Atlanta Property Market Ranked Number One for Residential Rentals

Forbes magazine has ranked Atlanta as the top city for residential rental property, and CNN money has said the city is the fourth best in America in which to invest. These accolades are bound to have piqued the interest of overseas property buyers, especially as the low property prices can give big rental yields.

The rental market here is likely to remain strong for quite some time to come as many people lost their homes during the recession. The rental occupancy in Atlanta over 90% and this has had the effect of increasing rental rates. While unemployment rates rose steeply in the city there are some extremely big companies based here who are now beginning to recruit again.

The development company Oliver McMillan who is based in Atlanta has just secured $300 million in private equity funding in order to take control of and finish an eight acre development of residential units, office space and shops which has remained uncompleted since leaving started over two years ago.

The signs are positive throughout the United States with many stalled projects now coming back to life with new investment, showing that a recovery is at last underway. While some of the US banks still have bad property loans to clear, other banks are beginning to reinvest in commercial property. JP Morgan Chase & Co is the second largest bank in the United States and has just announced that it financed as much construction lending during the first six weeks of 2011 as it did for the whole of last year.

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Categories: Atlanta Property / Property Invest


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