Phoenix is the largest city and the state capital of Arizona. Also known as the Valley of the Sun, Phoenix was founded in 1881 and has been growing ever since. With the warm, dry climate advantage of the Sonora Desert, Phoenix is a draw for both new residents and tourists. Over 16 million people visit metropolitan Phoenix each year and 37 million people visit Arizona each year.
Phoenix is the south-west’s regional hub city. The State of Arizona borders California, Nevada, Utah, New Mexico and Mexico. Los Angeles, San Diego and Las Vegas are only a six-hour drive or one-hour flight from Phoenix Sky Harbor International airport.
Phoenix has experienced consistent population growth over the last 20 years and is the sixth largest city in the US. The Greater Phoenix Area hosts a population of 4.3 million today and is expected to grow by 60 percent by 2030, bringing the population to more than six million people.
While many cities are suffering from population losses, Phoenix continues to set the standard for population growth with a steady influx on new residents. In 2012 Phoenix was a $201-billion marketplace that served as a hub for innovation and entrepreneurs by providing international access to aerospace, high-technology, bioscience, advanced business services and sustainable technologies companies.
Phoenix is currently home to several Fortune 500 companies. Freeport-McMoRan Copper & Gold Inc, Republic Services, Avnet, Pet Smart and Insight call Phoenix home.
US banks JP Morgan Chase, Bank of America and Wells Fargo all have Phoenix as their regional hub. American Express hosts its financial transactions, customer information and their entire website in Phoenix.
Intel has one of their largest campuses in Phoenix, employing 11,700 people across multiple microprocessor manufacturing fabrication sites.
Honeywell’s aerospace division is headquartered in Phoenix and the valley hosts many of their avionics and mechanical facilities.
Students are drawn to Phoenix from all corners of the United States and around the world. Arizona is home to three public universities, with Arizona State University having the largest enrolment in the nation with 60,000 students. There are 21 community colleges and 25 private colleges, making Phoenix a top destination for higher education.
Phoenix is one of the only cities in the US to have all four major professional sports teams: The Phoenix Suns for the National Basketball League, the Arizona Diamond Backs for Major League Baseball, the Arizona Cardinals for the National Football League and the Phoenix Coyotes for the National Hockey League.
The PGA Tours Phoenix Open is held annually in Scottsdale and is the largest golfing event in the US, attracting spectators from all over the country for one week. In 2014 The Phoenix Open set a new overall tournament and PGA TOUR attendance record of 563,008.
The current opportunity in Phoenix real estate
Phoenix is a popular draw for out-of-state and international property investors. Population and housing prices have been on the rise steadily for the last 30 years. Think of Melbourne and Sydney. The property market and local economy have both experienced a steady recovery since the financial crisis of 2008 and outpaced the US as a whole.
The properties that America Property Source sources for our clients are below replacement costs and produce positive cash flow income. America Property Source works with licensed real estate agents who deal exclusively with investors. Our preferred Phoenix-based agents often secure unadvertised (or unlisted) properties for sale that are below current market value for our clients and only available for a short period of time.
Arizona is a landlord-friendly state, meaning that the law favours the property owners, not the tenants. The low fixed cost of doing business in Arizona (outgoings) and low real estate taxes (rates) are other advantages to investing in the Phoenix real estate market. Remember, there is no stamp duty or land tax in Arizona.
Employment opportunity in financial services and technology, the low cost of living and the favourable climate retain out of state students and draw young people from other cities.
With an average age of 34, Phoenix is the fifth-youngest metro region in the country with a diverse, well-educated labour force of over two million people.
Real estate in Phoenix
America Property Source only works with licensed property agents in Phoenix. The companies that we recommend to our clients have skilled managers who are experienced working with Australian investors. Our property manager’s work closely with investors to ensure each investment property is looked after to the highest standard.
- Ben Graham of the Geelong Cats in the AFL played in Super Bowl XLIII while playing for the Arizona Cardinals. He was the first Australian to play in a Super Bowl and the only athlete to play both an AFL Grand Final and NFL Super Bowl.
- Phoenix is located in the Sonoran Desert, which is one of the wettest and greenest deserts in North America.
- Greater Phoenix is home to over 200 golf courses.
- Phoenix is home to North America’s largest municipal park. The South Mountain Park and Preserve includes more than 150 kilometres of hiking, biking and equestrian trails across an area that covers 6680 hectares, or 16,500 acres.
- Arizona is home to 22 Native American Indian tribes.
The Australian property market is one of the most expensive in the world and house prices continue to rise. Some experts believe houses in Australia are grossly overvalued with excessive price tags, making it difficult to own your own home let alone invest. As a property investor you want value for money – you want your investment to work hard for you. Phoenix real estate is so much more affordable and a smarter choice for those wanting to start an investment portfolio
Many houses for sale in America, including Phoenix, are available below market value. Investors purchase real estate for up to hundreds of thousands of dollars less than the equivalent in Australia. There’s just no comparing the cost of buying property in the USA and Australia – they are not at all on par. For Australian investors looking at houses for sale in the USA, this is the opportunity to build a cash flow positive property portfolio.
If you’re looking for an Arizona property for sale, trust America Property Source to provide a service, from establishment in the USA real estate market through to the handover to your American property manager.
Our markets also include Cleveland, Ohio. If you’re considering buying real estate as an investment, you must consider property in the USA. Contact us for enquiries about our US property services.