Commercial real estate in Lexington, Kentucky, is on the rise
Up until now, the real estate market has been on the recovery in Lexington, and the Lexington-Fayette area. At present, due to the reported rising numbers of new residents, the demand for commercial real estate in Lexington is on the rise. Ranked 4th city to be in for “Business and Careers”by Forbes, Lexington is indeed a great place to live and work in. That is why the demand for apartment sales Lexington wide is escalating at a fast pace.
Being one of the cleanest cities in the world (in the top 20 for a number of years), Lexington attracts a great number of people, both from within and from outside the United Stated. With an annual increase in population mostly consisting of ambitious millennials freshly out of University, highly motivated by the increase in job offers in the area, new apartment complexes are currently being built. A great amount of work is being done to satisfy the high demand for living spaces. There is a large number of commercial real estate in Lexington, already existing and under construction.
For every young professional ready to start a new life, Lexington, Kentucky, is the place for an investment. Whether they consider buying or just want to rent a home, Lexington is the place for doing just that. As the second-largest city in Kentucky, and home to a number of large corporations such as Lexmark International (a company that manufactures printers and a number of software destined for enterprises), Toyota Motor Manufacturing, IBM, Xerox, and Lockheed-Martin, this city has a lot to offer.
Following an increase in the economic condition of the area, there was also an increase in the number of jobs available (more than 4,000 registered in the last period). And the increase in the job pool led to an exponential increase in migration. And what better way to start a new life in a new city and celebrate securing a new job than by purchasing a new apartment. There is a constant rise of more than 5% in apartment sales Lexingtonwide, and in the number of home owners in the city.
For people both young and old, not sure if they are willing to be tied down in one place by buying a home, regardless of the job offers, there is good news. The rent rate both in Lexington as well as the Lexington-Fayette area are considered among the lowest in the United States, being ranked as the third-lowest in the entire nation. The city is actually very cheap and a desirable place to live in and raise a family. What more could anyone ask for?