When Surfing for Investments Outside San Diego
The past three years of surging buyer demand for apartments close to San Diego’s urban core is overflowing into markets in East County and North County, with a particular increase in activity in both Escondido and El Cajon. Voit Real Estate Services SVP Robert Vallera (here with daughter Aria) tells us as tenant demand strengthens in those areas, these markets are finally experiencing serious rent growth and buyers are responding in kind. This rental demand is fueled in part by strong job growth over the past 12 months; Robert says it’s a good opportunity for investors to venture into markets that aren't as overheated as the San Diego metro area. He recommends taking advantage of higher cap rates in these markets: Think outside the urban core box. For more info on our Bisnow partner, click here.