2019 turned out to be a profitable year for the Indianapolis real estate investing market. Forbes ranked Indiana’s state capital as one of 2019’s Best Markets for Real Estate Investments. According to data from Roofstock, out-of-state capital invested in Indianapolis has consistently increased since 2016. With so many real investment opportunities plus a thriving market, the city is ripe with potential for both new and veteran investors alike.
The Indiana Real Estate Market is on the Rise
The PwC’s Emerging Trends in Real Estate study gave Indiana’s major city, Indianapolis, an overall rank of 16th in real estate prospects and 20th in homebuilding prospects. The city is seeing a high investor demand with condos, apartments, and multi-family investment properties topping the list.
This upward swing for the area’s real estate investing opportunities is due to its recognition as one of the best cities to live in the United States. Add the tech industry’s growth in Indianapolis plus an expanding downtown area, and there’s no better time than now to start investing in the city and Indiana as a whole.
3 Upcoming Real Estate Trends for 2020
As the Indy real estate market continues to grow, investors need to stay on top of key trends redefining the industry. Here are three trends to watch out for as you start planning out your investment strategies for 2020 and beyond:
- Secondary markets will witness accelerated investments.
Investors are starting to look past the oversaturated primary markets —including Boston, New York, Washington D.C., Los Angeles, and San Francisco— and into secondary markets for fresh opportunities.
Secondary markets, such as Indianapolis, typically have lower property prices plus less competition with foreign and institutional investment capital. However, a lot of the better properties are unlisted and may not be accessible to those just starting out. Joining a real estate association offers a unique advantage to individuals who want to break into secondary markets.
- More buyers are choosing suburbs over cities.
Another major shift is the rising number of people who choose to migrate from the city to the suburbs. One reason is that locations like Indianapolis are starting to get more urbanized with 24/7 amenities and bustling entertainment, economy, and culture. Complementing these big-city perks are walkable environments and less congested communities where residents can work, live, and play. This outmigration trend can help individuals filter properties and neighborhoods they want to invest in.
- The real estate industry is increasingly adopting technology.
While technology has been slow to disrupt the real estate industry, high-tech products and systems are steadily infiltrating the market. The following are some notable advancements:
- Voice-activated technology in smart apartments
- Complex security systems for residential homes
- Integrating the Internet of Things (IoT) in designing and developing buildings
For tech-savvy investors, this can be an excellent way to corner real estate investing niches with huge profit potential.
Stay Ahead of Real Estate Trends with CIREIA
The real estate landscape is constantly shifting, and staying updated on developments can be difficult. Simplify your real estate investment journey by joining CIREIA, Central Indiana’s leading real estate investors association! Call us today at (317) 670-8491 to learn more about membership benefits.