Charleston, SC has seen tremendous growth in commercial real estate in recent years. According to a study conducted by Forbes magazine, Charleston’s commercial real estate is expected to show a remarkable 200% increase by the year 2009.
The success of commercial real estate in Charleston, South Carolina can be attributed to multiple factors. In recent years, Charleston’s economy has become one of the strongest and most diversified in the U.S. A booming economy has proven conducive to creating countless job opportunities, leading to a growing influx of people.
There is enough commercial reach in Charleston to accommodate the large number of people who are moving. This encourages new people to invest in real estate to meet the residential needs of people settling in Charleston. This interest has made commercial real estate in Charleston quite competitive compared to other real estate markets in the US. The construction of ambitious new development projects has further contributed to its growth as one of the major real estate hubs. commercial.
Despite undertaking development projects, Charleston has not lost sight of its brilliant past. A curious mix of old and new gives Charleston a distinctive charm of its own. This is further enhanced by the abundance of natural beauty seen in the lush sea islands and beaches. Commercial real estate developers have capitalized on this and have managed to sell many waterfront properties. The comparatively less developed and unexplored nature of these areas provides an opportunity for people moving there to build their own custom homes.
The presence of major educational institutions such as The College of Charleston and the Medical University of South Carolina also explains the growth of commercial real estate in Charleston South Carolina. The general growth and development potential paved the way for the commercial real estate boom in Charleston.
