Now call by some the “Renaissance City” the regeneration of Detroit is definitely underway with the recent Housing Predictor forecasts ranking the city number 1 housing market in America with 21.5% growth predicted for 2010.

There remains a shortage of some 30,000 rental homes in the Metro Detroit area and clever buy-to-let buyers and investing in refurbished family properties in the most sought after locations at for as low as £32,000, up to 40% below market value.

Steven Worboys, MD of Experience International which is marketing Detroit Property stated:

Since launching this unique investment opportunity last year interest has been very high with over 250 units purchased and clients are already benefitting from rental income and yields of 21% per annum.

US Auto Industry Back on Track

The American motor industry, which has a key part in the ‘Motor City’ of Detroit’s economic recovery, is also making a great come back with Ford Motor Co. posting a $2.1 billion profit for Q1 2010, continuing the success of four straight quarterly profits since 2005.

In a recent address US President Barack Obama commented on the turnaround of the automobile industry stating “the industry is recovering at a pace few thought possible”.

In addition to Ford, Chrysler has posted an operating profit for Q1 2010 and it is stated that General Motors has created over forty five thousand jobs with an spoinanother~additional} 1,200 predicted to be saved this year by the construction of a new vehicle in a factory just north of Detroit. 

Employment Prospects Strong for Detroit

Detroit is a working city generating demand for affordable property and opportunities for future employment look very good as private and government investment flows in. The proposed construction of the $5.3 billion Detroit River International Crossing project which will connect Detroit to Windsor, Ontario on the Canadian side is forecast to create 10,000 construction jobs and an additional estimate of 221,000 jobs in Michigan.

If you are thinking about investing in Detroit property and taking advantage on the demand for good accommodation then 3 bedroom family homes can be purchased from as low a price as £32,000 which includes buying costs and a complete refurbishment by The Home Depot, with ongoing tenant management and the first 2 years of maintenance costs covered making this a truly hands free property investment.

As Steven Worboys concludes:

“When swpinbuying~purchasing} in Detroit it is necessary to choose the correct properties in the right areas. We work with local expert partners based on the ground in Detroit who will identify for our clients the most sought after premium roads and suburbs in which to invest and can gain access to the most desirable properties as soon as they are available.”

For additional details on the properties available or to request a Detroit Investment Report please contact Experience International on + 44 (0) 207 321 5858 or visit experience-international.com.