In recent times, Manchester in England has seen a massive rise in prices of real estate. Due to this economic change, more and more investors have been speculating and looking into further investments in the city as it is proving to be really beneficial and lucrative. Such sudden increase in the value of the city is caused by the rapid expansion of companies and workers due to better facilities, provisions and results.
Due to these economic changes and developments, analysts are saying that several other factors and forms of investment have also improved or emerged into the scene like real estate funding from around the world, funds from within the country, wealth aid from the sovereign and so on. Growth of this extent was never previously seen in Manchester before and thus it is spectacular to see how these investments have completely transformed the city and put it on the global economic map.
As real estate is the main focus around which all the growth and expansion is taking place, government data shows that the city authorities have launched a project to establish 49,000 new houses. Among these, about 19,000 are already being constructed. These numbers are rather large scale and show how rapidly people are migrating to Manchester to be a part of this more developed, happier and fruitful lifestyle that seems to be lacking in the capital, London, these days. Manchester not only provides economic growth and stability that everyone aims for but also great benefits and returns that are not available in major cities anymore.
Data analysts are of the opinion that Manchester can be safely labelled as the second biggest economic hub in UK after London and this proves how much the real estate value has a role to play in it. Due to the rapid and promising financial growth and expansion, more large scale companies are planning to invest and establish branches and business centers in the city. The benefits arising out of investments in the city are so huge that the biggest companies are rushing to put their mark on the land so that they do not miss out on such a grand investment opportunity.
Moreover, UK is one of the most sought after higher education destinations for students from across the globe and so student residence planning in Manchester will be very profitable and also a strong foothold for further growth and development. However, despite these flourishing developments and projects, many are of the opinion that the sudden increase in real estate investment might also lead to a massive rise in the prices of houses in the city, roughly around 60 percent more than prevalent rates. Then again, the prices would not be so high as to deter people from investing.
The financial scenario differs in Manchester and London. In London, a hike in values lead to a stagnant market. Factors like Brexit really impacted the market. However, as Manchester is a comparatively new economic market it can be safely assumed that there will be a constant gradual growth in the numbers and there are no chances of stagnancy any time soon. Manchester should start seeing tremendous growth in residential and commercial real estate alike and the trend should continue in the near future as well.