to find buyers'
Stamp duty increases, tax on second home ownership and political uncertainty caused by the EU referendum and on-going debate on Scotland’s constitutional future have been blamed by estate agents for putting off potential investors.
The Dall Estate in Highland Perthshire, which includes a 38-bedroom mansion, 19 other homes and a golf course, is one of a number of exclusive properties that have been on the market for more than a year.
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Hide AdThe former clan seat was advertised for sale in October 2014 after plans to convert Dall House into a private members’ club were rejected.
It is currently on the market for offers over £7.5 million.
“Certain policies are making it harder for higher-end properties to be purchased,” said Kyle Coburn, director of Asset Properties and agent responsible for the sale of the Dall Estate.
“A lot of high-end properties have failed to sell in the last 12 months. The higher end is struggling.
“Farms continue to sell well, but not larger family homes.
“We had one couple buying a £1m property from us, but they also had a small Highland holiday home that had been in their family for generations - to just sell it would be a sin.
“But because they had decided to move north and buy a large family home, they had to pay three per cent second homes tax, and increased stamp duty.
“The amount of tax you handover to buy one of these homes has vastly increased in the past couple of years.”
Other landmark homes which have failed to sell in the past year include Craigcrook Castle, which is just three miles from Edinburgh city centre and has a guide price of £6m.
Meanwhile, the asking price of the Cassillis Estate in South Ayrshire has dropped to £3.9m after initially being listed for £5m.
Kate Armstrong, founder of price comparison website Confused.com, bought Cassillis House in 2009 for £3 million, before giving the neglected property a 21st-century makeover.