Sheffield is the fourth largest city in England and is also rated as one of the safest cities in the UK. It was famous for its steel industry in its early years. With the gradual decline of British industry, Sheffield has developed rapidly and has a leading position in the UK in the academic and advanced technology industries. Many multinational companies such as Boeing and Rolls-Royce have also settled here.

Sheffield has a total population of more than 520,000, with one-third of the population under the age of 30; 38% of the working population holds a bachelor's degree or above. The cumulative population ranks fourth among cities in the England. The city has two world-class universities with a total student population of more than 60,000. The total population of Sheffield is expected to increase by 13% to nearly 600,000 by 2025.

Sheffield has an advantageous geographical location and is well connected to other major cities in the UK. It takes only about two hours to get to London by train, and within an hour, you can reach the northern cities, including Manchester and Leeds. In the future, the proposed Northern Powerhouse Rail will connect the northern cities and speed up the flow of people between them. In addition, Sheffield's city centre is close to the M1 motorway, and it takes within 1 hour to drive to four airports.

In 2015, the Sheffield City Council proposed the "Heart of the City II" infrastructure plan. Various construction projects will be gradually completed in 2022, including more than 70,000 square feet of Grade A office buildings, attracting high-profile occupiers such as HSBC and two Swedish companies, fashion brands Monkl and Weekday. In addition, the city council has allocated more than £20 million to increase the greenery and public space in the city centre.

Overall residential property prices in Sheffield rose by 8.7% in 2021, on par with Manchester, due to the shortage of housing supply. Research consultants predict that during 2022—2026, residential property prices in Yorkshire and the Humber, where Sheffield is located, will increase by as much as 18.8%, more than three times the predicted price rise in London during the same period. The market also predicts that residential rents in Yorkshire and the Humber will increase by 15% during 2022-2026.