Windy city ‘blowing hot’ for investors
With the average value of a property in Chicago costing a third of the price of a similar property in New York, RDM Development, leading luxury developers in Chicago, tips the ‘windy city’ to overtake east Coast cities, such as New York and Boston, in popularity. It reveals that property prices in prime locations will outstrip the national average, as they are estimated to increase by 25% in the next three years.
In addition to healthy capital growth, investors can benefit from excellent rental yields and a growing population of almost 3 million people in the City Limits, almost 10 million in the metropolitan area and over 44 million visitors a year boosts rental demand.
Excellent investment opportunities
Despite the challenging national market conditions in the USA, the business, financial and cultural capital of the Midwest is expected to continue to perform well due to its high level of diversification, and was recently ranked the 4th most important business center in the world by the Mastercard Worldwide Centers of Commerce Index.
Located between the Great Lakes and the Mississippi River along the shores of
Matt Garrison, Managing Director of Garrison Group, comments: “There are some excellent investment opportunities for international investors, despite the property market in many areas of the States stagnating.