New figures released by the firm have revealed that 24 of the 36 Scottish estates offered for sale in 2020 were either sold or under offer by the end of the year, with further sales agreed during the first three months of the years.

Strutt & Parker said a decline in sales had been expected during the COVID-19 crisis, due to a large proportion of estate buyers traditionally coming from overseas. However, the firm noted that the market had been “remarkably resilient” during the pandemic.

Robert McCulloch, head of estates agency for Strutt & Parker in Scotland, said: “We are seeing increased competition for estates due to a rise in green investors, whose interest in buying a Scottish estate comes from its potential for afforestation, carbon capture and rewilding, rather than traditional field sports.

“For smaller, more residentially-focused estates, demand has also increased from people who want to leave more heavily populated parts of the UK and Europe as part of the Covid-flight to the countryside.”

He said analysis of buyers showed 16 of the successful purchasers were Uk-based and eight were from overseas, with four coming from the USA.

The average size of estate being offered for sale was 2,349 – this is below the five-year average of 3,880 acres – and the offering ranged from 127 acres to 10,199 acres, The Courier reports.

Four of the estates sold in 2020 were at prices in excess of £10m, with a further three in the £5m to £10m price bracket, and the average sale price achieved in the year was £4.7m – above the five-year average of £3.7m.

Mr McCulloch added: “It is evident from both market analysis and prevailing sentiment that demand in the Scottish estate sector is at a record high while supply of estates for sale – consistent with long-term trends – remains restricted.”

He concluded: “We anticipate that the combination of an increased appetite for environmental investment, a continuation of the Covid-flight trend and value for money relative to many other property asset classes will continue to drive demand.

“This will be set against a supply that will remain at or around 30 estates for sale during the year.”