IT has a thriving youth scene, boasting three universities, 40,000 students and attracting thousands of young people every year to the world’s biggest arts festival.
But a survey has revealed that Edinburgh also attracts people at the other end of the age spectrum after it was named the place that more people in Scotland would like to retire to than any other.
The Capital was voted the location where eight per cent of Scots said they wanted to retire to, with Stockbridge top of the wishlist for future “last-time buyers”.
A further ten per cent of those who chose Edinburgh said they would like to retire to Morningside, while eight per cent would opt for Corstorphine.
The report, compiled by the Bank of Scotland, found that the next most sought after place in Scotland for future retirees was Glasgow, followed by the Highlands and any overseas destination, which tied on seven per cent.
Paul Green, spokesman for over-50s specialist Saga, said that the new generation of retirees were more likely to look to draw their pension in a more vibrant area where they can remain active.
“There is now a new age of ‘part-retirees’ – people who are still active and might have voluntary or part-time jobs,” he said. “I think people now want to retire in a place where they have a range of facilities such as restaurants, theatre, bars and even clubs.
“It is not a surprise that Edinburgh tops the list of places to retire, in that case. While retirement used to be like a jump off a cliff, where people’s lives changed suddenly when they went from working full-time to nothing, it is now more like a gentle stroll down to the beach and people’s wants of what they expect from a place to retire are different.”
The majority of the 3000 people surveyed said they want to retire in the area where they currently live or have always lived.
“Around half of people looking for a move said they would be looking for a quieter life in their retirement, either by the seaside or in the country, while the remainder said they would opt for a more vibrant city setting for their retirement.
Robin Bulloch, managing director of Bank of Scotland, said: “Our research on future Last Time Buyers has provided a great insight to Scotland’s communities. While Edinburgh is the most popular destination that Scots want to retire to, Glasgow and the Highlands are hot on its heels.
“As a stage in life not usually focused on, it’s interesting to see where people would like to settle and buy their last home.
“With such a diverse landscape Scots are really spoilt for choice.”