Ireland’s fiercely independent and dynamic second city
Discover Cork's Real Estate
Cork holds a special place in the Irish imagination. Often referred to by its proud residents as Ireland’s “real capital” due to its strong support for Irish independence in the early 20th century, Cork is today the nation’s second-largest city and the most important city on the south coast. With plenty of history and cultural attractions, it attracts many tourists every year and its pro-business climate has turned it into a hub for pharmaceutical and tech companies.
Culture, History, and Business
First founded as a monastic settlement in the 6th century, Cork became a Viking settlement in the 10th century. It grew over time to become one of the most important cities in Ireland, owing largely to the advantages of its harbor, which is one of the largest in the world. In the 19th century, Cork became a hotbed for Irish independence activism and took a leading role in both the War of Independence and the Irish Civil War. While war brought devastation to the city, it has bounced back and is now one of Ireland’s most attractive and dynamic cities.
Cork’s large natural harbor remains an important part of economic life here and helps to make the city an important port. However, there is more to Cork’s economy than just trade. The city has adopted a number of pro-business initiatives, and the result is that it has attracted major companies—especially in the pharmaceutical and technology sectors—who have set up major offices. Tourism is also a significant part of the economy, with Cork being one of Ireland’s top destinations for overseas visitors.
Real Estate Appeal
Cork holds a lot of potential for real estate investors due to its growing tourism numbers and strong overall economy. Investors looking to set up short-term rental properties will find much to like about Cork thanks to its strong tourism numbers and the fact that it attracts quite a few business visitors. While Cork is not a huge city, it attracts more than 1.6 million overseas visitors each year, meaning there is a significant opportunity for properties catering to this market.
The city is also growing and investors may want to consider a more long-term investment strategy focused on selling to Cork residents themselves. Because Cork has a fairly strong economy, it attracts a large number of newcomers from elsewhere in Ireland and abroad, especially to its pharmaceutical and technology sectors. As a result, investing in neighborhoods in the suburbs, where properties can go for just over €2,340 per square meter, may present a good opportunity.
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Attractive Investments In Cork
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