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IS THE SUN SETTING ON THE CLEVELAND PROPERTY MARKET

As a company we have been selling investment properties in Cleveland Ohio for the past three years and it is by far our best selling product, accounting for over 70% for the companies sales and enquires from investors all over the Globe. However recently we have seen an upside in the prices and also a shortage of inventory indicating that with a large demand for these types of houses from the overseas market, sellers and suppliers have an opportunity to increase their prices. Also with the amount of overseas and domestic investors snapping up these types of properties we are also finding it harder to locate good inventory that meets our investors criteria. Unfortunately for potential or current investors looking at investing in Cleveland it looks like the clock is ticking. Prices are on the rise and the supply of these types of turnkey homes is down and finding good tenanted or renovated properties in good neighbourhoods is getting tougher. If you are looking at buying a house in Cleveland as a potential investment opportunity, in our opinion you must act now or certainly in the next 3-6 months to capitalise on these prices and returns while they are still around. All indicators point to growing income, a solid job market, and increasing home values in Ohio. The Cleveland real estate market prediction is incredibly positive. Investors and home buyers will reap benefits when considering the city and its suburbs over the next 5 – 10 years hence the huge demand for these types of properties now. Cleveland is home to just under 400,000 people. The larger metropolitan area is home to roughly two million people. That makes the Cleveland real estate market the 32nd largest in the country. If you include the Cleveland-Akron-Canton metro area there are three and a half million people in the “combined statistical area”, making it the 15th largest metropolitan area in the United States. This century old city was once a major manufacturing centre and now has reinvented itself as a medical and bio-med hub. “ We have been expecting this rise in prices and reduced supply for some time now. Very similar to what happened in Detroit 5-6 years ago. Cleveland is still an incredible opportunity for both the overseas and the domestic buyer but any client looking at getting involved needs to look at higher prices for these types of houses. The prices cant stay the same with such demand, lack of supply and huge investment into the city. These price increases were inevitable. “ I still think as a company we have another 12 months in the city before prices get too high. I think for a good, well located single family home any client should be looking at spending around $50k to $60k and for a well located Duplex they will need to look at between $60k and $80k. “ Mike Moodie CEO Global Investments Incorporated Although prices are on the rise Cleveland Ohio still offers an incredible opportunity for any cash buyer to get well priced tenanted houses with great cash on cash returns and good appreciation over the coming 5-10 years. If you would like more information on our Cleveland Ohio Investments or have any general questions on the US market place and what opportunities are available please contact any of the team at Global at invest@globalinvestmentsincorporated.com

Regardless if you are RED OR BLUE… Property Prices are on the Rise in cities like Cleveland and St. Louis

Based on new data from Redfin, the median U.S. home price in blue counties nationwide rose 13.1% from the previous year to $346,000, during the four weeks ending September 6, 2020. Prices rose 11.5% to $259,500 in swing counties, and they were up 10.6% to $209,000 in red counties. “Homeowners are benefiting from a strong housing market even during this deep recession,” said Redfin chief economist Daryl Fairweather. “Home values are up, which is great financial news if you’re a homeowner, regardless of your politics.” “But rising prices and tight supply mean it’s a tough landscape for first-time homebuyers,” Fairweather continued. “Many of them have long been priced out of urban blue counties and are searching in suburban swing counties and more rural areas. This trend is being exacerbated by the pandemic-driven work-from-home culture, which is causing many homebuyers to place more emphasis on indoor and outdoor space and less on commute times.” For this analysis, counties were classified as “blue” if the 2016 Democratic presidential candidate won by more than 10 percentage points, and classified as “red” if the 2016 Republican candidate won by more than 10 percentage points. Counties were classified as “swing” if neither candidate received more than 55% of all votes. Housing supply is tightening most and homes are selling fastest in swing counties, but blue and red counties aren’t far behind The total number of homes actively listed for sale was way down from a year earlier in all areas, with supply tightening the most in swing counties. Total housing supply dropped nearly 35% year over year in swing counties in the four weeks ending September 6, compared with a 32% dip in red counties and a 22.2% decline in blue counties. “Supply is dropping the most in swing counties because they tend to be made up of suburban neighbourhoods, where there are far more homebuyers than sellers right now,” Fairweather said. New listings were up most in blue counties (12.4% year over year) in the four weeks ending September 6, while they were up 7.1% in swing counties and 3.8% in red counties. Pent-up selling demand is one reason why new listings rose most in blue counties in August: New listings for homes in blue areas plummeted to a low of -47% year over year in the four weeks ending April 26, bigger than the 36% dip for red areas and the 43% decline for swing counties. Additionally, homes sold fastest in swing counties, with 43.5% of homes going under contract within two weeks during the four weeks ending September 6, versus 39.6% for blue counties and 35.3% for red counties. The typical home that sold during those four weeks went under contract in 43 days in blue counties, 44 days in swing counties and 62 days in red counties. Sales were up most in red counties, but pending sales were up more in swing and blue counties The number of homes sold in the four weeks ending September 6 rose most in red counties (15.9% year over year), compared with an 11.6% increase in swing counties and an 11% increase in blue counties. Sales in blue counties were hit hardest at the beginning of the coronavirus pandemic, down 34.8% year over year in the four weeks ending May 31 versus a 30.9% decline in swing counties and a 23.7% decline for red counties. Pending home sales rose most in swing counties, with a 29.6% year-over-year increase in the four weeks ending September 6, trailed closely by a 29% increase for blue counties. Pending sales were up 26.2% in red counties. The fact that pending sales are up more in swing and blue counties reflects the fact that sales in those areas took a bigger hit at the beginning of the pandemic and thus have more room to grow. The first 2020 Presidential debate in Cleveland The Health Education Campus of Case Western Reserve University and Cleveland Clinic hosted the first presidential debate on Tuesday, September 29, in its Sheila and Eric Samson Pavilion. This year’s event will mark Case Western Reserve’s second engagement with the Commission on Presidential Debates; in 2004 the university hosted the Vice Presidential debate between Dick Cheney and John Edwards in the Veale Convocation Recreation and Athletic Center. About 43.6 million people watched the October 5 discussion; viewing projections for this year’s event exceeded 100 million. So is Ohio considered a swing state ? Polling indicates that Ohio has turned into battleground territory for the 2020 election, it has a history on its side in establishing itself as not just a battleground, but a must-win state to achieve victory in the presidential campaign. All of the above information is backed up by the facts and statistics regarding the increase in property prices and the decline in homes available for sale in the Cleveland district. Charts supplied in this blog courtesy of Redfin, outline this based on the sales of 2020. The message is clear, now is the time to purchase in Cleveland Ohio before the prices increase to such that the net returns are no longer what they used to be. Global Investments saw the same during the Detroit boom five years ago. If you have been looking to purchase in Cleveland but still sitting on the fence do not be the person who stated “ I should have bought five years ago “

Demand and prices surge in Cleveland for turnkey investments

Cleveland Ohio is located on the southern shore of Lake Erie, about 60 miles west of the Pennsylvania border. Downtown Cleveland has experienced a renaissance over the past 5-10 years with an estimated 25 Billion in development completed or planned since 2010. Occupancy rates are at an astonishing 98% and home sales are up 12% year after year making this market a dream for the overseas or domestic investor. Great house prices and fantastic cash on cash returns with a huge potential for growth given the huge investment getting pumped into the city via companies like Amazon, Ford and individual investment from the likes of Dan Gilbert who helped rebuild Detroit. The big question now is how long can prices availability and returns like this last ? Unfortunately for potential or current investors looking at investing in Cleveland it looks like the clock is ticking. Prices are on the rise and the supply of these types of turnkey homes is down and finding good tenanted or renovated properties in good neighbourhoods is getting tougher. As a company Global Investments Incorporated have been selling in Cleveland for the past 3 years and have sold over 1000 houses in the city. Good Single Family tenanted properties have been sold in and around the 35-45k mark and for a good Duplex an investor would look to pay around the 50-55k mark. Due to huge Demand and a lack of supply the prices are slowly creeping up. “ We have been expecting this for some time now. Very similar to what happened in Detroit 3-4 years ago. Cleveland is still an incredible opportunity for both the overseas and the domestic buyer but any client looking at getting involved needs to look at higher prices for these types of houses. The prices cant stay the same with such demand, lack of supply and huge investment into the city. These price increases were inevitable. I still think as a company we have another 12 months in the city before prices get too high. I think for a good, well located single family home any client should be looking at spending around $45k to $55k and for a well located Duplex they will need to look at between $60k and $80k. “ Mike Moodie CEO Global Investments Incorporated Although prices are on the rise Cleveland Ohio still offers an incredible opportunity for any cash buyer to get well priced tenanted houses with great cash on cash returns and good appreciation over the coming 5-10 years. If you would like more information on our Cleveland Ohio Investments or have any general questions on the US market place and what opportunities are available please contact any of the team at Global at invest@globalinvestmentsincorporated.com

121 Larchmere Cleveland

CLEVELAND, Ohio — Officials and developers on Tuesday broke ground on a $23 million, four-story apartment building in Cleveland’s Larchmere neighbourhood set to open next spring. The building, dubbed 121 Larchmere, will be perched at the corner of Larchmere Boulevard and East 121st Street at the western end of the East Side commercial strip, known for its array of antique shops and restaurants. The plans include 88 market-rate studio and one-bedroom apartments and the hope is to attract more people to an area of the city that continues to develop. The building will have more than 64,000 square feet for apartments and about 6,300 square feet for a first-floor office. The project is developed by First Interstate Properties of Lyndhurst, which also built Legacy Village, Steelyard Commons and the One University Circle high-rise apartment building. An affiliate of First Interstate bought the property in March for $950,000, Cuyahoga County property records show. The land was previously home to a Pick n Pay supermarket and later housed the Life Skills Center of Northeast Ohio charter school. The company on Tuesday held a “virtual groundbreaking” for the project because of the coronavirus pandemic. Still, about two dozen people were present at the site to commemorate the project, including many from the company and City Councilman Blaine Griffin. The rest watched via livestream on YouTube. “We hope that 121 Larchmere will really serve to enhance the neighbourhood, bring residents to the neighbourhood, bring new business to the neighbourhood and continue the renaissance that’s happening in this neighbourhood,” First Interstate President Mitchell Schneider said at the groundbreaking. Development associate Tony Smith said Wednesday that the company already has a tenant for the first-floor office space but declined to name it. City Council in March approved tax incentives for the project, which will give First Interstate 30 years of tax-increment financing, a mechanism that allows revenue from future taxes on the property to be used to pay for its improvements. Griffin said at the groundbreaking that there was a proposal to put a dollar store on the location. Slowing the proliferation of such stores has been an interest of the councilman, and he said residents intervened and paved the way for the new apartment building. 121 Larchmerer is very close to Buckeye Shaker, Buckeye Shaker and the surrounding neighbourhoods like Woodland Hills and Mt Pleasant are one of the most popular areas in which Global Investments have sold many properties over the years. Buckeye Shaker is only minutes from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and is full of restaurants, bars, boutiques and of course the Cinema. It is good to see continued new property developments in this area which continues to attract investors and business, great for capital appreciation. If you would like to know which properties Global Investments have in this location for sale today please visit www.globalinvestmentsincorporated.com or email invest@globalinvestmentsincorporated.com

Why invest in Cleveland

EMPLOYMENT Cleveland is home to many Fortune 500 companies and established organisations that offer secure employment opportunities for its residents. From Cleveland Clinic and University Hospitals to Amazon, KeyBank, Goodyear, Sherwin-Williams and many more, these stable employers provide jobs for much of the greater Cleveland area, as well as ensuring regular new arrivals to the region. CULTURE & GREEN SPACES A mid-size city, Cleveland offers a thriving hub of activities for its residents enjoyment. Landmark cultural institutions like the Cleveland Orchestra, thriving restaurant and nightlife scenes sit along side vast networks of public parks, including national parkland, that offer beaches, biking/hiking trails, playgrounds and more. These community amenities are enjoyed by Clevelanders all year long. TRANSPORTATION The residents of Cleveland and the surrounding areas have the benefit of a large and accessible network of highways. The main north-south and east-west arteries link with smaller connections in strategic areas, making it a breeze for residents to travel around the region. This system keeps traffic levels lower, minimising commute times and stand still rush hours. Cleveland is also supported by bus routes and bike lanes in key areas to make commuting without a car possible. LOCAL DEVELOPMENT Both in Cleveland itself and the surrounding areas, a strong emphasis is placed on local development. City governments and residents alike keep an eye on the future of the area by nurturing new businesses, revitalising unused areas and investing in current infrastructure. Projects such as renovating a lake front park in Cleveland and a new waterfront development in the suburb of Euclid showcase the ideals of the region and present the enormous increase of in value for anyone investing in local real estate. Global Investments has been helping investors grow their rental portfolios in Cleveland for years. We have a thorough understanding of Cleveland neighbourhoods and suburbs and what kind of investments they’re best suited for. And we have the experience to identify great opportunities for our clients. Want to learn more about how we can help build your portfolio?

The Cleveland Clinic, things you didn’t know and how the brand is putting Cleveland on the Global map.

Located in Cleveland, Ohio, Cleveland Clinic is a nonprofit, multi-specialty academic medical centre that integrates clinical and hospital care with research and education. Today, with nearly 1,300 beds on Cleveland Clinic main campus and 6,026 beds system-wide, Cleveland Clinic provides safer care for more people in more places than ever before. Owned and operated by the Cleveland Clinic Foundation, an Ohio nonprofit corporation established in 1921, it runs a 170 acre campus in Cleveland, as well as 11 regional hospitals and 19 family health centres in northeast Ohio, and hospitals in Florida and Nevada. Outside the United States, Cleveland Clinic also operates the Cleveland Clinic Abu Dhabi hospital and a sports medicine clinic in Toronto. Cleveland Clinic is consistently ranked as one of the best hospitals in the United States. In 2018-2019, the U.S. News & World Report ranked Cleveland Clinic as the number 2 hospital in the Best Hospitals Honor Roll, as it was nationally ranked in 14 adult and 10 paediatric specialties. Cleveland Clinic’s cardiology program has ranked No. 1 in the nation since 1995. Cleveland Clinic patents & innovation : Cleveland Clinic, the renowned hospital and medical research centre is also entering the venture capital business, in a manner of speaking. To be sure, Cleveland Clinic is a nonprofit organisation. But it’s a well-heeled one, with more than $12 billion in assets, according to its most recent financials. What’s more, the organisation has always been savvy about the intellectual property and innovation potential residing under its roof. Since 2000, when it launched its Cleveland Clinic Innovations division, CCI has secured more than 660 patents and spun off 76 companies. CCI investing $500,000 of its own cash into Tatara Vascular, a startup which makes a coronary guide wire. Combined with $1 million in investment from partners operating under CCI’s umbrella in the project, the total investment has reached $1.5 million. The Cleveland Clinic Global Brand : Currently, more than half of Cleveland Clinic’s patients come to its main campus from outside Ohio. To grow these numbers, and to increase the organisation’s name recognition and national presence, Cleveland Clinic has undertaken a national marketing campaign. This has involved strengthening the Cleveland Clinic brand across all of its facilities, turning the organisation from a local medical centre to a nationally-recognised brand of healthcare. Along with robust branding efforts, Cleveland Clinic has led the way in measuring and publicising its outcomes. This has helped it land bundled payment arrangements with some of the country’s largest employers, such as home improvement giant Lowe’s, based in Mooresville, N.C., and Chicago-based Boeing, which sought top quality for employees’ more expensive and invasive procedures, such as heart surgery. Globally, the Clinic is building a seven-story, 185,000-square-foot cancer centre at Cleveland Clinic Abu Dhabi, which is scheduled to open in 2022. They are also building Cleveland Clinic London, a 200-bed facility near Buckingham Palace, set to open in spring 2021. Cleveland Clinic is also working with Luye Medical Group on the Shanghai Luye Lilan Hospital in Shanghai, China. The new hospital, set to open to patients in 2024, is the first project by Cleveland Clinic Connected, an international affiliation program the Cleveland-based system launched. Cleveland Clinic, A Vital Local Economic Force : Economic and Fiscal Impact reports shows that by fulfilling its mission, Cleveland Clinic also serves as a powerful economic engine in the communities it serves. As the largest employer in Northeast Ohio and the second largest in Ohio, Cleveland Clinic has made significant contributions to the state and local economies, totalling $17.8 billion in 2016. The activities of Cleveland Clinic also supported more than 119,000 Ohio jobs, representing more than $7.5 billion in total earnings. Cleveland Clinic Florida, one of the largest employers in Broward County, had a total economic output of up to $1.2 billion, including 7,450 jobs and $426 million in wages and benefits. Cleveland Clinic Student Housing program : Obviously hundreds of Students attend The Cleveland Clinic every year and the Clinic provides On-campus housing. This housing is available only for medical students enrolled in their elective program. The bed rate is $500 per student and the accommodation includes a double-occupancy room, refrigerator, microwave and shared bathroom. So for 2 students $1,000 for one room. For this reason many students and also employees elect to find alternative private rental accommodation in the local areas such as Hough, Fairfax, Glenville, St Clair Superior, and Mt Pleasant. This enables students and Clinic employees to find much larger accommodation and also at cheaper expense. Cleveland Clinic actually works with reputable local Real Estate companies and has an alternative student housing program to help students arrange their housing needs. Whether it’s for the short term (up to one year) or long term (one to five years), Cleveland Clinic helps find housing accommodation in the surrounding area. The property has to be reviewed and meet certain standards, very much like the Section 8 standards. The rental contract is between the student and the rental agent. So if you are a future student on The Cleveland Clinic, Ohio or will be shortly moving to Cleveland to work at the Cleveland Clinic and you need quality rental accommodation then contact Global Investments today. A special thank You : On a last note we must give thanks for the great work Cleveland Clinic are doing in the fight with the current Global Covid 19 crisis, leading the way in providing urgently needed testing, please see the following link from the Daily Mail online as of today April 2nd : https://www.dailymail.co.uk/health/article-8104803/Top-hospital-Cleveland-Clinic-develops-coronavirus-test-deliver-results-EIGHT-HOURS.html

The many ways to enjoy Christmas in Cleveland

The jewel in Ohio’s crown has a huge amount of festive fun to offer this December. From lights and shows to music and skating, there’s something for everyone to enjoy this holiday season in Cleveland. Here are our top picks for the 6 best things to do this Christmas in Cleveland. GLOW at Cleveland Botanical Gardens The Cleveland Botanical Gardens are one of Cleveland’s highlights no matter the time of year, but at Christmas the gardens really shine – literally. GLOW is a stunning holiday lights festival which features gingerbread houses, decorated trees, crafts and more. Wild Winter Lights at Cleveland Metroparks Zoo After a several-year absence, the winter lights display is back at Cleveland Metroparks Zoo this year. This exciting wonderland includes several interactive zones like Snow Safari, A-Roar-A Borealis and a light show Waterfowl Lake. A Christmas Carol at Great Lakes Theater Christmas wouldn’t be complete without taking in a festive show, and there are plenty of fantastic options in Cleveland. Dickens’s classic Christmas ghost story is being shown at the Great Lakes Theater, but you can also catch A Christmas Story at Cleveland Play House, The Nutcracker at Hanna Theater and White Christmas at KeyBank State Theater. The Festival of Trees The Allen Theatre at Playhouse Square hosts its Festival of Trees annually, and this year is no exception. Once again, the impressive lobby will be filled with more than 25 Christmas trees sponsored by various local organisations and elaborately decorated by local artists. Christmas Concert by the Cleveland Orchestra What’s Christmas without a little music? The incredibly talented Cleveland Orchestra are performing their iconic Christmas Concert at Severance Hall this month. Running right through to 22nd December, the Orchestra will be led by conductor, Richard Kaufman, and joined by a number of guest choruses – including the Blossom Festival Chorus and Cleveland State University Chorale. Cleveland Foundation Skating Rink At this time of year, there are plenty of great outdoor ice rinks in and around the city, but the largest rink each year is the Cleveland Foundation Skating Rink located in Public Square. This is a great place for families to gather and indulge in a day of fun over the Christmas period. With so much to see and do in Cleveland over the festive season, it’s no surprise that the city is becoming an increasingly popular place to live and work. With a rental market going from strength to strength, now could be the perfect time for you to invest. Get in touch today to find out about the incredible investment opportunities currently available in and around the city.

Ford to invest $1 billion in Avon Lake, Cleveland Plants

CLEVELAND, Ohio — Ford Motor Co. has committed to investing $1 billion in two Greater Cleveland manufacturing plants. It is to invest $900 million in a new product line and other improvements at the Ohio Assembly Plant in Avon Lake. A further $125 million will also be spent on continuing upgrades at Ford’s Cleveland Engine Plant in Brook Park as part of a contract tentative agreement with the United Auto Workers. The auto giant’s plans are set to add 1,500 jobs at the Ford Ohio Assembly Plant, according to Avon Lake Mayor Greg Zilka. “We are pleased that Ford, the State of Ohio, Team NEO, the UAW and the City of Avon Lake have built such a positive working relationship,” Zilka said in a prepared statement. Under the new UAW agreement, the plant will add another vehicle to its manufacturing roster by 2023, which the new workers will help build. Right now, the assembly plant makes F-650/750 Medium Duty Trucks, F-350/450/550 Super Duty Chassis Cabs, E-Series Cutaways and stripped chassis. About 1,740 employees work at the plant, and roughly 1,600 are hourly employees. Ford also plans to add $150 million in upgrades to its Cleveland Engine Plant in Brook Park. “One thing people don’t realize is that we are going to benefit from the trades union people building the facility well before it is open,” Zilka said. “That is a shot in the arm for our City of Avon Lake, as well. Our understanding is that they will either add on to the very large facility they have now or possibly it could be a stand-alone building on the campus. We don’t have that information yet.” But one thing is known: the city will economically benefit from the expansion. He said that while the plant includes parts of Sheffield Lake and Sheffield Village, “the vast majority” of it is in Avon Lake. The mayor said the school district, which receives 80% of local real estate taxes, would benefit from the investment. Zilka said the earliest these taxes would be collected is 2024, but that it is too early to tell the amount. The 1,500 jobs also will generate income tax for Avon Lake. Economic Development Director Ted Esborn said it’s not currently known what that amount will be. However, he said the current 1,700 jobs at the plant contribute much to the city’s coffers. Esborn said the city annually collects $7.5 to $8.5 million in income tax from businesses. “Ford accounts for about 25% of all income tax that Avon Lake receives from businesses, and that’s a roster of over 300 businesses including other large manufacturing employers like PolyOne, Lubrizol, and Thogus,” Esborn wrote in an email. Impact on real estate Unlike other areas of public and private investment, the economic benefits to infrastructure are clear. But not only does investment infrastructure lead to job creation and GDP growth; it also acts as a catalyst, having significant knock-on impact to the surrounding real-estate. City transportation projects, in particular, tend to signal where the next property hot-spot will be. Historically this has been road or rail projects. “The Opportunity Corridor”, which began in 2015, is a boulevard in Cleveland, Ohio, partially open to traffic and partially under construction. The $306 million city investment will connect Interstate 77 and Interstate 490 to the University Circle neighbourhood (the fastest-growing job centre in the region). With these combined investments from Ford and the city of Cleveland (just two recent examples) the short and long term results are sure to be an increase in Economic growth within the city. Economic growth is one of the major factors in Real Estate capital appreciation. Demand for housing is dependent upon income. With higher economic growth and rising incomes, people will be able to spend more on houses, this will increase demand and push up prices. What factors help Ford in this large financial investment decision? The Cleveland area may see its low cost of living finally become a magnet for college graduating techies from its University Circle, alongside other members of what some people call the “creative class.” A new report revealed regions that have or can attract young workers in fields such as engineering, software development and the arts will have the best opportunities to grow their economies. The Cleveland metropolitan area is among a group of large metros with the fastest growth in creative-class workers between 2005 and 2018. Analysis shows Cleveland in fifth place with a 17.3% growth in creative-class workers. Ford understands Cleveland has the correct ingredients in place to attract the workers needed for their expansion. With affordable quality homes and an improving road network and public transport infrastructure, Cleveland’s advantages are now less of a “secret” to young professionals seeking an affordable place to start a career. The announcement of Ford’s $1 Billion dollar investment will be very positive news for people that have already invested in Cleveland Real Estate. For those looking to get involved while the prices and ROI are still one of the best in the whole of the USA, call or email Global Investments today.

Construction and development in downtown Cleveland drives the rental market up.

If you drive through downtown Cleveland today you will see cranes dotted across the skyline . Warehouses, derelict buildings and even car lots are being turned into urban chic apartments which are attracting a hefty price tag. ABC News ran an article in August this year covering this topic, they called the article “Vibrant downtown Cleveland neighbourhoods draw new development and rising rents, pricing many people out” The article highlighted the fact the worst-kept secret in Cleveland is that downtown Cleveland is back with a bang. New restaurants , boutique hotels and designer shops have made downtown Cleveland a very attractive place to live but now a very expensive one. Even with new apartment projects popping up all over downtown Cleveland, many of them are being advertised as “luxury living,” but they come with luxury prices. The article also looked at rent comparables for the last seven years, if we look at a one bed/one bath in Downtown Cleveland in 2011 the rent was $820 a month, if we look at the rental market today we can see that this has risen on average to $1,252 per month (this is more than a fifty per cent increase in a number of years) The situation is no better for two bedroom apartments, in 2011 a two bedroom apartment would have rented $1,252 per month but now they are renting for $1,890 per month. The rent levels in Cleveland are starting to come on par like other large US cities like Washington and Seattle. Apart from the all of the new developments taking place another distinguishing factor is the occupancy levels in downtown Cleveland, it is currently running at over 95%. Even with all of these new apartments even when an apartment does become vacant it is snapped up within a number of days. Another interesting point in the article is how Cleveland has marketed itself in the last few years, it has become a beacon of the Mid West for developers and investment by continually pushing its location, people and local enterprises. Large scale developers have used promotional material to sell a lifestyle not just a property, one they believe Cleveland can deliver. But all of this development is great for a nice night out or a busy shopping day but it is not so nice for some people who can not afford the high rent levels anymore. The Downtown Cleveland Residents Association have stated this very fact, they said all of the development is great for the city but no so great if some people can not afford to live there anymore, we don’t want it to be an enclave just for the wealthy. The rising rents in downtown are having a rippling effect in other areas in close proximity to the city, many people who would have lived in the city are now looking further a field to find more reasonable rent levels. Areas like Hough, St Clair Superior, Fairfax, Ashbury Towers, North Broadway are now on the investors radar as these are all a short distance to downtown Cleveland, these areas are seeing increased rental demands and increased rents. Global Investments have exclusive agreements with many US Brokers and Agents with properties in these areas, if you would like to find out more please contact: invest@globalinvestmentsincorporated.com