Nashville, TN, March 20, 2020 --(PR.com
)-- The downtown Nashville housing market saw some very promising growth in 2019, with a 7 percent increase in home sales. According to an analysis of the region, there are a few areas that look particularly favorable for further development.
The report indicates an occupancy rate of 94.7 percent, much higher than other comparable sized cities. One of the types of housing most in demand is condominiums, which let people own real estate in hot downtown areas like Sulphur Dell and SoBro. For example, a 71-unit condo building started offering units in May, and they were 90 percent sold out by the end of December.
The majority of the downtown Nashville housing residents are upper-middle-class people that want a specific type of real estate. According to the report, 83 percent of residents are earning over $60,000 annually, and 59 percent are earning over $100,000 annually. Though these people want luxurious housing, they also want reasonably affordable homes. As the Realiste Fund focuses on residential condominiums priced between 400k and 700k, they are uniquely poised to provide the sort of housing Nashville residents desire.
In addition to condos and mid-market housing, the other popular area of the housing market is the rental sector. With an average rental occupancy rate of over 90 percent, developers and investors can expect big returns if they build new, affordable, quality projects.
The confidence behind the Nashville rental market is proven by the many planned rental projects in the next few years. There are currently projects underway designed to provide 2,559 rental units by 2021, and an extra 2,600 units are expected to be built by 2024.
“While the supply of multifamily is being 'taken care of' by other investors, developers are ignoring the under supply of condos, which is where the real investment returns will be generated,” says Stephen Epstein, head of investments for the Realiste Fund.
The Realiste Fund's ability to provide in-depth local knowledge gives investors an edge. With a specialization in off-market opportunities, accredited investors working with the Realiste Fund get access to unique opportunities without having to compete with others in the field. As the Nashville Downtown 2019 Residential Report shows, there is an impressive return for people willing to provide Nashville residents with for-sale (condominium) housing.
The Realiste Fund focuses on improving Nashville by finding promising development opportunities throughout the region. They invest in a variety of real estate asset classes, so investors can get exposure to a cross section of local investments. To learn more about the Realiste Fund, email email@example.com.