Experts predict rents will rise rapidly in Raleigh

About the only thing I call myself an expert in these days is Mortgage Banking but when I see investors willing to lay out $55 Million to build luxury apartments in Raleigh, well that tells me they think that there is a real opportunity to recoup that investment with a tidy profit to boot!

Triangle Business Journal – by Amanda Jones Hoyle

Date: Wednesday, June 1, 2011, 4:11pm EDT – Last Modified: Wednesday, June 1, 2011, 4:50pm EDT
$55 Million Luxury Apartment Building near RBC Center, Raleigh TBJ

Post Properties Inc. of Atlanta is shaking out the cobwebs on its plans to build a $55 million luxury apartment complex across from the RBC Center in Raleigh and announced plans on June 1 that construction will begin by the fourth quarter.

Read more: $55M luxury apartments going forward near RBC Center | Triangle Business Journal

Rising rent is another factor pulling some potential homeowners off the fence. During the housing boom, landlords lowered rents to hold on to tenants who were leaving apartments to become homeowners. Now that trend has reversed, sending rent levels soaring. – WSJ – 8/02/2011

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This article was written by ricardocobos

Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. With personal production of 8MM in real estate sales across Southern Wake County I am considered to be a local market expert in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603, 27604, 27606, 27609, 27610)) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183

Comments

  1. I agree. Over the last few years, I’ve seen a very strong rental market in just about all areas and price points. Most of my relocation clients are moving to the Raleigh area in need of 1 of 2 things usually…for their house to sell where they are moving from and a job here. This means that buyers that do not purchase homes right away are looking to renting for a year first.

    Marc Iafrate, MBA
    Capital City Real Estate Group – Keller Williams Realty
    (919) 886-7355