A quiet city with a thriving economy and real estate industry
Discover Peterborough's Real Estate
With a population of over 200,000, Peterborough is one of the fastest-growing cities in the world. Located just 122 kilometers away from the country’s capital, London, this city has witnessed rapid industrial development in the 21st century. This, along with its rather beautiful countryside and an efficient transport network, is why thousands of people from around the world are making Peterborough their home each year. Population growth has created a massive demand for residential as well as commercial real estate in Peterborough.
Culture, History, and Business
Peterborough is one of the 69 Cathedral Cities in the UK and known for its rich historical heritage. With roots that can be traced back to Roman Empire days, it developed over time as small settlements. By the 18th century, the city established its footing as a small market town, but real development came in the 19th century when the brick-making industry flourished, and the population steadily grew. The trend continued into the 1900s, triggering rapid industrial growth that is credited for the presently thriving economy of the city.
Peterborough has a colorful and diverse culture. The city’s love for arts, education, sport, and media is what makes it so attractive to people from all over the world. There are hundreds of tourist landmarks and attractions in the city, the most famous of which is undoubtedly the Norman Cathedral. With a population that includes people of African, Indian, Pakistani, and Italian descent, the city is one of the more culturally diverse areas of England.
Often called a city of innovation, Peterborough has a robust industrial and business sector. The primary industries in the area include manufacturing, food, energy, and financial services. With an already well-established international reputation, the city’s strong ambitions are expected to soon turn it into a global economic power. Since the implementation of a redevelopment plan in 2012, Peterborough has had a 3.78 percent per year industrial growth. Not only is this greatly benefiting the economy, but it’s also opening up great opportunities for real estate investors from around the world.
Real Estate Appeal
Peterborough is steadily rising as one of the best options for real estate investment at the global level. Property prices have shown a considerable jump in recent years, going up by 34 percent from 2013 to 2018. The economic success in recent times has prompted many people and industries to set up shop in this city, significantly increasing the demand for residential properties, mainly flats and apartments, in the area. The government has been putting large funds into the redevelopment of the city’s infrastructure to accommodate the growing population, with imminent plans to construct 1,300 new homes.
With employment prospects on the rise and the economy gaining evermore strength by the day, properties in Peterborough are in high demand. A smart real estate investment is bound to bring in healthy returns.
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