Manchester has been transforming into the North's hub for luxury living, often being labeled as the London of the North. With a long history of industrial heritage, the city is now attracting a large base of ambitious individuals, extensive developments, and global investments. According to a big player in the industry, Manchester's economy has a growth rate of 2.2% which is well ahead of the national average of 1.9% and the city has no plans to slow down any time soon. With more people moving to the northern powerhouse, penthouses in Manchester are becoming one of the most sought-after properties for luxury living.
We at Square Gardens have no questions why penthouse living in Manchester is now the way to go for many professionals. This page explores the trends that are driving penthouse demand in Manchester. A mix of lifestyle appeal and statistics will show why high-end apartments are more than just a luxury; they're a lifestyle.
What's Driving Penthouse Demand in Manchester?
With many of the top talent moving up to the city, the population growth can be linked directly to the rise in demand for prime apartments.
According to Manchester City Council, by 2026, the city's population is set to rise by 40,000 people and an additional 65,000 jobs within the city.
62% of the households in the city are privately rented, which is the highest proportion of any UK city, according to another big player in the industry.
73% of renters in Manchester report they are satisfied and happy with their accommodation.Penthouse living can offer so much more than just an apartment, with many buildings offering amenities like gyms, social spaces, events, and wellness centres.
For individuals wanting to rent, luxury Manchester penthouses offer an upgraded lifestyle choice, with skyline views, proximity to transport links, placed in the heart of the city, and 5-star amenities. It's no wonder that renters are choosing luxury penthouses in Manchester.
Comparing Property Prices and Penthouse Premiums
In recent years, the property market in Manchester has outperformed the UK average significantly. Looking at Manchester property trends in 2025, you can see why.
According to City Rise, flats in Manchester have increased 33% in value over the past 5 years, compared to the UK average of 15%.
That being said, the city still remains more affordable than the city of London. In 2025, the average property price in Manchester is £234,867, whereas in London it averages at £523,376.
The combination of Manchester's lower costs of renting and the economic growth the city is placing it above London and its extra costs of living. While London could still be regarded as the main location for luxury living, penthouses in Manchester offer a solid option for those seeking exclusivity within the city. They are a premium expense, but when compared to similar penthouses in London city centre, Manchester represents better value overall.
High-Profile Developments Boosting the Market
With economic growth comes the introduction of bigger businesses, luxury schemes, and the setting of new benchmarks for high-end living.
Upper Brook Street, a project that will take place on a brownfield site in the centre of the city that will hold state of the art laboritoires for R&D that will bring 2,000 jobs to the city in the initial phase, aiming to be complete in 2027. Global sports wear brand PUMA has reloaded their headquarters from London to Manchester. The £87m development was finished in July and will introduce jobs within a number of different industries. Virgin Media O2 is set to move up to Manchester at the end of this year, 2025. They will be bringing 1,500 of their employees and offering more jobs to residents of Manchester.This isn't just evidence of new developments coming to the city; it shows the reinforcement of Manchester's Global appeal, which attracts investors and residents. At Square Gardens, penthouses often have waitlists and are highly sought after, furthering the idea of luxury living becoming a staple within Manchester's culture.
The Role of Foreign Investment and Build-to-Rent Models
Working within a big industry often requires flexibility in where you're located; you need to be where it works best for your career. This can mean that relocation and mobility are a part of your life; that's why renting offers a great alternative to buying, so you can move where your career takes you when needed. The current international pull of Manchester further fuels the penthouse demand.
Around 21% of University of Manchester students are international. This includes around 10,000 from China, with many of these students and families opting for high-end city center apartments.Within the privately rented homes industry, built-to-rent apartments account for 1 in 5, which creates a pipeline of premium rental stock in Manchester.
In Salford specifically, which is one of the city's BTR hubs, the rent has increased by over 75% in the past decade. From £640 in 2015 to £1,121 in 2025.
Future Outlook for Luxury Apartments
Looking at the property trends for Manchester in 2025, the growth rate and economic stance are beyond positive. The increase in population explains why accommodation is now moving up, and it's not slowing down anytime soon.
The city-centre population is forecast to grow by between 40% between the years 2021 to 2026.
House prices are projected to rise 19.3% between 2024-2028. Rent prices are set to increase by 21.7% within the same period.According to a big player within the industry, in 2023, they ranked the city of Manchester as the number one property investment location in England.
For those who are ready to move into the ever-growing industry of high-end apartments in Manchester, discover Square Gardens and learn what all the hype is about. Our luxury penthouses put you above it all; you get location, amenities, community, wellness, and so much more. Get in touch today and arrange a viewing with a member of our helpful team.
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