With recent global investments in Georgia, SHARE is excited to expand our portfolio to Savannah. Known for its historic charm, Southern hospitality, warm climate, and beautiful environment, Savannah is quickly emerging as a prime destination for real estate investors seeking long-term appreciation potential. With a unique blend of economic growth, cultural allure, and affordability, Savannah presents a compelling case for those looking to capitalize on the real estate market's opportunities.
At the forefront of Savannah's transformation lies the monumental investment by Hyundai Motor Group in its Metaplant America. This $7.59 billion dollar investment towards the development of a dedicated EV and battery plant in Savannah will position the Hyundai Motor Group as one of the top three EV providers in the U.S. Set to redefine the economic landscape of the region, the plant is expected to create over 8,500 jobs over the next few years. Employers in the supply chain for the Metaplant are expected to hire an additional 5,000 - 7,000 workers, plus invest an additional $1 billion in facilities.
In addition to boosting employment, this initiative is an investment for long-term economic prosperity that will ripple through Savannah and its neighboring areas. An additional $650 million is already planned for investment in road and highway improvements, water and sewer infrastructure, and other utilities.
“According to a recent Center for Automotive Research study, Hyundai's investments in Georgia are expected to create nearly 40,000 jobs and $4.6 billion in individual earnings yearly.”
But Savannah's allure for businesses is nothing new. The city boasts a diverse range of industries, including defense, aerospace, tourism, film, healthcare, and education, fostering a robust labor market with a low unemployment rate of just 3.3%. Major employers such as the Port of Savannah, Walmart, Target, and Gulfstream Aerospace Corporation, are just a few of the big players that contribute to Savannah's economic resilience and stability.
Adding to Savannah’s appeal is its exceptional healthcare infrastructure, with nationally recognized institutions like the Memorial University Medical Center and the St. Joseph’s Candler Hospital. Coupled with year-round sunshine, favorable tax conditions, and a low cost of living, Savannah is a magnet for residents of all ages.
Moreover, Savannah's affordability adds another layer of attractiveness for residents, businesses, and investors alike. From a financial perspective, Savannah offers investors a favorable landscape as housing prices in the city are approximately 24% lower than the national average, and Georgia’s property taxes average just 0.81% (about $800 less than the national average). Additionally, all other living costs are around 8% below the national average, fostering a high quality of life and offering a cost-effective entry point for real estate investors.
Looking ahead, the outlook for real estate investment in Savannah is promising. The convergence of major manufacturing investments, a diverse economy, and Savannah's intrinsic desirability as a residential hub sets the stage for significant property value appreciation and robust rental markets.
Whether you're after immediate cash flow or long-term capital growth, Savannah offers a compelling opportunity for real estate investors aiming to tap into the city's full potential. It embodies the perfect mix of economic prosperity, cultural richness, and affordability, positioning it as an ideal destination for real estate investment. With its historic charm and thriving economy, Savannah is poised to welcome investors keen on seizing its myriad opportunities and crafting their own success stories within the city's vibrant real estate market.