The City of Arcades
Discover Cardiff's Real Estate
Cardiff is the capital city of Wales and its largest city. It is also ranked eleventh in the UK’s biggest cities. The largest coal port on the globe - it is surrounded by hills to the north, east, and west.
Culture, History, and Business
Cardiff is an ancient city with many archeological studies suggesting that the city has had settlements as early as 6000 BC. Before the Romans conquered Britain, the city of Cardiff was in the Silures territory during the Iron age. An 8-acre fort formed in AD 75 during the Roman regime close to the mouth of Taff River has become the northwest boundary of Cardiff.
The city contributes over 20% of the Welsh GDP. The economy of Cardiff is estimated to grow at a rate of 25% by 2034. This is higher than the growth projections made for other cities within the UK. The economy of Cardiff has been growing at a higher pace compared to any other British capital city, London inclusive.
The economy of this capital city is a service economy based on financial and business services, growing digital and bioscience sectors, education and public administration, health, tourism, TV, film, and media industry, and ICT. The economy also features lucrative jobs.
Real Estate Appeal
The property value in Cardiff took a nosedive between the 70’s and 80’s; however, significant rejuvenation has since seen the city transformed into a modern European city. A lot more redevelopments are underway to improve the property valuation of the city. A proposed £500 million redevelopment plan across Cardiff Bay will see the construction of a 15,000-seat indoor arena with apartments, restaurants, and bars. The property market in Cardiff is also a long-term hold market. The property values have increased by 240% over the past two decades.
The property prices in Cardiff are among the most expensive within its country. However, they are way below the British average. Cardiff’s rental demands are flourishing, and buy-to-let investors are already collecting lucrative yields. Rental yields at the city center are at a rate of 5.2% while outside the city center is 5.7%. The cost of renting a one-bedroom in the city center and outside the city is £667.14 and £509.21, respectively.
Our subsequent articles will discuss the reasons why it is a good bet to invest in real estate in Cardiff and its best value areas.
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