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Hundreds of locals priced out of St Andrews homes by overseas buyers

The East Neuk can 'feel overwhelmed' by the number of holiday residents, says a Fife MSP
The East Neuk can 'feel overwhelmed' by the number of holiday residents, says a Fife MSP

Locals are being priced out of their communities by home-buyers based overseas, new figures suggest.

There are 3,038 foreign-owned properties in Tayside and Fife, according to official land registry data.

In St Andrews, 211 properties were bought by individuals and companies with a non-UK address, the sixth highest in Scotland by postcode sector.

Willie Rennie, the North East Fife MSP, said: “Sadly the number of second homes and pricey beach-front properties owned by people abroad are squeezing locals out.

“People are crying out for homes across the country and many communities in the East Neuk feel overwhelmed by the holiday residents.”

Scottish Liberal Democrat leader called for the closure of loopholes that allow holiday home owners to avoid paying their fair share of council tax.

Published on Tuesday, the Registers of Scotland report takes a snapshot of titles on December 31, 2018.

The Scottish Government agency said the reasons for ownership could be as an investment, second home, for housing family members working or studying in Scotland or ahead of moving here.

Mark Ruskell, the Fife MSP for the Greens, said St Andrews is facing the “perfect storm” of rising student numbers, increased holiday home demand and greenbelt restrictions.

“In these circumstances, it’s those with the deepest pockets who come out winners in the housing market – and that’s rarely local people,” he said.

“Local councils need more powers to limit the spread of second homes by making these subject to tighter planning laws.”

Mark Ruskell MSP

The non-UK country with the highest number of Scottish property owners is the United States.

Tax havens including the Isle of Man, Jersey, British Virgin Islands and Guernsey top the list for company ownership of Scottish addresses.