New York City, San Francisco and Los Angeles consistently rank as some of the hottest luxury real estate markets. For savvy investors, however, securing stylish properties in other dynamic, promising locations could be the way to go. For 2018, take a closer look at smaller cities known for their tech-savvy workforce and high quality of life.
Seattle tops the charts.
Seattle, Washington, boasts some of the nation’s strongest employers, which attract well-educated, skilled workers. Combined with an outdoor-friendly lifestyle, culinary attractions, a bustling independent brewery scene and a progressive atmosphere, you have all the makings of an exceptional real estate locale.
The South is heating up.
If you’re interested in investment and possibly renting out a second home, set your sights on the South. Birmingham, Alabama, and Oklahoma City are just a couple of the places that average impressive returns on rental properties. In Texas, two cities cracked the top five markets for investment and development in a recent industry report: Austin was No. 2 and Dallas-Fort Worth was No. 5.
Secondary cities are on the rise.
The regional jewels defined as secondary markets are attracting a lot of attention thanks to a winning combination of young, affluent workers, healthy economies and relatively affordable housing. For example, Fort Lauderdale, Nashville and Salt Lake City are all enjoying renewed interest according to industry trends and outlooks for 2018.
Whether you’re seeking a getaway spot for friends and family or an investment property to add to your portfolio, take another look at secondary markets this year.