Charleston SC real estate has rapidly gained a reputation for being one of the best property investment options for those who are looking for superior returns from either the rental market or for those who want to find fixer uppers in the hope of obtaining a quick return on their investment.
According to realtors the Charleston area has maintained it position as one of the top 10 real estate investment destinations in the United States and looks set to continue this stellar performance in the next 12 months.
The rental market is what is powering this strong showing from Charleston with strong economic growth underpinning the increased opportunities from investors looking to cash in on the flourishing rental market.
The majority of job growth in the area, according to market commentators is in the services industry – where jobs are relatively low paying. This is fueling rentals as many of those who are employed in this industry prefer to rent due to the fact that more stringent credit ratings by major financial institutions have made it increasingly difficult to obtain credit in order to purchase a property.
In addition rental income is increasingly attractive due the fact that rentals are growing at a steady pace.
There is also a trend towards investors purchasing single family homes which are them converted into spaces that can be rented out piecemeal. This sort of investment is suitable for those who want to take a longer term view of the investment opportunity. However, market pundits have stressed that the window for this sort of investment is closing rapidly due to increasing housing prices, so the time to make this sort of investment in Charleston may be closing rapidly. They warn that investing in this top 10 investment destination will benefit those who act now.