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The coming of the Chinese lairds to Scotland
Brief:Wealthy Chinese investors scouring the property market to find a Scottish castle because of the golfing interest.
Scotland is on the verge of having its first Chinese laird. Wealthy Chinese investors are said to be scouring the property market to find a Scottish castle to call home.

At least three country castles on sale for more than £2 million have been sold or are under offer after buyers sought to avoid the end of the stamp duty holiday in last month’s Budget. Sales prior to the Budget attracted a 5 per cent tax, which has now risen to 7 per cent. Deals signed prior to change will have saved the buyer £40,000 on a £2 million property.

Ran Morgan, head of Scotland residential property at Knight Frank, which has several properties over £2m on its books, confirmed an increase in interest from China.

Jamie Macnab, of estate agent Savills, said it had also seen an increase of interest in Scottish rural properties from China. “It’s a market we expect to grow. We’re constantly looking at how to attract Asian money, and we’re confident it will come. We had one young Chinese man who came into the Edinburgh office recently, hired a cab and then went to view eight properties in Fife because of the golfing interest. Golf is a key reason why the Chinese and the Koreans want to buy property here.”

John Coleman, head of residential and farm agency at Smiths Gore in Scotland, said: “There have been one or two large Chinese consortiums looking for investments in the UK and have looked at a few Scottish estates but we’re unaware of any transactions having gone through yet. They are testing the water, and they’ll do it in London first.”
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