Rental Rates on Property in Atlanta Increasing

While the Atlanta property market may remain too volatile for many to risk entering an increasing number of investors are taking advantage of the low property prices to purchase apartments.

This is because the occupancy rate of apartments in the Atlanta area is currently at its highest since 2008 as it is running at over 90%. The knock-on effect of this has been to steadily increase rental rates, with the biggest area for expansion being in those members of the population who are older or who have low incomes.

The increased need in these areas is partly due to the demolition of inner-city areas combined with decreased housing construction, and Atlanta also attracts many young people who are looking for work in the city.

Another reason for the increased need for rental accommodation is that there have been high numbers of foreclosures and those people may be unable to buy again and are forced to rent for at least a while. Many of these people may have lost their jobs as the unemployment rate rose last year.

These factors present good opportunities for overseas investors who are looking for long term capital gains as most analysts agree that recovery will be slow.

Atlanta is by no means the worst performing state, and these properties should give good rental yields for quite some time to come, and as there is less new construction property prices will eventually be forced up by increased demand. Due to the number of large companies who have bases in the Atlanta area, they should be ideally placed to make the most of the recovery when it comes.