Rental market fuels USA property investment recovery
A surge in demand from property investors looking for high yielding investment properties is helping the USA property investment market recover from one of the greatest housing crashes in modern history.
Research shows that for the first time in decades, it is actually now cheaper to buy a home in USA rather than rent, due to the fact that average USA property investment prices are around 35% below their 2006 peak and mortgage rates are at all-time lows.
But despite favourable purchasing conditions, many would-be buyers are unable to raise the necessary finance to buy USA property investment due to tight mortgage lending conditions, forcing people into rental accommodation instead.
The hike in demand from tenants has helped to push rental values higher across much of the country, attracting more national and international buy-to-let investors in the process.
Rents have increased by an average of 5.4% since the beginning of 2010, with the bulk of the rise driven by luxury apartments in larger cities. Rental growth across much of the Florida property market has been even higher.
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