The Cathedral City
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The city of Canterbury is one of the historic cities in England, the UK, and is a world heritage site according to UNESCO.
Culture, History, and Business
Often referred to as the Cathedral City in the southeastern parts of England, it served as a pilgrimage center during the Middle Ages. The Romans built its surrounding ancient walls. The Canterbury Cathedral, featuring
Romanesque and Gothic elements, established in 597 A.D. was named the Church of England and Anglican headquarters.
Canterbury district had about the economy worth of £1.3 billion in 2001 with the retention of 4,761 businesses. This resulted in the district becoming the second-largest economy in Kent today. The estimated value of the city’s tourism is over £450 million, with a visit of 7.2 million people in a year. Higher education is accessible to three main universities in the city.
Along with education, the Kent and Canterbury Christ Church University successfully provide for 16% of all jobs in the city. 5,700 businesses are located in the city of Canterbury. This number is predicted to increase significantly over the next decade. In 2017, the Startup Cities Index ranked the city among the top 25 places for a business startup in the UK.
There is also a massive infrastructural development that will see an investment of £320m put into the city by 2031. The excellent educational system in the city has led to an increase in the quality of the workforce. About 50% of the total employees in the city are educated up to degree level. The Canterbury Universities produce approximately 10,000 new graduates and undergraduates annually.
Real Estate Appeal
The real estate in Canterbury is witnessing stability in house prices, making people continue to choose to invest in a new property to rent and sell.
The city offers an array of choices as regards housing styles. The houses range from historic homes at the city center to newer, more modern houses constructed in the coastal towns and surrounding villages. At least 16,000 new houses are predicted to be completed within the next decade to cater for the projected 17,000 new employees from jobs that will be created across multiple sectors.
Rental yields at the city center are at a rate of 4.34% while outside the city center is 4.62%. The cost of renting a one-bedroom in the city center and outside the city is €690 and €575, respectively. Similarly, the cost of renting a three-bedroom in the city center and outside the city is €1,197.5 and €880, respectively. The cost of an apartment in the city center is €3,412.5 per sq. meter while outside the city center cost €2,530 per sq. meter. For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
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