In late January, 15 members of the Forbes Real Estate Council released their opinions on the hottest real estate markets of 2019. Most of their predictions concentrated on city characteristics or zones most likely to experience growth in the coming year, while others were broad references to an entire region. A few, however, named specific cities. Ranking from #11 to #5 on the list, here are the 6 locations predicted to experience real estate investment market growth in 2019.
Texas cities like Dallas and Arlington are showing excellent job growth which is great news for commercial investors. Statistically speaking, the real estate growth is strongest where the job growth is strongest says Tom Burns of Presario Ventures.
A massive influx in business has earned Colorado the title of one of the fastest-growing states in the U.S. Investors stand to benefit from the lower home pricing and office lease rates coupled with the high income funneling down through the tech and startup companies that have chosen Colorado as home base.
Nashville, Reno, and Portland
Brew Johnson of PeerStreet identified these particular cities as having a lot to offer for crowds looking to escape extreme high-costs found in many other metro locations. They each offer their own lifestyle brand which aids in attracting various groups to their boundaries on a regular basis. They are more unique and less expensive than the cities of the past which means investors can expect some exciting trends.
Manhattan and The Hamptons
Demand is responsible for an increasingly positive market performance in these New York locations. As the financial elite continue their search for private real estate in the city’s trendiest neighborhoods and The Hamptons maintain their allure as an exclusive, expensive community, these New York markets will remain attractive to investors in the coming year.
Charlotte, North Carolina
Corporate relocation has placed Charlotte, North Carolina on the real estate market map recently and it shows no signs of slowing down. Rent growth is predicted to continue thanks to a vast job market and a “favorable supply and demand environment.” The city is known for attracting a skilled workforce and allowing for affordable, quality living.
Los Angeles, California
Experts predict that Los Angeles, or LA as it’s commonly known, will continue to be an attractive market to both residential and commercial buyers thanks to its designation as a business hub and popular vacation destination. Short term rentals are trending in this area and it should come as no surprise that the LA market, which performed relatively well in 2018, should continue to grow in 2019.
The city of Atlanta has been reaping the benefits of the gentrification process in many areas. The culture and opportunities are rich and the cost of living has remained relatively low when compared to other metropolis areas. This year’s Super Bowl host city is a great spot for “investors to win some strong equity gains” according to Ali Jamal of Stablegold Hospitality, LLC.