Charlotte Real Estate Market is One to Watch
PwC and the Urban Land Institute report that Charlotte is the 3rd most attractive real estate market nationwide for 2016 in the groups’ annual Emerging Trends survey. The metro’s booming population, growing economy and strong construction sector are behind the high ranking. The city moved up four places, from 7th last year.
Real estate professionals and investors ranked Charlotte’s market behind only Dallas/Fort Worth and Austin as an attractive real estate prospect. Charlotte ranked above traditional rivals in the Southeast, including Atlanta (No. 5), Nashville (No. 7), Raleigh/Durham (No. 11) and Charleston (No. 25).
Good job and population growth along with the development of urban centers continues to make the market attractive to residents. Interviewees ranked housing as the Charlotte market’s strongest sector for 2016, followed by industrial development and hotels.
You can see the flood of money flowing into Charlotte across the city: New office towers being built in uptown, SouthPark and Ballantyne, more than 12,300 apartments under construction and new hotel projects kicking off uptown and in SouthPark.
Respondents to the survey advised investors to seek out thriving secondary markets instead of the biggest markets in order to find more value in investments: These secondary markets (think Austin, Portland, Nashville, Charlotte, and similar cities) boast lower costs of living—particularly in housing—and strong growth potential.