Culture, History, and Business
Coming from a background that can be traced back to the Roman era, Portsmouth has been a significant port-city for hundreds of years. The once small town gained substantial economic prominence by the early 13th century due to the export of wool and grain. It served as England’s most integral line of defense in the French invasion of 1542 but was subject to a severe decline in the late 16th century because of a plague epidemic that killed almost 300 people out of 2000. Swift recovery was soon to come, and by the time the 20th century came around, the town had become a center of industrial development. It was officially given the city status in 1926 and has ever since become one of the most sought-after cities of the UK.
Portsmouth’s incredibly vibrant culture can be credited to its fascinating history. The city’s top-notch museums have adequately preserved many artifacts from its rich social, literary, and maritime heritage. There is a great abundance of theaters and art galleries, making it a dream destination for many. The Portsmouth Historic Dockyard houses some of the most famous ships that have ever sailed and is undoubtedly one of the biggest tourist attractions in the city. Other enticing places here include Mary Rose Museum, HMS Victory, Royal Navy Submarine Museum, and Spinnaker Tower. Portsmouth FC, the city’s most successful football club, is hugely responsible for making the love of this sport another significant aspect of its culture.
Being one of the most prominent port cities in the world has hugely benefited the economy of Portsmouth. Over the years, it has evolved into an industrial hub of the UK, with some of its main businesses being fishing, agriculture, manufacturing, trade, retail, and, most importantly, defense. The Portsmouth Naval Dockyard is the city’s largest employer and is one of over 7500 businesses currently operating in the region.
Portsmouth’s increasing economic and cultural prosperity is a good sign for the city’s real estate market. The city has become a hotspot for job-seekers in recent years and is thus prone to many commercial property investments. Its many famous attractions and remarkably high living standards have led to an influx of new residents at a very high rate, which is why the city has a higher population density than the capital, London. The demand for housing is continuously on an upward slope, leading to increased prices.
While the cost of living in Portsmouth is pretty high, its real estate is considered relatively affordable compared to standards set in southeast England. Rental opportunities are also plentiful, thanks to the city’s large tourist and student market. Overall, the prospects for reliable real estate investments in this city are exceptional.