CINCINNATI REAL ESTATE
Cincinnati is a beautiful and historic city, retaining the architectural charm of earlier times. However, this forward-thinking area has kept up with modern trends, including in the area of urban development.
If you’re looking for Cincinnati real estate, you’ve come to the right place. 3CRE can provide you with the expertise and knowledge necessary to make the best possible purchase decision. Covering all areas of commercial real estate, 3CRE gives you the advantage you need to reach your goals successfully.
Let’s take a look at the current real estate market in Cincinnati, and see why it’s a good decision to buy property in this historic city.
The recession hit hard in Cincinnati, as it did all over the country. However, by 2013 the real estate market had almost completely rebounded. For example, the housing market reached pre-recession levels, exceeding the prices of sales from 2007.
This growth has only continued over time. 2016 finished excellently for the Cincinnati real estate market. In fact, the last half of the year saw two major headquarters deals and a good amount of investment activity, including one building sale of over $107 million that broke records.
CINCINNATI REAL ESTATE
FACTORS THAT CONTRIBUTE TO THIS GROWTH:
The unemployment rate has continued to go down over the past few years. This means that more people have jobs across the greater Cincinnati area. This decrease has actually been a result of job growth throughout the area.
The low unemployment rate has added a range of benefits for both the housing market and the commercial real estate market. Both have seen a boost over the last few years, with continued increase on the horizon.
LOWER COST OF LIVING
Cincinnati boasts a cost of living that is 7.6% lower than current national average. This results in more people moving here to search for work, and thus more office space is being used. Office investments last year totaled $1.3 billion as a result of the increase.
WHY BUY CINCINNATI REAL ESTATE?
The Cincinnati real estate market continues to show progressive growth, meaning that now is the time to invest in property in this city. For example, Moody’s Analytics is currently forecasting a 2.5% increase over next 5 years.
Due to the current job growth in the office sector, recent investment trends have leaned towards the office space market. This is due in part to the fact that the rate of vacancy is quite low, and continues decreasing. In addition, predictions have shown that there is very little risk of oversupply in the near future, as there is not much speculative construction.
Obviously, now is the time to get on board and invest in Cincinnati real estate!
Whether you’re a new investor, a business owner, or an investor with lots of experience, it’s always helpful to have the guidance of someone who knows the field well. 3CRE can help you make an informed decision through their extensive market research and expertise in Cincinnati real estate. 3CRE specializes in all types of commercial real estate Cincinnati Ohio. Contact them today to see what results they can give you and your business.
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