An In-Depth Guide On Birmingham
For property investors in this part of the world, Birmingham is usually not the first name that comes to mind. Especially since this overlooked area is constantly overshadowed by more prestigious UK hotspots like London and Manchester.
That is likely to change really soon. Because Birmingham is undergoing a transformation that is set to propel this unassuming town, into one of UK’s biggest business, industrial and entertainment center.
This bodes well for investors, as there will be opportunities aplenty to capitalise on the up-and-coming Birmingham property market.
Best of all, investors today have the chance to get in on “entry-level” properties with high potential future growth.
To give you a better understanding on Birmingham, and why this hidden gem is about to be unearthed, here are some key facts.
Birmingham attracts over 41 million visitors per year, with around 1 million being international visitors.
Almost 40% of the population is under 25 years old, making it one of Europe’s youngest cities.
There are 5 universities with over 73,000 students, with a good mix of locals and foreigners.
90% of the UK, including London, is less than 4 hours from Birmingham.
Customer research revealed that Birmingham is the 3rd most popular location for shopping in the UK.
Birmingham’s business, financial and professional service (BFPS) hub is the 2nd largest in the UK.
These are present-day statistics that are set to strengthen even further in the near future.
That’s why property investment levels in the west midlands (where Birmingham is situated) is at an all-time high, as investors are noticing the potential for employment opportunities and demand for quality city center living.
However, perhaps due to a geographic unfamiliarity, Birmingham properties are currently overlooked by many investors in the Asia Pacific region.
This may not be a bad thing at all. For savvy investors who recognize Birmingham’s potential, they have the opportunity to “cherry-pick” high yield properties at bargain prices.
In 2010, the Birmingham Big City Plan was set in motion. This strategic planning process is scheduled to span 21 years (ending in 2031), and the goal is to transform Birmingham into a world class city.
9 years on, the effects of this metamorphosis have already made a significant impact. And we’re not even half-way through the whole process!
Looking ahead, the High Speed 2 Network, a train route that connects Birmingham and other major UK cities, will be completed in 2026. This is expected to bring an additional 50,000 jobs to the area.
To prepare for this influx of employees, Birmingham has been segmented into 6 economic zones – Manufacturing, Enterprise, Environmental Enterprise, ITEC (International Therapy Examination Council), Life Sciences, Food & Drink.
This is meant to create “mini-hubs” of specialization to entice businesses to set up headquarters in Birmingham.
In recent years, global brands like HSBC, Deutsche Bank and BBC among others, have already relocated to this thriving city. More are set to follow in their footsteps.
Based on present and future trends, one thing is clear: the property market in Birmingham is primed for a colossal surge.
We all know this: More jobs created will naturally lead to a greater need for housing.
So why not take this chance to profit the upcoming Birmingham property boom, and explore the possibility of snagging a unit for yourself?
But first things first. We understand that you may not be 100% familiar with the area. And when it comes to property investment, acquiring knowledge is critical in making the right purchase decisions.
That’s why we’re more than happy to give you all the info you need and empower you to add the right Birmingham property to your portfolio.
If you’re keen to find out more about the property investment opportunities in this “under the radar” city, feel free to drop your details below, and we’ll contact you ASAP to explain further!
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