Why Now is the Time to Invest in an Off-Plan Property in Manchester City Centre
21st October 2024
There are many great reasons to consider investing in an off-plan property in Manchester City Centre. Whether you’re a UK-based or foreign investor, the city offers a host of fantastic opportunities.
What is drawing so many professionals to Manchester?
Manchester has seen spectacular growth over the past few years, with media, technology and finance being just a few of the sectors that have generated wealth and opportunities in the city. Its thriving economy has created a great deal of demand for properties. The city is also home to several colleges and universities, including the University of Manchester and Manchester Metropolitan University.
The student population is just one reason why there is such a large demand for rental properties. More than half of those who study in Manchester choose to stay in the city once their studies have come to a close in order to make the best possible start to their careers and take advantage of the fantastic career opportunities offered by the city.
Another reason why Manchester is so popular amongst young professionals seeking quality rental opportunities is that it has an outstanding transportation infrastructure including an extensive rail network, tram system and international airport. Those living and working in Manchester benefit from a high level of accessibility and convenience. Manchester has also undergone many regeneration projects. These have revitalised various areas around the city and attracted a large number of businesses and residents.
Manchester arts and culture
The city is also famous for its vibrant arts, culture and social scene, offering world-class music. Many people now regard Manchester as the UK’s second city after London. Over the River Irwell, Salford’s Media City is a major hub for some of the UK’s most prominent media companies including the BBC and ITV. It’s said that Media City has created 10,000 jobs in the area since it first opened back in 2012. Popular arts and culture venues in the area include the new Co-Op Arena, the Lowry, HOME, Albert Hall, Bridgewater Hall, the Apollo and the AO Arena, to name just a few.
The Lowry Centre- Salford Quays
The future of property investment in Manchester
Experts predict that things are only likely to get even better for those investing in property in Manchester. It’s estimated that the population of the city will rise by 70,000 by the end of the 2020s, yet only around 10,700 units are currently under construction. This means there is currently a sizeable gap between supply and demand. As the competition for quality property grows, rental yields are set to increase in line with this.
Statistics on Manchester’s economy ⁽¹⁾:
- City centre economy = over £6 billion
- Regional economy = over £62 billion
- Average annual growth of Manchester economy = 3.6%
- Five-year job creation and growth prediction = 16.4%
Employment in Manchester
Some of the world’s best-known and most prestigious brands have chosen to set up home in Manchester including Microsoft and Amazon. Some of the companies that began life as start-ups in Manchester are now worth more than £1 billion ⁽²⁾.
Train times in Manchester
Another reason why Manchester is such a big draw for professionals is that it offers quick and easy access to other major cities around the UK. Those setting up home in Manchester can reach London in just over two hours, Birmingham in around 90 minutes and Edinburgh in just over three hours.
Why invest in off-plan properties in Manchester
Off-plan properties including new builds in Manchester offer a fantastic return on investment. Many investors have seen properties rise in value even before tenants have moved into these properties. Vast savings are available for those choosing to invest in Manchester off-plan properties as well as those that have now been completed.
Off Plan Opportunities at VIVERE Residences Manchester
Investing in off-plan properties can come with various advantages including lower initial costs, potential for capital growth, flexible payment plans, securing units in high-demand areas and potential for early rental income, financial leverage and early access to new developments.
Secure your next off plan Investment with Forshaw Land & Property Group Ltd
Whether you’re interested in Manchester new builds, buy-to-let or off-plan properties, Forshaw Land & Property Group is here to help you. Established for over 15 years you can expect assured yields, capital growth and impressive returns that are well in excess of regional averages. With our help, you can get access to exclusive opportunities and deals that enable you to purchase at lower prices before construction is completed. We can introduce you to a wide range of investment opportunities for sale in Manchester and provide a bespoke service that ensures everything we do is tailored towards your specific needs.
Our privately owned family company can provide guidance at each step of the process, enabling you to maximise your investment returns and meet your objectives.
Calculate your expected rental yield by using our free rental yield calculator:
Assistance is available whether you’re a seasoned investor or are entering the market for the first time. Our sister company Primo Property Management can even manage your properties furnishings, management and even provide you with tenants on your behalf.
Contact us
We are ready to hear from you right now if you want to find out more about investing in off-plan properties, new builds and buy-to-lets in Manchester. You can reach us by giving us a call on +44 (0)1204 299 229, sending us an email or by completing the contact form on our site.
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