When people think about places that have transformed unbelievably in the past two decades, Southern coast of Cornwall is amongst the top. Nobody had ever imagined that it would take such a dramatic twist. A place with mediocre public facilities and infrastructure in the last decade of the 20th century where unemployment rates were as high as 12 percent; today a buzzing place with high-class apartments and row houses. Every year, thousands of people rush there from everywhere in the UK, looking for properties of their dreams. Rates have reached phenomenal heights, and the trend looks to continue further. Today, outsiders moving to Cornwall are not retired people who want to spend the rest of life leisurely, but working professionals and successful entrepreneurs.
The amazing journey of Cornwall
If you check with any of the property dealers in the town, then the average price of a reasonable house is in the range of 200,000 GBP to 300,000 GBP. Experts say it is quite expensive as compared to other areas in the country. As people from other places move there to buy houses and apartments for weekend homes, the rates reach incredible heights quite obviously.
As the infrastructure improves further, better transport facilities are available; more inflow is expected. Growth in telecom facilities has also given a boost to the realty sector. As better connectivity is available, people don’t feel like staying in a remote place. It is the reason; they prefer a second home in Cornwall and not in London. In fact, London is the second home for some people. They spend the most of the time here, connecting their business or office remotely.
A place that earns the distinction of becoming a high-end heaven from an underachiever is a brilliant example of how infrastructure development could change the fate of a place. The most high-valued properties are spread along the sailing ports and beaches of the “Cornish Riviera”. Property geeks say that South Cornwall is the synonym of sailing. Therefore, it has to be the first choice for e buying a second home. One doesn’t want to travel a distance to reach the best beaches, moorings, and Yacht Clubs.
Popular attractions in Cornwall
- Flushing: A small and calm waterside village offers incredible properties with huge open space around. It is in the vicinity of the best Yacht Clubs. The surroundings are simply awesome, and you spend the best time over there.
- Helford: It is called the best summer retreat for those who love to spend leisure time on the pristine beaches. It also offers excellent yachting opportunity. Stunningly beautiful river views and proximity to the marine make it an ideal place for the second home. The place brings a great opportunity of enjoying the beauty of nature which is relatively scarce in the North Cornwall.
Properties that attract maximum eyeballs are spread across the southern coast. The majority of high-end buyers look investment opportunities there. It is needless to say that the rates are phenomenal in the area. As more boutique hotels and resorts mark their presence along the coast, it is certain that the rates will gain further momentum.
(Photo credit : Wikipedia)
Large houses are more liked by buyers
Studies say that people who search for properties in Cornwall prefer big houses. Tree-bedroom, four-bedroom and Five-bedroom apartments and independent houses are at the top of the list. Properties with scenic views or proximity to beaches and Yacht Clubs are sold at incredible rates.
Though it is a little cumbersome to drive Cornwall from London today, the situation will change very shortly looking at the pace of infrastructure development. As the time required to reach Cornwall will reduce, property rates will shoot up further.
In spite of inferior connectivity, there are several permanent residents in the Southern part of Cornwall. It is contrary to the belief that it is predominantly a ‘second home destination’.
Economic slowdown in the recent years slowed down the pace
After 2000, there has been a significant improvement in Cornwall area and property dealers expected a huge growth. It was quite prominent for a decade, but the momentum disappeared after 2010 when a major recession hit the UK.
As the economy went through a pathetic shape, people postponed their plans of creating a second home in a place such as Cornwall. It was a massive hit for the local property market. There was a situation when property rates were significantly lower than the rates of 2007 when the market was booming. No wonder, the market became stagnant, and nobody wanted to pour money into the realty business. Even the big-budget buyers also didn’t dare to step-in.
The realty sector of southern coast also saw a time when property owners sold up their properties at incredibly low rates impatiently. There were scholars, lawyers and business owners who took such hasty decision. Astonishingly, most of the properties that got sold during that period were situated on the southern coast which is more prolific and promising area today as compared to the Northern Coast. Today, buyers are ready to pay premium prices today because they know the immense potential of Cornwall.
Real estate websites play a crucial role in popularizing Cornwall
In the modern world, it is impossible to ignore websites when you deal with real estate. They not only bring comprehensive information about the properties but also help in making the deal successful. Buyers get every bit of the information they are looking for. Apart from property related information, you get valuable tips about the best timing and opportunities.
Property magazines rate Cornwall the right place for real estate investment. Whether you buy land, home, resort or apartment; the value is going to increase manifold. The future is certainly exciting. Properties are really valuable; they are not glorified by property owners or real estate agents.
One should look at the salient aspects before signing the deal. Since property rates are premium, it is better to be skeptical instead of a hasty buyer. Cornwall is the destination of tomorrow for sure!