HOW IT RATES

Famous for its castle and its festival, Edinburgh became Scotland’s capital in the 15th century. The first Scottish Parliament since the Act of Union in 1707 convened here on May 12, 1999, and the new Scottish Parliament building followed in 2004, having cost a princely £430 million.

ARCHITECTURAL GEMS

Both the Old Town and the Georgian New Town are packed with gems nestled into the hilly townscape. The volcano-mounted medieval Edinburgh Castle dominates the former and Neo-Classical crescents make up the latter. Holyrood Abbey dates from 1128 and the Palace of Holyroodhouse was home to Mary, Queen of Scots.

WHAT’S NEW

Waterside developments in Granton, Western Harbour and Leith Docks are forecast to add 15% to the city’s current housing stock, providing 32,300 new homes by 2025. Maritime Bonds on Water Street in Leith will be 44 new homes by FairMuir Ltd. Contact Knight Frank (0131-222 9611).

QUALITY OF LIFE

Very good indeed. The cultural wealth and cosmopolitan atmosphere makes it popular with intellectuals, creative people and students, as well as tourists. The poverty chronicled in the Leith scenery has been upgraded somewhat since the 1990s.

TRAVEL

Trains to Glasgow take 50 minutes from Edinburgh. Trains from King’s Cross to Edinburgh run hourly and take up to five hours. Flights between the capitals take 1½ hours.

POPULATION

Estimated at 457,830, an increase of about 10,000 since 2001. There are about 20,000 more women than there are men.

SMARTEST STREETS

The New Town is commonly regarded as the most desirable district, with its Georgian squares and crescents. Murrayfield and Morningside are also quite well to do and The Shore, in Leith, is the city’s revamped Docklands.

BEST RESTAURANTS

The Balmoral (Number One) and Channings offer high-end dining in a luxury hotel. Vintners Rooms cooks locally sourced food in a French style, and The Witchery by the castle does updated Scottish classics. But the best food in town is found at Restaurant Martin Wishart, made affordable with the £22.50 lunch menu.

NIGHTLIFE

Broughton Street has some excellent pubs, including the Barony Bar. Bow Bar has a wealth of whiskies on offer. Favorit serves food until 2.30am. Port O’Leith is a Leith institution, previously frequented by David Mamet and Irvine Welsh. The Festival Theatre and The Playhouse are the major theatres. For concerts, try the Usher Hall.

EDUCATION

Tony Blair received his preOxford education at Fettes College. The Edinburgh Academy is very good. Broughton High School is a top state school that includes The City of Edinburgh Music School. George Watson’s and George Heriot’s are two popular independent schools.

WORKING LIFE

90% of the working population are employed in services, with banking (16%), business (14%) and retail (10%) being the largest sub-sectors in that bracket.

UPSIDE

Arthur’s Seat is an extinct volcano in the middle of town well worth the 30-minute climb. Known as an intellectual hotspot since the late 18th century, the city is culturally brimming. The Edinburgh International Festival is one of the world’s major art festivals; the simultaneous Edinburgh Festival Fringe is the informal programme of less established acts, from amateur to avant-garde.

DOWNSIDE

Last weekend’s massive sewage spill has affected the coastline just north of the city, so no spring picnics on the beach. And no hotel rooms are to be found in festival season; book early.

£205,189 The average property price in Edinburgh
Source: Halifax

1% The change in house prices in Edinburgh over the past three months
Source: Halifax

158% The change in house prices in Edinburgh over the past ten years
Source: Halifax

6th Edinburgh’s position among the largest fund management centres in Europe
Source: CACI’s Acorn data

Explore Property

• Buying & Selling

• New Homes

• Overseas

• Interiors

• Investment

• Gardens

• Cool In Your Code

• Specials

Times recommends

• Analysis: frustration for everyone - except investors
• Spanish property: why it's crunch time on the Costa del Sol
• Buy-to-let: professional investors cash in on the credit crunch