More great news for the County Cork office sector as fitness giant ‘Pelaton’ has decided to take up to 70,000 Sq Ft of office space in the city.
This adds to an already positive outlook for the area which is already home to the likes of Apple, Amazon and most recently Facebook, who have been looking to add to their existing portfolio in the city which currently houses Oculus VR, in order to accommodate a further 1,000 employees. This deal has been put on hold for now, but all signs are positive for Cork at the moment.
All these moves by big tech companies, which inevitably bring a large amount of employees along with them, will have an effect on the property market in the area. Currently, one bedroom properties in the city are going from between 1,000 – 1,500 euro per month. An influx in new employees and the deep pockets of their employers, would certainly contribute to an increase in house prices, particularly in the apartment sector.
Alternatively, commuter towns also show great potential for return on investment. Three or four bedroom houses in the likes of Ballincollig and Carrigtwohill are on the market for up to €1,700 per month. With prices for 3 Bedroom properties for sale in the area as low as €300K, a great opportunity may be coming into view.
Aside from the obvious potential financial gains from investing in a property in an area destined for price increases over the next few years, it is a wonderful opportunity to invest in a beautiful part of the country. What better excuse to get away for the weekend than to go ‘check on the investments’.. and while you’re there it would be rude not to let loose in the city – with all it has to offer – for at least a night or two.
As usual, you should not take any of this as financial advice. Always seek professional advice before making any financial decisions. If there is anything we here at KPM Group can help you with, please don’t hesitate to get in touch, and we’ll be happy to help in any way we can.