A Peek Into The Thriving Scene of the Wild-West Metropolis
Discover Tucson's Real Estate
Tucson, Arizona, is famous for its dramatic southwestern beauty. From real-estate to business and tourism, everything about the spectacular Pima County city is on a high roll now. Known as one of Arizona's economic giants and home to the prestigious University of Arizona, Tucson has over the years grown into a Real estate hotspot, investors find the city irresistibly appealing thanks to its attractive mix of high-end luxury real estate, affordable houses and unmatched demand.
Culture, History, and Business
Tucson is one of Arizona’s vibrant semi-desert cities; it is the 33rd largest city and the 58th largest metropolitan area in the United States. Tucson is the second most-populated city in Arizona with a total population of 1,010,025 as of the 2010 Census behind Phoenix, both of which anchor the Arizona Sun Corridor. Tucson was founded as a military fort by the Spanish after Hugo O’Conor authorised the construction of Presidio San Agustín del Tucsón in 1775 and after that, Tucson served as the capital of the Arizona Territory from 1867-1877.
From the cultural perspective, Tucson has a vibrant ambiance of a traditional Spanish atmosphere, after all, Tucsón means “(at the) base of the black [hill]” in Spanish, a tribute to the famous Basalt covered Sentinel Peak. As a Spanish colony, the city has quite a rich collection of museums and Spanish artifacts. Its deep heritage is one of its attractive factors and a major cause of thriving tourism.
Tucson’s economy has gained exponential growth in the last five years with a significant amount of this coming from the manufacturing industries. Last year, Tucson saw 2.9% growth in the real gross domestic product (GDP) Tucson added nearly 9,000 net jobs from the third quarter of 2017 to the same quarter of 2019. a possible avenue for real estate investment.
Real Estate Appeal
Tucson Real Estate has boosted over the recent years because of the combination of its marketing strategies and Tourism prompting more investors to head down to the desert. Tucson business reports cited a 25% rise in foreign real estate investment in 2019, this undeniably a good upgrade considering Tucson in the past years has suffered from criticism about its weather and all.
Kevin Kaplan, the Vice President of long, hinted at the rapid sell-out rate of properties in the city as a good number of investors want to capitalise on the current low selling rates to buy off more properties, as prices are 11% lower this year than in previous years. Properties in Tucson are relatively cheaper and more affordable than any other part of Arizona. Currently, there are over 3000 homes up for sale.the average monthly rent in the city is $906. Indeed, the best time to invest in Tucson’s real estate property is now.
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