Charlotte highlighted as buy-to-let hotspot
Charlotte has been as a buy-to-let hotspot in the USA.
New York and Miami tend to dominate lists of investment markets in America, alongside affordable areas such as Detroit. Charlotte in North Carolina, though, has been recommended by investment experts Torcana thanks to its more stable conditions and net returns of more than 9 per cent per year.
"We believe that investors should be buying in cities where increasing numbers of people want to live and work," Director Colin Murphy tells OPP Connect.
Indeed, while Miami and New York are popular, they are "completely out of sync to the rest of the economy," says Murphy, unlike Charlotte, where economic growth and corporate relocations have helped to fuel the rental sector.
"Torcana has sold 75 properties in Charlotte in the past year to investors based in the USA, UK, Canada, Ireland, China, Singapore, Australia, South America and the Middle East," he adds. "There is unquestionably a high demand out there."
"This is the perfect destination for long-term, risk-adverse investors seeking a growth city with a bright future."
The US remains a popular destination for overseas investors in general, accounting for a quarter of all enquiries on TheMoveChannel.com in 2014.