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.
Looking for the next hot Canadian neighbourhood to invest in? Visit the CREW website’s Investment Hot Spots tool for free comparisons of median house prices, capital growth and demographics.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Cathedral Bluffs, Grand Bank, Zehner, Little Harbour, Lower Selma
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.