Real estate investors looking for solid returns are going back to school.
Throughout the downturn, college towns remained resilient and are becoming increasingly desirable, CNBC reported. Investors seeking rentals are now looking to areas with universities as demand for off-campus housing outpaces supply and shortfalls in funding prevent universities from providing new dorms, according to the network.
Other players pumping up college town real estate values include foreign buyers seeking homes near top institutions, CNBC reported.
And then there are the perennial amenities that make college areas desirable: medical facilities, college sports and cultural events.
“This bodes well for strong housing demand and peak prices in these communities,” real estate superbroker Dolly Lenz told CNBC. [CNBC] – Tom DiChristopher