@icanboogieboogiewoogie
I'd say Edinburgh city centre is an undesirable place to live precisely because of the numbers of holiday lets.
Really, please don't perpetuate this. Young, older and middle aged Scots just don't want to live in larger city centre properties. Its exactly the same in Aberdeen, where you can now buy one bedroom flats in the city centre for less than 50k.
Scots on the whole want to live in new build housing estates on the fringes of the city, or, if they can afford it, in The Grange, or Marchmont, or Comely Bank or Barnton, etc.. I would love to let long term to a family or even a group of older sharers, rather than having to let to students and do holiday lets in the summer, but there is just no market. The number of businesses that have moved out to places like South Gyle from the centre hasn't helped either.
Young Scots in particular don't want to move into city centre house shares in the way that you get in other countries. They prefer to live at home until they buy a starter home with their partner. The people who buy one bedroom flats near the city centre have generally moved from elsewhere to Edinburgh.
Generalising hugely, but in nearly 2 decades of being a landlord in Edinburgh city centre, I know my market, and I know exactly how City of Edinburgh Council makes a lot of of money out of licensing everything in site. Its latest wheeze is charging homebuyers £50 for a outstanding statutory notices on record!