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Perfect Time to Purchase in One of Scotland’s Most Desirable Postcodes

The Scottish Government has made significant financial changes to rebuild the country which will allow potential buyers to relocate to one of Scotland’s most sought after developments.

Holyrood’s decision to reduce the ‘land and buildings transaction tax’ (the Scottish equivalent of stamp duty) threshold comes as an encouragement to those looking to purchase a two-bedroom apartment at The Walled Gardens, St. Andrews.

Finance Secretary Kate Forbes followed her English counterpart in introducing the short-term cuts to the taxes imposed when buying property – to incentivise investment and help the property market recover after the initial shock of the coronavirus pandemic.

Temporary changes mean prospective buyers will be able to save £1,500 on a two-bedroom apartment at The Walled Garden, as new legislation revealed properties under £250,000 will remain untaxed.

It is expected the change will help those looking to downsize or find the perfect retirement property, allowing older people to purchase safer, more suitable homes.

Coleen Clark, Business Support Officer at Bield, said: “We welcomed the Finance Secretary’s decision to give so many prospective buyers a holiday from stamp duty. Consumers need to be offered a significant incentive and a way to get more for their money. 

“The apartments at The Walled Gardens were designed for modern living and make for the perfect base for those looking to relocate or downsize to one of Scotland’s most desirable postcodes – so we would encourage those interested to book a viewing now as we only have three two-bedroom apartments remaining.”

Other features available at The Walled Gardens, to help those who may not be able to afford the full price of a luxury apartment, is Shared Ownership which allows buyers to only pay for 75% of the property value.

Alternatively, for those downsizing, it allows the owner to retain their money and choose how they use it. After one year, the owner has the choice of purchasing the remaining 25%, or indeed, remain as they are.

The Walled Gardens is a prestigious collection of 78 one- and two-bedroom retirement apartments, located in the heart of St Andrews, which seamlessly blend traditional architecture and construction with modern energy efficient interiors to make day to day living easy, safe and comfortable.

 Two bed apartments start at £202,125

Following government guidance, viewings are available by appointment only.

To arrange a viewing, call Thorntons Bell Street, St Andrews 01334 474200.