Niagara Falls – NY – USA – Investors flock to the Up State City
Niagara Falls has been receiving huge interest in recent months from overseas investors, the once quiet little city is becoming a hub of investment and development.
Niagara Falls, USA is seen as the number one untapped tourism destination in the USA ,125 million people live within a day’s drive and over 20 million people visit each year, three world class casinos draw over 6 million visitors a year.
Both Buffalo and its sister city, Niagara Falls are undergoing phenomenal transformations spurred by billions in public and private investment. The Niagara Falls Redevelopment (NFR) has now spent more than $90 million in the Niagara Falls area as part of its continuing effort to develop key parcels in downtown Niagara Falls, USA.
Amherst-based Uniland Development has revised its plans for the $150 million Wonder Falls Resort that will occupy much of the vacant Rainbow Centre Mall, and just around the corner Canadian hotelier Michael DiCienzo wants to invest $70 million in his Sheraton expansion.The region’s economic development pipeline continues to overflow with ambitious projects and indications are the trend will continue for at least the foreseeable future.
Redevelopment and new construction abound, and businesses from restaurants to galleries to technology centers are opening at the fastest pace in more than 50 years.
All of the excitement around Niagara Falls has led to a re-branding by the Tourist Board to increase tourism to the area and promote other attractions and not just the Falls, their new slogan is “Niagara Falls USA: Where Adventure Comes Naturally.” Reports from the major attractions indicate the number of visitors reached record levels last season.The goal of the new branding is to capture the essence of Niagara Falls now and for the foreseeable future.
So what impact is this having on the housing market ? a huge one. If you were to take a similar property and drop it on the other side of the Falls you would be looking at paying over three times the price, that coupled with the fact that the US side of the Falls is a buzz of re-development is causing a frenzy of investment, even by the Canadians.
Niagara Association of Realtors president Patrick Dummitt says he expects the increasing demand for property throughout the region to continue for years to come. Niagara is becoming the place to be for business people, residents, and investors.
According to realtors across the whole of Western New York, the Buffalo and Niagara Falls housing market is red-hot right now – asking prices have risen to all-time highs and bidding wars can raise those prices even higher. The supply of housing inventory in the market has fallen 30% across the area since this time last year, according to the Buffalo Niagara Association of Realtors.
So there is no question or doubt that Niagara Falls is one of the best investment areas in the US right now, the problem is finding the right properties at the right price while market prices are on an upward trend.
Global Investments Incorporated has teamed up with one of the biggest housing suppliers in the Falls area, the properties are refurbished tenanted and all under management, they are also offer incredible value for money and are all very well located to take advantage of the current re-development.
CEO Mike Moodie is quoted saying “Niagara Falls is going from strength to strength and has now overtaken Ohio as our second most popular region, at this rate it will soon overtake Detroit. With this new exclusive signing the next few months are going to be busy in Western New York State”
If you would like more information on our exciting new product in Niagara Falls please contact Mike or any of the team at Global or email email@example.com