Belfast is the largest city in Northern Ireland. It is also the capital. The city has a population of roughly 343,000. Greater Belfast has an estimated population of 570,000.
Here are some key reasons why Belfast is good for property investors.
Belfast used to be a central industrial hub for shipbuilding and linen manufacturing. In fact, the city’s shipyards were the birthplace of the RMS Titanic. The famous Samson and Goliath cranes are an integral part of the Belfast skyline.
Nowadays, Belfast’s economy is propelled by the following industries:
- Advanced engineering
- Creative and digital
- Financial and professional
- Hospitality and tourism
- Life and health sciences
In addition, Belfast Harbour stands at the country’s foremost maritime gateway. This industry serves both the Northern and Southern Irish economies.
While the Troubles affected the economy in the past, the city now benefits from incredible growth. This continues to enhance the property sector.
Excellent Transport Links
Belfast boasts decent transport links to the rest of the country and Europe. For instance, three motorways connect the city to other Northern Irish areas.
The Translink railways allow easy travel to Londonderry, Bangor, Newry and other places. Meanwhile, the Enterprise links Belfast to Dublin.
The George Best City Airport is near the city centre, while Belfast International Airport is also in the area.
The city also connects to Cairnryan, the Isle of Man and Birkenhead via a ferry service.
Belfast has undergone many regeneration developments in the last twenty years. This effort has bolstered its economic – and buy-to-let – eligibility.
Some of these developments include:
- Victoria Square
- The Titanic Quarter
- The Laganside
- The Cathedral Quarter
Tourism has become an important part of the Belfast economy. Many tourists use the city as a base to go to other parts of the city. As such, an Airbnb investment property could be a lucrative property type to take advantage of this market.
Belfast welcomes an estimated 9.5 million tourists every year, who spend over £417 million. This sector has created 22,000 jobs in the city.
Top tourist attractions include:
- The Titanic Belfast
- The Titanic Slipways,
- Belfast Zoo
- The Botanic Gardens
- Belfast Castle
- Crumlin Road Gaol
- The Ulster Museum
- The Stormont Estate
- The Linen Quarter
Belfast has a considerable student demographic. Over 50,000 students go to Queen’s University Belfast and Ulster University.
Want to take a chance on a student rental property?
Check out the following areas:
- Lisburn Road,
- Ormeau Road,
- The Holyland,
- Botanic Avenue,
- Stranmillis Road.
These areas are popular with students due to their proximity to campuses.