What Is The cost of Living in Edinburgh?

Edinburgh is the captivating and capital city of Scotland and the second most populous city in the United Kingdom. If you are considering moving to Edinburgh, it’s important to understand the cost of living associated with this iconic city. With its phenomenal architecture and compelling street art, as well as its bustling economy, Edinburgh really does offer a great quality of life. As such, it is a very popular destination across the country and overseas.

The cost of living in Edinburgh is relatively high, when compared with the rest of the UK. It was rated 6th in the 2018 Cost of Living Survey from Mercer Human Resource Consulting, and according to the UBS report, it is the most expensive city for expense accounts in the UK. However, there’s more to consider than the overall city when looking at the cost of living in Edinburgh.

Food, Travel, Amenities and Services

Rent can be expensive in Edinburgh so to balance this out a little, many other costs related to basic quality of life are cheaper than elsewhere in the country. Eating out remains affordable in comparison to London, even with the recent emergence of a substantial restaurant and bar scene.

Public transport remains very affordable and decent value for money all around the city, as there are options such as bus links and a tram line for reasonably priced travel. The Usher Hall and many other music festivals which spearhead the culture are moderately priced.

Other essential services like household bills are also reasonably priced in comparison to other large cities in the UK – meaning it’s a great destination for those looking for value for money.

Types of Properties in Edinburgh

There are plenty of house types available including flats, cottages and smaller student residential areas catering toward first time buyers. The different types of accommodation also vary drastically in terms of budgets – from a modest property costing around £250,000, to a mid-range property which can go up to a hefty £400,000 to £500,000.

Uniquely, Edinburgh also has some world-class luxury properties due to the city’s prestige – these can set you back around £800,000+. Any money saved from rental and food costs can easily be wiped out by existing mortgage or rental repayments.

Conclusion

Living in Edinburgh is exciting and offers a package of activities, job opportunities and daily life activities not easily attained in other cities across the UK. However, costs are very high in comparison with other places in Britain, as rent costs are particularly high – even with services and amenities like travel typically being cheaper.

Before deciding whether moving to Edinburgh is viable or not, it’s wise to keep a close eye on rental and purchase costs – as these can make up a huge chunk of the overall budget when living in the city. Additionally, take into consideration allocations for food, entertainment and the cost of public services when budgeting your move to Edinburgh.
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