Once a classic coastal retreat, Torquay has transformed into a vibrant local economy backed by tech innovation, modern waterfront development, and strong lifestyle appeal. As the key commercial center of the English Riviera, it blends a rich tourism tradition with a growing reputation as a South Devon business hub. For investors looking to enter an expanding coastal property market, Torquay offers great relative value, steady rental demand, and strong long-term growth potential.
Torquay is currently experiencing high levels of economic growth, maintaining it’s status as the main economic hub for the English Riviera. As it’s main economic driver, Tourism in the coastal town generates thousands of jobs and attracts millions of visitors to the area each year.
Under the Torbay Destination Management Plan (2022–2030), adopted by Torbay Council and the English Riviera BID Company, the town is targeting a £75m increase in annual visitor spend and the creation of 1,500 new full-time jobs by 2027.
Complementing its tourism heritage, Torquay also boasts a thriving high-tech sector with globally recognized expertise in photonics and advanced microelectronics, positioning the town for resilient, multi-industry economic growth.
Torquay is undergoing a major urban transformation, driven by a £100m+ regeneration pipeline supported by the Torquay Town Investment Plan.
Delivered through public-private partnerships, the strategy focuses on revitalising the harbour, high street, and key town centre sites to create a modern, resilient coastal hub. Targeted waterfront enhancements, high-street redevelopments, and new luxury hotel and residential projects are reshaping the area.
Collectively, these investments aim to enhance local liveability, boost year-round footfall, and support long-term property market resilience across South Devon.
Torquay is seeing rising housing demand driven by its distinct coastal lifestyle appeal and relative affordability compared to London, the Home Counties, and broader Southwest hubs.
The town increasingly attracts remote workers, relocators, first-time buyers, and investors seeking better property value and space without sacrificing high quality of life.
With the local plan targeting around 8,900 new homes across Torbay through 2030, this controlled housing expansion is set to reinforce long-term rental demand and support sustained property market resilience.
Torquay offers strong regional and national connectivity, making it an exceptionally well-connected coastal base for residents, commuters, and visitors alike. Mainline rail services link the town directly to key regional hubs such as Exeter and Bristol, with fast Great Western Railway services reaching London Paddington in under three hours.
Road connectivity is equally convenient, with direct dual-carriageway access to the M5 motorway via the A380 South Devon Link Road. Additionally, Exeter Airport sits under an hour’s drive away, providing residents with easy access to both domestic and international flight destinations.
