America’s housing market has been widely discussed globally, and Portland has been one of the most intriguing topics. Although this city has always moved to the beat of its drum, in 2021, it blew people’s minds as they saw some properties double in price and the housing market go completely wild.
This is what to know if you’re hoping to get into this tense market in 2022 and why it’s such an attractive investment for anyone to make.
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The Neighborhoods are Shifting
The average neighborhood in Portland is changing. Instead of large open spaces lots are getting smaller
and the houses built on them are getting smaller.
Of course, this means you can invest in some properties for a little less, but that also means they won’t grow at the same pace as larger properties in similar areas. Get to know the age of the site you’re investing in, and consider if the growth it’s expecting is good enough for you.
Single Home Families are King
Portland houses for sale
have historically been predominantly single-family properties, and that’s stronger now than ever before.
Although you may think you can get more money from investing in a duplex or any other type of multi-family property, more people seek out stand-alone single-family properties. Try to invest in buildings like this to make a large enough return.
Access to Green Transportation Affects Value
In Portland, the average buyer is trying to shift to a more green lifestyle or already leads one and wants to ensure they continue it. Picking properties with easy access to public or green transportation is a great way to ensure that you’ll have more possible buyers.
Please pay attention to where the property is, how close it is to businesses and restaurants, and how walkable the neighborhood is before investing.
There’s Far More Demand Than Supply
Although Portland isn’t as constrained on space
Although Portland isn’t as constrained on space as it may seem, it’s still having trouble keeping up with the high demand for property in this area.
Because of this, property prices continue to rise as the market gets higher and higher. Eighty-two people move to Portland every day, and housing can’t keep up with that.
This Market is Getting Less Predictable
No real estate market is completely predictable, but Portland always surprises. From the beautiful real estate to the incredibly green-minded locals and constantly rising housing costs, this city is an awesome place to invest in.
But, unfortunately, any investment can be considered a gamble. Although growth is expected to continue through 2022, it’s vital to know that any surprise shifts in the Pandemic or in the market could change this at a moment’s notice.
Portland is a Top Destination for Property Investments in 2022
From the gorgeous new builds to the fantastic 10% increase all properties in Portland are set to expect in 2022, there’s a lot on Portland’s plate for this new year. If you’re ready to invest and want a city with a lot of promise, Portland is the place to go!