Zillow Talk: The New Rules of Real Estate
, published this week by the CEO and chief economist at Zillow, analyzed the prices of homes within a quarter to a half mile around a Starbucks location for five years after the coffee shop opened.
The findings show that properties closest to Starbucks appreciated by 21 per cent, while properties a bit further away grew by only around 17 per cent.
In November, CREW reported on a similar study
, published in the Journal of Urban Economics, which found that homeowners have seen a rise in house price when a Walmart moves into the neighbourhood.
Starbucks, arguably one of the most widely-recognized retailer in the world, has more than 19,000 locations in 60 countries. It employs a team of 20 analytics and real estate experts who focus solely on finding the next Starbucks location, going over everything from traffic to other local businesses in a potential neighborhood.
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Investment Hot Spots:
Prince Edward, Calgary, Renton, Wellington, Boswarlos
It can be difficult to predict which housing market will appreciate in value, but apparently it pays to buy a property close to a Starbucks.