San Diego is beyond doubt one of the most successful real estate markets in the U.S. If you are looking into real estate investment options, you should seriously consider San Diego. The rents and yields in San Diego are steadily increasing, the population is growing and rental demands have never been higher.
Need more convincing?
The median home price in San Diego has jumped for the second month in a row. According to Zillow, a real estate tracker, the median San Diego home price is $586,000. The real estate value has gone up 8% in 2017 and is expected to rise at least 2.9% in 2018. The price has seen a constant rise since 2012 and Is the hottest market in the U.S.
If you have the resources and are thinking about investing in San Diego real estate market, according to current trends and predictions, sooner is definitely better than later. All you need is a reliable partner like Home Sales San Diego to help you find the best and most lucrative properties to invest in.
Here are some of the best reasons to invest in the San Diego Real Estate Market.
It’s a Landlords’ World
The current rental landscape in San Diego is leaning towards landlords. The population is on the rise and the tourist industry is teeming. In fact, San Diego broke all records in 2016 when it was visited by 34.9 million tourists. That’s music to any landlord’s ears! As the demand for rentals keeps growing and with new homes yet to be built, landlords are in a great position.
If you need a specific idea, consider investing in college areas. They have high occupancy rates and rentals for students are in constant demand.
Airbnb is Teeming
Sticking with tourism, the Airbnb rental industry in San Diego is a very profitable one. It comes as no surprise since short-term rentals were “the thing” in San Diego long before the popular site was launched. San Diego hosts earned $69.6 million in 2016 with a total of 357,300 guests, a sharp rise compared to 185,000 guests in 2015.
Investing in Airbnb rentals in San Diego, therefore, makes perfect sense. The rental return rates are incredible and vacancy rates low.
Great Investment Opportunity
When it comes to housing, the capacities in San Diego are quite limited. However, there has been an increase in construction property in 2016. Single-family homes are being favored over properties that can accommodate multiple families. This will benefit investors, as it guarantees a higher cash flow. The housing expansion is a great investment opportunity.
High Rental Returns
According to the population, San Diego is the second largest city in California. As previously mentioned, the population is steadily growing which demands additional housing options. The demand is expected to grow even further in 2018. The rising demand and increased rental rates spell success for investors.
The rise in property prices means that investors will enjoy a high rental return and a steady cash influx. The average rental return in February was $2520 for traditional properties.
If you are looking to partner with a reliable real estate agency, contact San Diego Home Sales at:
2683 Via De La Valle G-227, Del Mar, CA 92014, USA