Find out what’s happening in the property investment arena both in the UK and internationally
US Property Investors Land On Their Feet
August 13, 2009Article by Ray Withers
Property people are burying their cash in US land investment, according to international real estate consultants Property Frontiers.Investment is steadily rising in plots at Fairways Residences, Myrtle Beach, South Carolina – peaking 100% in June from earlier this year.Not only is the land in a popular tourist area but also the real bonus is the deal is in a development area and comes with zoning and infrastructure.
Zoning means the local planning authority has already agreed building on the plot, so investors don’t have to go through the planning lottery process.Exit strategies include building out and selling with a developer or just holding on to the land and selling.Plots are available for land banking at The Fairway Residences, part of the 20-year established at Island Green Country Club, Myrtle Beach, South Carolina.
Dubbed one of the world’s golfing capitals, Myrtle Beach is within driving distance of more than 100 golf courses that equal the talents of most players.The balmy South Carolina climate makes the state a popular holiday destination that lures more than 14 million visitors each year, that is an attractive market for holiday lettings.As if the golf wasn’t enough, South Carolina has the 60-mile Grand Strand of pristine beach, of which Myrtle Beach is a part.
South Carolina is also easy to get to in the US – only 40 minutes flight from New York.Fairway Residences, South Carolina, consists of 287 properties of 2125 sq ft to 2002 sq ft. The build period for each property averages 30 weeks although completion can be delayed.Investors can secure a building plot at a pre-launch price of £21,000, exclusively through Property Frontiers stand to make a massive 233% profit if they develop the land with a building partner.