Property in the US
Home to over 300 million people, the United States is also home to the worlds largest economy, with an estimated gross domestic product in excess of $15 trillion annually. Covering a total of 1,900 million square acres, and streching from the Atlantic Ocean in the east, through to the Pacific Ocean in the west, the United States is today one of the worlds most culturally and ethnically diverse nations.
Despite being the world's largest economy, the global economic recession has seen the prices of property in the USA fall dramatically in recent years, resulting in record numbers of bank foreclosures and property repossessions. with the prices of property in the US falling upto 70% in places, this has created a significant opportunity for overseas investors seeking to buy property in the US for long term capital growth and rental income.
The nature of the US property market is also incredibly diverse, offering a wide range of opportunities for both lifestyle purchasers as well as more seasoned investors. In particular the market for property in Detroit and the surrounding areas has seen a resurgence in recent months, as investors seek to capitalise on the considerable levels of federal investment earmarked for the city following the collapse of its legendary automotive industry. With the prices of property in Detroit now sitting at approximately 60-70% below market value in 2007, the opportunity for capital appreciation when the corrections to the economy come to fruition is considerable.
With figures from the US Department of Housing and Urban Development now showing waiting lists of over 9,000 for people seeking accommodation, the property market is buoyed by increasing numbers of tenants utilising the government backed schemes. With rental yields now delivering in excess of 15-16%, and government backing providing additional security to your investment, there has not been a better time to invest in the US property market.
For clients seeking more lifestyle orientated purchases, the Florida property market offers a wealth of opportunities backed by a strong rental demand, both from within the US and overseas. The prices of property in Florida still offer considerable value, with luxury properties in Florida and the surrounding areas starting from as little as $95,000.00.
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Minock Street - 3 bedroom investment property in Detroit, US. £29,513Warrendale is one of Detroit’s largest and most diverse neighborhoods, bordering the suburbs of Dearborn and Dearborn Heights. This sharp looking 3 Bedroom Brick colonial on Montrose is in the exclusive part of Warrendale, bordering historic Rouge Park. Warren Ave, the namesake of the neighborhood running East/West, is lined with small businesses which add to the character of this culturally rich area. >> view detail
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Nottingham Street - 4 bedroom investment property in Detroit, US. £29,513Detroit’s Morningside neighborhood is home to one of the city’s largest and most organized neighborhood clubs. The Morningside Club, organized by the neighborhood’s resident’s work hard to keep the area well kept, giving the homes serious curb appeal. A prime example is this towering all brick, four bedroom Colonial. >> view detail
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Cortland Street - 4 bedroomed investment property in Detroit, US.£35,860This is a four bedroom, 3 bathroom mansion style property, with detached double garage. Property was built in 1929, is 2000 sq ft built with a plot size of 4791sqft. The value of the unit was estimated in 2007 at close to $150000. Russell Woods is one of the most well known neighborhoods in the city, with a rich cultural past. >> view detail
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