Global Investments Incorporated have been leading the way in the USA buy to let market for the past 4 years with over 3,500 sales and counting.
Detroit has been there biggest selling product to date accounting for more than 70% of sales, but the UK based company is now branching into St Louis where they believe that there new product will rival the Detroit stock and sales.
CEO Mike Moodie stated. “ Detroit has been fantastic for us over the past three years and we are expecting an ever bigger year in 2016 . We had a record sales month in January with more than a sale a day, however as a company we always need to be on the lookout for new stock and only last week we signed up an exclusive deal with the largest real estate company in St Louis to start marketing their properties. This product is like a dream for investors, with a low price point, huge rental demand and some of the lowest taxes seen in the US. Just looking at these three factors alone it makes for some high returning investment properties for our clients. As a company we are very excited about our new partnership and this product. “
According to the latest press release from Realty Today, Saint Louis has been named as the second hottest investment city in the US for 2016. St. Louis is a large city in Missouri, located in the east central part of the state on the Mississippi River. Saint Louis offers investors an incredible opportunity to buy undervalued properties in a very strong rental market.
Jonathan Smoke, the chief economist for Realtor.com states “Next year looks to be the best year St. Louis has had in quite some time, we’ve been seeing strong demand in St. Louis, and if anything, it’s starting to heat up even more.” Realtor.com predicts that single-family home sales in the St. Louis area will increase by 8.6 percent compared to 2015 — with median home sale prices up 10 percent.
Manufacturing is important to the city’s economy, and its highly developed industries include automobiles, aircraft and space technology, metal fabrication, beer, steelmaking, chemicals, food processing, storage and distribution.
The city is home to several major corporations including Express Scripts, Peabody Energy, Ameren, Ralcorp, and Sigma-Aldrich. As well as a large medical and research community. St. Louis has three professional sports teams: the St. Louis Cardinals of Major League Baseball, the St. Louis Blues of the National Hockey League, and the St. Louis Rams of the National Football League.
St. Louis has a population of 319,294, making it the 60th-most populous U.S. city and the second-largest city in the state in terms of city proper population. The St. Louis metropolitan area includes the city as well as nearby areas in Missouri and Illinois; with a population of 2,913,673, it is the largest in Missouri and one of the largest in the United States
St Louis Rental Vacancies remain at historically low levels and has one of the lowest vacancy rates in the whole of the US. A study recently released by the Urban Institute, revealed that “there is literally no affordable, non-subsidised housing available in St. Louis. St Louis rents have risen 18% since the real estate bubble burst”.
St Louis may not be as well-known as Detroit or Chicago but that is going to change in 2016. With prices starting from as low as $20,000 and returns as high as 30%.
