Detroit regeneration good news for buy to let property investors

A pledge by US President Barack Obama to provide massive financial support for the regeneration of the State of Michigan’s biggest city, Detroit, should be of interest to property investors.

A growing number of investors, disenchanted by the performance of the ailing stock market, are putting their money into buy to let bricks in the US city as regeneration means more jobs and more demand for rental properties.

"They are attracted by discounts as high as 70% and net yields of up to 17%. With more than 9,000 working families already on the waiting list, demand is high," said Mike Coyle of international property investment specialist High Yield Bricks.

Source: Property Wire