There are many factors that have led to a favorable real estate investment climate in New Orleans. Among the most notable that affects lower cost real estate investments in New Orleans is blight reduction. The city had a huge blight problem even before Katrina. After the flooding, that problem exploded. But five years can bring a world of change. The City of New Orleans has embarked on a massive blight reduction plan that has already yielded significant results. USA Today reported in 2010 that the New Orleans strategy is working and should serve as an example for other blight-ridden cities where the blight problem is getting worse. (Full Article)
All of this is relevant information for investors considering where to purchase residential real estate in the United States. In New Orleans, there are hundreds of homes that are for sale at rock-bottom prices in areas where blight reduction is occurring. Long-term appreciation for these areas is potentially better than in cities and areas that are in decline and/or where widespread rebuilding and growth are not occurring.
New Orleans is a unique city in every way. Real Estate is no exception. We have bucked the national trends by NOT having false bubbles in prices nor drastic price reductions. If you would like statistics on real estate trends in specific areas of Greater New Orleans — or properties currently for sale — just contact us.
* Note — Some information offered on this website is opinion and should not be construed as specific investment advice. We encourage buyers to do their own research into the viability of real estate investments in New Orleans.