Netflix star of 'Owning Manhattan' opens Atlanta office as Georgia real estate heats up

Georgia is a hot property market today for property buyers.

SERHANT CEO and star of the Netflix series, ‘Owning Manhattan,’ Ryan Serhant informed FOX Company in an interview that his property brokerage has “great deal of customers that remain in Georgia” that are “either transferring to Georgia or their business are transferring to Georgia or they desire a secondary home in Atlanta or Savannah”– which was a significant factor SERHANT got in the Peach State’s property market in 2015.

His New York-headquartered property business revealed the launch of SERHANT Georgia in February of in 2015 beginning with Savannah. More just recently, in November, SERHANT started a business in Atlanta.

The state’s lively economy was an aspect too, with Serhant stating lots of Fortune 500 business have “some type of operations” in the capital city.

” In Savannah, you have considerable quantities of tasks being developed today,” he likewise informed FOX Company, highlighting Hyundai’s previous multi-billion-dollar financial investment to establish its Hyundai Motor Group Metaplant America near Savannah. That plant is expected to hold its “grand opening” event later on today.

On Monday, the car manufacturer revealed strategies to enhance Kia Autoland Georgia and other American production centers as part of a brand-new enormous financial investment in the U.S.

IS THE United States REAL ESTATE MARKET BECOMING A BUYER-FRIENDLY MARKET?

In 2024, Georgia’s economy published 3.1% development, according to the University of Georgia Selig Center for Economic Development. The variety of tasks in the state increased by 60,400 throughout the year, the Georgia Department of Labor stated in January.

Throughout in 2015, Georgia notched over 121,500 closed sales of homes and almost 121,900 pending sales, figures that represented 0.3% and 0.5% boosts from the previous year, per the Georgia Association of Realtors.

The mean list prices of homes in the Peach State published a 2.9% boost year-over-year.

There is need in the Georgia property market in city and suburbs, according to Serhant.

” It’s a bit of both, which is fascinating since normally you have truly strong need for land while the city market tends to decrease,” he stated.

” We’re seeing type of like a 50-50 split, and I believe that’s likewise in part due to type of the time of the years that we remain in today,” he continued. “It’s 2025, we’re coming off of any kind of COVID real estate buzz, therefore you have individuals who vacated the city locations who are stating, ‘You understand what, it’s time to return. I miss out on the gain access to, I miss out on the concrete, I miss out on the dining establishments.’ And after that you likewise have individuals who have actually had an excellent living, they have actually now settled, they have actually married, they’re having kids, and they desire more area.”

For Atlanta particularly, the show business present in Atlanta has actually likewise assisted drive interest in the city’s property market on top of the economy and task market, according to Serhant.

” Altanta is likewise Hollywood of the East, with the quantity of performers you have, the music scene, you have the studio scene, with the quantity of work and tasks that individuals like Tyler Perry have actually given the market,” he stated. “There is a type of truly, truly growing Hollywood in the state of Georgia, in Atlanta particularly, that is a better tax state than the state of California, that has extraordinary security … therefore you see that, which we have not seen, you understand, ten years earlier.”

Georgia saw an approximated $2.6 billion in costs from movie and tv manufacturers in 2024, according to the state’s movie workplace. Consisting of 2024 and the previous years, some $11 billion from the market has actually gathered.

Serhant stated that it’s “truly the task market combined with [interest] rates,” keeping in mind Atlanta “has an extraordinary tasks market” that “does not appear like it’s going to be decreasing anytime quickly.”

WHY THIS RESORT LOCATION IN FLORIDA IS BECOMING MORE POPULAR FOR PROPERTY BUYERS

The city experienced a 4.9% boost in pending home sales throughout 2024. For closed sales, it had a dive of 3.4% for the year, Georgia Association of Realtors revealed.

While in lots of markets individuals have actually been keeping back to see whether rate of interest will drop, Serhant stated “we’re not always seeing that” in Atlanta.

” We’re seeing still a truly, truly healthy chance,” he stated.

While Serhant likewise stated he was “not a market prognosticator” himself, he informed FOX Company he believes a “approximately significantly” boost in the Georgia property market “over our closest rivals” might be in shop over the next 5 years.

” It’s difficult to truly think and see where we’re going to be from 2030 to 2035, however if the task development holds, and if that’s combined with a lowering of rates … that the property market will blow up type of upon the scene throughout the state of Georgia,” he stated.

Recently, the Federal Free market Committee anticipated 2 25-basis-point rate of interest cuts this year, followed by 2 cuts of that size in 2026 and one in 2027.

CHATTANOOGA REAL ESTATE MARKET WARMS UP IN TENNESSEE

In February, the most-recent month with readily available information, Georgia saw almost 8,200 closed homes sales and over 9,300 pending, according to the Georgia Association of Realtors. Prices balanced $430,171 last month.

The Selig Center for Economic Development forecasted Georgia’s population will “grow at a yearly rate that is double the nationwide average” in 2025. Its inflation-adjusted gdp will increase by 2.4% this year, it likewise anticipated.

By 2050, the Atlanta area is poised to see its population increase by 1.8 million, the Atlanta Regional Commission individually approximated.