England’s second city is now first in the eyes of many real estate experts when it comes to property investment. Birmingham is currently undergoing several massive regeneration projects while banking powerhouses Deutsche Bank and HSBC are just a few of the organisations to open new headquarters in the city.
It’s all part of Birmingham’s Big City Plan, the UK’s most far-reaching development project ever, that will help bring an estimated 50,000 jobs to the city by 2022. Population growth is also expected to skyrocket with an estimated 171,000 new residents likely to settle down in the city between now and 2039.
And with new residential, retail and office buildings being built and more people moving to England’s second city, real estate experts are bullish on Birmingham property investment. The 2017 PwC and Urban Land Institute’s Emerging Trends in Real Estate report ranked the city as the sixth best place in Europe for investment prospects.
Location matters when it comes to Birmingham property investment
Like all real estate investment, it is important to select the right location in Birmingham for the best possible returns. According to Knight Frank, investors can expect yields of 5.5 to 6 percent from projects in central Birmingham. A lack of available space in the city centre couple with strong demand from those working in the area makes this the ideal location for Birmingham property investment.
“People moving (to Birmingham) with their companies want to live in the core. We are seeing a high number of repeat investors from London and the South East wanting to get their hands on anything in this area. They see it as a safer bet than London and with much more room for profit growth,” Peter Smith, residential development associate at Knight Frank, explained to the Telegraph.
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