Belfast Key Facts

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Belfast

Not only does Belfast possess the workforce, transport and telecommunications links to build a strong base from which to serve European and world markets, it offers a sophisticated business environment.

  • Over 700,000 people live in the Belfast Metropolitan area
  • 46% of the population is under 30
  • Labour cost is 15% lower than the UK average
  • Labour turnover is less than 8%
  • 60% of young people attend university or college
  • The city has two first class universities – Queens University and the University of Ulster
  • Education standards in the city’s grammar and secondary schools are among the highest in the UK
  • A strong university research base and close linkages between university and commerce puts Belfast at the leading edge in world markets

Climate

Belfast’s climate is mild and temperate, with mild winters, very little snow and warm summers.

  • Sunniest months: May and June
  • Driest period: March to June
  • Average annual rainfall: 43 inches
  • Average temperature: 10º C (50º F)

Taxation

  • Corporation and personal taxation are amongst the lowest in Europe
  • Capital grants are not taxable – a unique position within the UK
  • Capital allowances are very generous for expenditure on plant and equipment including 100% in the first year for small and medium enterprises
  • Tax credits for research and development were introduced to stimulate scientific innovation for SMEs.

Property Market

  • Prime office rent £12.50 sq ft; warehouse rent £4 sq ft
  • Office rents significantly lower than other parts of the UK
  • Construction costs under £1,000 sq m
  • Investment yield 7% on capital
  • Multiple price commercial property available for immediate occupation