Raleigh is the Tech Industry’s Best Kept Real Estate Secret

Thomas Leverick
2 min read

Over 60 years ago, in 1959, the North Carolina Research Triangle Park (RTP) was created to combat the state’s perceived ‘brain drain’ of graduates from its top institutions. Graduates of North Carolina’s top tier universities - Duke, the University of North Carolina at Chapel Hill and North Carolina State University - would move geographically to find jobs in the Northeast. The aim was to encourage home-grown talent to remain at home, simultaneously signalling to companies in the engineering, science and research spheres to come to North Carolina for the talent. 

Screenshot 2020-05-03 at 16.01.03

In 1965, IBM expanded into the Triangle setting the stage for the next 50 years of research and business in the area. Now, over 170 innovative companies have set up facilities and offices within the Triangle to harness some of America’s brightest talent, such as Cisco, Biogen Idec, Syngenta, Bayer CropScience, the US Environmental Protection Agency and many more. 

The RTP, a commuter hub for more than 89,000 employees, has meant demand for housing in the area and within the confines of its three cities: Durham, Chapel Hill and Raleigh. Over the past 15 years or so, the Triangle has been attracting young professionals back to the cities. Consequently, there has been a rise in the development of disused spaces such as warehouses, new mixed-use developments, a rise in craft, independent and boutique retail, and a development of the restaurant scene. 

The ascension of Raleigh is indicative of the positive effect the RTP has had on the area. With more skilled, high-paid workers in the area, the cities have reaped the benefits of better house prices, increased development and better amenities. Raleigh used to be the centre for the American Tobacco Company, with the city experiencing a high crime rate and abandoned factories, the city you seem today is a remarkable, prosperous difference. 

Last year, the 41st annual report of the Urban Land Institute and PWC awarded Raleigh-Durham as the 2nd best place to live in the US. The report utilised a variety of factors, including technology sector jobs and real estate investment, to calculate their rankings. Mitch Roschelle, a PwC Partner notes that “even though we are late in the expansion cycle, volatility in global financial markets, coupled with global geopolitical instability continues to drive investors towards U.S. real estate. The asset class remains desirable as investors seek predictable cash flows from tangible investments”. 

What does this mean for homebuyers in North Carolina? Raleigh, Durham and Charlotte all benefit from the RTP in a number of ways. Firstly, house prices int he Raleigh are have increased 10.7% YoY from 2019, standing at around $234,000. Over the last 5 years, house prices have increased by 35% in the area. With demand for the services and innovations of these technological, biochemical and computing companies forecast to increase over the next decade, Raleigh will likely see an increase in population, demand for housing and investment, so now is the time to buy in North Carolina. 

Screenshot 2020-05-03 at 16.08.43

Find the right investment for the future of you and your family in Raleigh with Propeterra. Contact Propeterra today to see how you could maximise your investment in the strong US property market. 

Leave a Comment
Recent Articles

Sign up to receive the Propeterra's newsletter and exclusive property news and updates. You can unsubscribe at any time by clicking on the unsubscribe links in our emails.



posts by tag

See all

Market Cover_Emerging Markets-1


Market Cover_Frontier Markets-1


Market Cover_Special Situations-1-1


Market Cover_Developed Markets-1


Recent Articles

2 minutes read

It’s Ski Season! Four Resorts to Invest In Now

The swish of skis, the powder on the slopes and the crisp mountain air… With Covid restrictions easing, many holidaymakers’ thoughts are turning to travel - and with the winter sports season in full flow, what better time to look at the resorts that offer the most bang for your investment bucks? Read on for Propeterra’s rundown of our favourite ski destinations - including some you’d never have expected!

Niseko, Japan

Japan might not seem like an obvious skiing destination, but the snow at Niseko is hard to beat. Located in the northern Japanese island of Hokkaido, the annual snowfall is a staggering 15 metres - so unlike some less fortunate resorts in warming parts of Europe, your good skiing is practically guaranteed. Niseko is also renowned for its beautiful scenery and luxury accommodations - and with New Chitose International Airport a short two hour drive away, as well as the Hokkaido Shinkansen connection coming in 2030, it’s never been easier to travel there.

Prime investment opportunities available now include the Pavilions Resort Villas and the Ginto Residences - and for more information on the area, Propeterra’s Niseko Report is available for download now.

3 minutes read

Affordable Housing - the ADB and Lessons from the UK

The Asian Development Bank (ADB) recently released a briefing paper attempting to
learn lessons from the UK as to successes and failures of affordable housing policy. It is
justifiable to critique the UK’s faltering policy of delivery over a number of decades, but
this is precisely why it is a fruitful area of enquiry from analysts considering other parts
of the world. The UK has benefitted from significant resources, and policymakers have
been under considerable pressure from the electorate to ensure adequate housing across tenures. This is why the Chief of the Urban Sector Group at the ADB, Manoj Sharma, saw fit to commission this work, and report on its conclusions.

3 minutes read

Back to desks and back to the city!