Pockets of the US property market currently present some very attractive investment opportunities, according to Martin Sadler, operations director at London-based Qualitas Property International. Here, he gives readers his views on where to invest. Views are the author's but this publication is grateful for permission to publish them.
Below are our top five picks of the very best places right now to invest in the US. Prices today in the US are up to 70 per cent under their peak values before the market crash in 2006. With signs of recovery already being reported, (house prices have again showed their second year-on-year increase) prices will continue to steadily increase making this a unique window of opportunity to invest in the US if you can find the right deal.
With a growing population of young professionals and over 5.5 million residents, the greater Atlanta area has been the fastest-growing metropolitan market in the US for the past decade. It has a rapidly growing economy and tax-efficient policies which make this area one of the healthiest residential and investment markets in the States.
Forbes magazine ranks Atlanta as the number one home market in the US and ranked Atlanta as the number one rental market in the country. As the capital city of the State of Georgia, Atlanta is the travel and business hub of the southeast region of the States and boasts some of the strongest economic indicators for substantial short-term cash flow and long-term potential capital growth.
Top pick: In Atlanta we can buy a four-bedroom house built in 2006 for $90,000, renovated and with tenants in place and achieve an annual rental income of over $12,000.
2. Cape Coral
Cape Coral, a city in Florida which consistently ranks in the top ten places to open a business and CNN called it the fifth fastest-growing US city in the past decade. The land in Cape Coral is currently up to 75 per cent under its peak values since 2006, meaning that once construction starts, land values in desirable areas will increase dramatically. Land in Cape Coral has the potential to at the very least double in value in the next three to five years, making it a sound investment.
Top pick: Cape Coral - Land investment focus: we can currently purchase a 10,000sq.ft land plot with full planning permission to build a 3-4 bedroom home for just $15,000. This same plot would have sold for $90,000 back in 2006.