Investing in real estate can be one of the wiser financial decisions you can make. And no matter where you are, the rules are always the same. You want the biggest bang to your buck, the best return on your investment that you can get. And that means keeping a couple of things in mind.
Places that have a large population growth, or that have seen an increase in employment are great candidates. Cities that have seen an increase in home values will also really make your investments worthwhile. Finally, some cities have generally high rent costs and standards of living.
Keeping all of the above in mind, here are the best cities for real estate investment, for 2018.
1. Seattle, Washington, USA
The first of our list, this city has seen a very strong increase in the labor market and substantial improvements in their economy. It has also been growing steadily for years, and housing prices have gone up substantially. If you can afford it, Seattle will show you an incredible return on your investment in just a very short time.
Famous for its music, culture and just general feel and history, Seattle is the best place you can invest in. The only issue would be the price, but if you can, you certainly won’t regret it.
2. Houston, Texas, USA
Houston is now the home of a big section of America’s oil money. This means it’s the place to be if you want to invest. It has a very stable market that is home to some of the biggest companies in the world, as well as having the biggest medical center in the world. And yet, while certainly not cheap, is not as expensive as one would think. The actual price of homes in Houston is by a fifth lower than the American average.
Furthermore, just like Seattle, it has seen a steady population increase, with solid employment rates. No matter if you’re a beginner investor, or someone more experienced, Houston is always a safe bet.
3. Sydney, Australia
Sydney has an incredibly powerful infrastructure that been growing year by year. In fact, the Badgerys Creek Airport, as well as the relatively recent overhauls of its university and hospitals make it a prime real estate investment option. Furthermore, employment rates and population density has been increasing more and more, and the vacancy rate is pretty high for such a metropolis (1.6%).
If you’re not from Australia and you are worried about some of the details, you should inform yourself as much as possible. Getting a proper tax depreciation report drawn up can also be a blessing, as is just asking a realtor for some advice.
4. Cleveland, Ohio, USA
Cleveland is one of the strongest economic regions in America. With seeing an insane population increase of 32% in the late nineties, this increase is still somewhat there. In fact, in the last couple of years, there was an increase of over 100% regarding young people with professional degrees. And it’s just a matter of time since the market truly booms thanks to all the young professionals there.
Furthermore, it has one of the largest theaters districts in the United States and is home to several popular American sports teams. All this draws in more people and more money.
5. Brisbane, Australia
Having a very strong interstate migration line, as well as low vacancy rates, make it an excellent choice if you’re going to invest in Australia. But what is a real draw for beginner investors is the relative affordability. If you’re a bit worried, but still want to make a sound investment, this the way to go. While you may not get as much money as you could with other cities on this list, its actually a relatively affordable investment. This is made all the better thanks to the recorded wage growth and low employment numbers.
6. Pittsburgh, Pennsylvania, USA
Pittsburgh has a thriving and varied economy, getting money for healthcare, robotics, glass, education… The whole surrounding region lives on oil and natural gas and is home to one of the largest banks in the United States. You will notice large swaths of redevelopment, as well as an increase in rent. Finally, thanks to the growth of its STEM sector, an even greater rise in employment and money influx is expected, quite soon too.
With some naming it the top city you should relocate to, the “City of Bridges” really deserved a spot on our list.
There you have it folks, the top 6 cities where you should get some real estate. Investing in real estate is always a smart choice, and will give you a steady income for years to come. And best of all, if you want to, you can always sell. While you don’t have to limit yourself to just these choices, now that you definitely go wrong with choosing any of them.