In the previous articles of our blog, we talked about some destinations that are part of the OPISAS inventory, cities that are excellent options for investing in the American Real Estate and earning from the rent income. We focused on tourist destinations, which have built their reputation and socio-economic well-being around tourism. In this article we focus in a different, but equally profitable, approach to real estate investments, less focused on tourism but more on the demographic of residents. In this article we will also give you some insights on a very attractive location in which buying houses can be very profitable.
We will accompany you through the discovery of Fayetteville, the capital of Cumberland County, a city that counts about 210,000 inhabitants located in the hinterland of North Carolina, on the east coast of the United States. When we talk about North Carolina, we are talking about a medium-sized state: it has about 140,000 km² of green landscapes and vast coastal areas. It is the 28th state in the USA by extension, as well as the 9th most populous of all the United States. For those of you who are curious about the distinction between north and south, you should know that the border between North and South Carolina was drawn in the far 1712: it was a decision that came almost spontaneously which found its roots in the difficult administration of a territory too heterogeneous in culture and land ownership.
Today Fayetteville is a city in continuous expansion, with substantial changes taking place one year after the other. This city is in the crosshairs of investors, especially those who want to buy a house in the USA for investment purposes and invest in Real Estate focusing on stable income. So let's discover 5 curiosities about Fayetteville and why you should consider it for your next investments.
1) Fort Bragg e Pope Field: the two military bases that have a profound impact on local economic growth.
As anticipated in our in-depth analysis, in evaluating where it is appropriate to invest, it is essential to choose destinations with one or more leading elements present in the area; in the case of Fayetteville, the driving force is represented by Fort Bragg and Pope Field: the two military bases located north of the city. Fort Bragg in particular has led over the years to an influx of over 55,000 new residents and, covering an area of over 650km², it is one of the largest military installations in the world. Fort Bragg has an estimated impact on the local economy of 11.3 billion dollars a year, over 30.8 million a day!
The large influx of young specialized personnel has also affected the average age of the city of Fayetteville, which today is of only 30 years old. This information provides us with a hint that this city is adapting to the needs of young soldiers and professionals, who also attract their families to the area and indirectly contribute to the growth of employment, the birth of new services and the demand for new housing outside the base. This makes Fayetteville very interesting for anyone looking to buy a house in the USA.
The presence of young people also has a demographic impact: since 1900, the population growth rate has never decreased! The new births, due to a domino effect, influences the education system, which today has 109 schools in the Fayetteville area alone. Finally, it is essential to mention that in September 2008 the city of Fayetteville annexed 85% of Fort Bragg to its municipal borders, bringing the population to the 210,000 inhabitants mentioned above; With the new population data, the city has attracted and continues to attract new companies, including giants like Wal-Mart and Good Year Tire. Buying a house in the USA, having in hand data like these, allows you to better plan a valuable investment.
2) Buying a house in the USA in the city of Fayetteville: permanent tenants and constant demand for housing
Let's mention now the local real estate market: although the two military bases above contain a significant number of accommodations, not all soldiers, or their families, live inside the base.
The constant demographic growth is the cause of a continuous demand for housing and has a direct impact on the local real estate market. Despite the high demand, new buildings keep pace and real estate continues to offer good investment opportunities for buyers. To use the words of the American Realtors, Fayetteville’s real estate market has long been a "buyer market", a market in which it is possible to finalize good deals by buying at good prices, as well as finding permanent tenants who regularly pay the rent.
If all this was not enough, here is an important information on real estate prices, essential for those who want to buy a house in the USA.
Housing prices vary from area to area and according to the type of property, but even in the most exclusive areas of the city, they rarely reach $200,000! To give you an idea of why you should consider to invest in the city of Fayetteville, just think that the real estate market in Fayetteville was ranked third among the most affordable in all of the United States of America.
3) The city is constant development
The military bases are not Fayetteville's only attraction and economic source. In recent years the city has been the protagonist of numerous changes. Buying a house in the USA by opting for Fayetteville can therefore be a good investment. The city is changing face and the first signs are widely visible walking through the city center.
In addition to the numerous school and academic centers, the downtown area is now revitalized: there are numerous retail shops, shopping centers and restaurants, not to mention the new baseball stadium (Segra Stadium) built thanks to an investment of over 40 million dollars. It is home to the Fayetteville Woodpeckers and offers sports entertainment to locals and visitors.
There are also numerous private investments in the city: the most important in recent years is certainly the one of 80 million dollars for the renovation of the Prince Charles Hotel, a luxury hotel nicknamed today "The Residences at the Prince Charles".
Always near the stadium, the works for another big hotel and various commercial offices are being completed, and they’re important signals of the arrival of other public and private investments in the coming years.
4) The city has excellent connections to some of the most famous destinations in the USA
Not everyone knows that the city of Fayetteville is well connected and is therefore an excellent place to live, as it facilitates the movement of its citizens within the United States. Connections are a factor highly considered by American citizens, as they travel a lot by nature, both for work and for pleasure.
In fact, Interstate Highway 95 passes alongside Fayetteville, an important north-south corridor that connects the city northwards to Washington D.C., New York and Baltimore, and southwards to Orlando and Miami. In addition, Interstate 295 is expected to be completed by 2025: a 55km road segment on the western side of the city that will facilitate direct access to Interstate 95. Both state roads also connect the city to seaside resorts along the coast of southeastern North Carolina. Among the most popular beaches it is important to mention Holden Beach, which alone occupies 13km of coastline on the Atlantic Ocean.
Fayetteville is also home to its airport, better known as Grannis Field, connected with direct flights to various cities and tourist destinations in the United States. The presence of this hub is another factor that makes Fayetteville an excellent destination for buying a house in the US and investing in Real Estate.
5) The city is one of the 13 Fayetteville in all of the USA
Yes, hard as it may be to believe, the name "Fayetteville" is far from unique. Across the United States, there are 12 other locations with the same name, including the most famous one in Arkansas. Fayetteville in North Carolina, of which we are speak about today, was however the first to be baptized in this way and is also the one with the largest number of inhabitants in its urban area.
The name Fayetteville derives from the Marquis of La Fayette, a French general that had US citizenship who played a decisive role in the War for American Independence. According to some documents, it also seems that Fayetteville, in North Carolina, was the only one actually visited by the Marquis!
If you are interested in investing in Real Estate and want to buy a house in the USA to obtain stable rent income, book your consultation with OPISAS now and choose to invest in Fayetteville’s real estate market.
