Investing in Myrtle Beach
There are plenty of great reasons to consider investing in the Myrtle Beach real estate market.
Before the housing bubble burst in 2008, the local real estate market was among the hottest around, and we are still considered to be one of the fastest-growing areas in the country.
Though recovery has been a long process, the market has now rebounded in a big way with sales steadily increasing and much of the new home construction that was planned resuming thanks to both custom home builders and national development companies.
Though the future is always uncertain, most real estate experts expect continued growth in the housing market thanks to a variety of property types, affordable prices and a continued interest from retirees looking to relocate near the beach.
Some of the most valuable investment properties in Myrtle Beach are one-bedroom oceanfront condos and small vacation rentals near the beach. This type of unit, popular among vacationers, can cost as little as $80,000-$120,000 and generate up to $25,000 in gross rental income per year.
With many new properties sprouting up around town — especially in the Carolina Forest area and near The Market Common — there are many opportunities to get in on the ground floor of new developments while prices are low, increasing your chance to flip them for profit in the future.
Check out these great resources for more info on investing in Myrtle Beach: