Comparing figures from 2010, Trulia’s 2012 Detroit Real Estate Overview has showed that there has been an increase in US property investment in Detroit with a 3.3% or $2,215 rise in the sale prices on median properties between October and December 2011.
The report showed that despite the fact that the typical price per square foot remained at $67, median sales prices for houses in the city stretch to $68,962, demonstrating that Detroit’s housing market is once again showing signs of growth.
Property experts at Fiserv Case-Shiller stated that since reaching its peak in 2006, Detroit has seen property values decrease by 60.5%, however a rising number of short sales over foreclosures have helped drive the median price up in the city’s metro area.
For those looking to enter US property investment, Detroit is featured in Bloomberg Businessweek’s forecast for America’s Strongest Housing Markets in 2014, with the company stating that prices are set to increase by 33.1% in the next 2 years alone.
According to Colliers International, 28% of America’s residential mortgages were underwater in 2011 and with the vast majority reluctant to sell, a demand for rental property has been created. Unachievable mortgage deposits alongside the country’s economic uncertainty have contributed to the success of Detroit’s rental market, with a number of people deciding to lease rather than buy.
These economic issues have contributed to an increasing number of what MSN Real Estate refers as emerging investors from the UK, UAE, Russia, Asia, Ireland and France.
With typical houses starting from just $30,000, most properties offer yields in excess of 20%, making Detroit one of America’s strongest and most attractive rental markets.
Answering to the demand from the increasing amount of international investors purchasing pre-tenanted property, a new website, US Property Investment, has been launched to help connect investors with their perfect real estate investment.
Experienced within the market, the company behind US Property Investment refurbishes and renovates all properties before ensuring that tenants are already in place. These steps help to ensure that investors receive income from day one.
For those looking for below market property investment, the company offers the highest yields and the lowest house prices due to the trusted relationship they have developed with their partners who are based in America.
With maintenance and occupants looked after by a professional management company, the website promotes a truly ‘hands-off’ investment and also offers 50% finance and cash discounts on selected properties.
For those looking to enter a US Property Investment, the new interactive website potential buyers to search current stock and learn more about the areas in which they will be purchasing.. This article, New US Property Investment Website Launched in light of rising Detroit property prices has free reprint rights.
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