When you mention the United Kingdom, London is usually the first city that comes to mind. But over the years, the city of Birmingham is quickly becoming the contender for Britain’s next top metropolitan city. Both The New York Times and New York Magazine recommended their readers to visit Birmingham instead of London” and a survey by PwC revealed that Birmingham was among the top 10 European cities for investment. Nobel Prize winner Malala Yousufzai even stated that “Birmingham is the heart of England”. With the United Kingdom’s second largest city in focus, we find out what factors makes Birmingham the next London.
1.The Ambitious Projects
The midlands city is currently working on redevelopment and regeneration programs in various sectors, most notably the real estate sector that will further boost the city’s already strengthened economy. Birmingham’s ‘Big City’ and development plan are bold expansion projects that will make it the world’s next city center and are due for completion by 2031. The project is set to create better city environment for its 4.3 million workers and residents. Furthermore, the city is also introducing enterprise and economic zones within various parts of the region, which will take advantage of Birmingham’s central location. By the year 2031, the city will be known as the next global, business and financial hub. UK developers SevenCapital, are taking advantage of the rise in Birmingham economy by introducing Albion House, a new phase of St.George’s Urban Village.
2. The Job Opportunities
Due to the new development plans and the introduction of business zones within the city, there is a possibility of around 50,000 new jobs for Birmingham residents by 2031. In addition to potential employment openings, Birmingham also created 10,000 more current career options with the headquarters of HSBC, Deutsche Bank, RBS and HS2 relocating to Birmingham. Not only will it create great employment prospects, but also be a short walking distance for most workers and residents living in Birmingham.
3. The City Views
London definitely has an impressive cityscape, but Birmingham has many features that make it a picturesque city as well. Tourists and visitors can enjoy the city views in various ways. With Birmingham having more canals than Venice, a boat can be one of the many options. In addition, it’s also called the greenest city of UK with over 8,000 acres of parks, green landscapes, and open spaces. So whether it’s just having a quick walk around the city square, or leisurely having a boat ride in their canals, residents will definitely feel more refreshed and rejuvenated living in this charming city.
4. The Crowd
Birmingham is no stranger to a diverse and multicultural community, with a third of its population belonging to ethnic minority groups. In addition to being rich in culture, Birmingham also happens to be the youngest city in the UK with 40% of its population being under the age of 25. This is mainly due to the five esteemed universities in the city boasting 73,000 students, with 10,000 of them being from the Middle East alone. Even with 34 million visitors a year, Birmingham residents are glad that they don’t get the same influx of tourists as the UK capital. The low number of tourists makes the city a lot less congested and crowded, while the transportation system and abundant city streets make it easier to move around the city.
5. The Expenses
According to BBC, in 2015 around 6,000 residents made the permanent move from London to Birmingham due to high daily expenses in the capital. A 2013 study revealed that the total cost of living in Birmingham is an astonishing 60% lower than living in London. With affordable housing, transportation, and even cheaper grocery and food options, Londoners made the obvious choice of moving to the midland city.
With such outstanding features and incredible factors, it’s no wonder that Birmingham is gaining global recognition, making it the next obvious foreign investment choice for residents and individuals all over the world.
UK developers SevenCapital and Dubai-based agency Driven Properties are presenting a unique opportunity of investing in Birmingham through their latest project, Albion House. This latest installment of St. George’s Urban Village which is located in this city’s most lively and vibrant area, The Jewellery Quarter. This sector is home to jewellery artisans, entrepreneurs and some of Birmingham’s most creative community.With a central location and incredible prices, Albion House proves itself to be the indisputable option for Dubai residents who would like to take advantage of Birmingham’s rising name in the international market.
Contact our international property specialist Daniel Whitlock for more information about Albion House and investing in Birmingham.