The Benefits of Owning Luxury Real Estate in Greenville, SC

When it comes to luxury real estate, Greenville, SC offers some of the finest properties in the Southeast. From lakefront estates to mega mansions, the market has near-endless options for luxury. Here’s why it’s worth considering a real estate investment in the area.  

Live in one of the most dynamic cities in South Carolina

Nicknamed “The Golden Strip”, Greenville offers luxury living in an exciting and fast-paced environment. National Geographic Traveler named it one of the “30 Best Small Cities in the U.S.” in 2018 and gave its steakhouses and delis a special mention. With a population of 550,000 as of the 2022 census, Greenville is quickly becoming a destination for savvy buyers in search of the ultimate live-work-play lifestyle.

At the crossroads of the American Southeast

Located in the northwestern edge of South Carolina, Greenville lies about 20 miles west of I-85 and 13 miles from the Greenville-Spartanburg International Airport. The city is roughly midway between Atlanta and Charlotte. Its low tax rate, robust economy, and highly educated workforce has created demand for luxury real estate. Greenville, SC is home to several Fortune 500 companies, including GE, 3M, Honeywell, Lockheed, and Michelin North America. 

The business climate appeals to many entrepreneurs and upwardly mobile professionals. In fact, Forbes named it the 13th Best City for Young Adults in 2012 due to positive job growth and career opportunities. Once a hub for the textiles industry, Greenville has since diversified its economy with significant investments in logistics and manufacturing.

The city’s infrastructure has grown to accommodate the population and economy. Residents have access to some of the best healthcare institutions in the region, including AnMed Health Medical Center, Bon Secours St. Francis Health System, Greenville Health System, and Shriner’s Children’s Hospital. As for higher education, Furman University and Bob Jones University attract students and academics from all over the United States.

Grenville, SC real estate trends and home prices

Realtor ranked Greenville among the hottest housing markets for 2022 with an estimated 5.7% growth in home prices and 11.4% in sales volume year-over-year. Industry experts have cited fantastic weather and low income and property taxes as the main reasons for in-migration. Remote workers and retirees make up a large number of the city’s new residents. 

According to Roofstock, home values have increased by 23.0% this past year and by a staggering 72% over the last five years. The median sales price was $330,000 as of October 2022, according to Redfin data. The market has also been favorable for luxury real estate. Greenville, SC is home to affluent neighborhoods like the Mcbee Avenue Area, which was among the most expensive in the city with a median listing price of $925,000 in July 2022, according to Roofstock. 

Although single-family homes make up about 70% of the housing stock, buyers will also find a great selection of luxury apartments and townhomes in the city. Prevalent architectural styles in the luxury market include Tudor, French Normandy, Swiss Chalet, Creole, and Contemporary.  

The benefits of owning luxury real estate in Greenville, SC

Greenville has an understated elegance and vibrant lifestyle that appeals to the most discerning luxury buyers:

Shopping and dining

• Downtown Greenville is an authentic and pedestrian-friendly commercial district with over 115 retailers and art galleries as well as 110 restaurants, eateries, and cafes offering streetside dining. The downtown area stretches for over 10 blocks with green spaces, plazas, public art, and a vintage-style trolley. 
• Augusta Road is known for specialty stores selling home decor, fine garments, fresh cut flowers, and health and wellness products. 
• Haywood Mall is one of the largest malls in Upstate South Carolina with more than 150 specialty stores and five major retailers. The mall is anchored by Macy’s, Dillard’s, Sears, J.C. Penney, and Belk. 
• Haywood Road is lined with furniture and home improvement stores as well as luxury hotels like the Hilton, Hyatt Place, and Courtyard by Marriott.
• Magnolia Park offers 800,000 square feet of retail, dining, and family-friendly entertainment. The mall is home to the leading Regal Cinema in the Carolinas and the only Nordstrom’s in the state. Its dining options include casual dining restaurants that serve a wide selection of cuisines and comfort food.
• The Shops at Greenridge on Woodruff Road features major retailers like Ulta, Lowe’s, Ann Taylor Loft, Marshalls, PetSmart, Talbots, and Barnes & Noble. It also has casual dining options like Longhorn Steakhouse, P.F. Chang’s China Bistro, and Brixx Wood Fired Pizza.

Outdoor recreation

• Falls Park is home to local attractions like the Reedy River Falls and Liberty Bridge.
• Cleveland Park encompasses 122 scenic acres along the Reedy River. It features a fitness trail, volleyball court, softball field, play areas, and picnic shelters. Highlights include the Greenville Zoo, Rock Quarry Garden, Fernwood Nature Trail, and Vietnam Veterans Memorial.
• Legacy Park draws inspiration from New York City’s Central Park with gorgeous landscaping, undulating greens, and water features. At 20 acres, the park is located in a residential area and has pathways for walking, jogging, and cycling. 
• Holmes Park offers disc golf, tennis, and softball.
• Gower Park is a recreational facility with a nine-hole disc golf course, mile-long paved walking trail, horseshoe pit, playgrounds, picnic shelters, lighted softball fields, and basketball, tennis, and pickleball courts.
• Conestee Nature Preserve is a 400-acre preserve fronting the Reedy River. Located about six miles from Downtown Greenville, it is a popular spot for hiking and observing wildlife. 

Click here for a list of city parks in Greenville, SC.

Art and culture

• The West End Historic District is a national historic district with Victorian-style buildings that were built between the 1880s and 19320s. It is also the city’s arts and entertainment hub. Highlights include the West End Market and Falls Park. 
• The Peace Center stages Broadway classics and symphony orchestra concerts in its state-of-the-art theater, amphitheater, and concert hall.
• Greenville Theatre is the oldest and largest producing professional theater in the Upstate, staging plays, musicals, and concerts.
• The Warehouse Theatre is housed in a renovated cotton warehouse and is known for organizing the Upstate Shakespeare Festival.
• Carolina Ballet Theatre presents theatrical ballet performances of “The Nutcracker” and original works such as “Ghosts”.
• Greenville Chautauqua is a historical theater known for educational and interactive performances as well as the annual History Comes Alive Festival. 
• Artisphere is a three-day outdoor event held in May that brings in artists and art lovers from around the world, has received regional and national acclaim and gives residents a chance to meet artists face to face and shop for one-of-a-kind artwork.

• The Greenville County Museum of Art (GCMA) harbors the largest public collection of watercolors by American artist Andrew Wyeth in the world as well as a vast collection of paintings, prints, and pottery by contemporary artists and artisans.
• The Children’s Museum of the Upstate ps over 80,000 square feet in Downtown Greenville. It encourages play-based learning through immersive exhibits, fun activities, and weekly programs. 

Historic districts

Greenville’s historic districts are home to the city’s earliest landmarks and remarkably preserved Bungalow and Victorian-style architecture. A few of these districts are either listed or have been nominated to the National Register of Historic Places:

• West End Historic District
• East Park Avenue Historic District
• Colonel Elias Earle Historic District
• Hampton-Pinckney Historic District
• Heritage Historic District
• Pettigru Historic District
• Overbrook Historic District

Investment potential

Luxury real estate is a great addition to a diversified investment portfolio. Top-tier buyers typically acquire luxury properties for capital appreciation and the potential for rental income. Roofstock reports that rent prices in Greenville have increased by 20% year-over-year in 2022 while a Rent Café survey found that 51% of homes are occupied by renters. These figures point to a strong rental market that can benefit property investors. Luxury homes can be rented out on a long or short-term basis depending on the investor’s goals and preferences.

Aside from the potential for passive income, high net worth individuals also purchase second or third homes as a safety net from national economic and political uncertainty. It is best for investors who are willing to hold onto their investment property long-term so that they can ride out any volatility. Lastly, luxury real estate presents an opportunity to diversify outside of the stock market. An upscale home is a hard, tangible asset that also serves as a lifestyle upgrade. 

Vacation and retirement

In many ways, buying luxury real estate in Greenville, SC is a lifestyle investment. It provides a kind of pleasure and satisfaction that can’t be derived from stocks and bonds. A luxury property in Greenville can serve as a summer or winter getaway for many families. It’s perfect for entertaining guests from out of town as well as hosting weddings, birthdays, and other special occasions.

U.S. News & World Report also ranked Greenville the 40th Best Place to Retire in the country. Retirees enjoy significant tax breaks in South Carolina – the state does not require residents ages 65 and older to file a state income tax return. SC does not tax Social Security benefits either. The Homestead Exemption also exempts buyers over the age of 65 from taxes on the first $50,000 of their legal residence’s fair market value.

Towns and suburbs around Greenville, SC

Lake Keowee has over 300 miles of pristine shoreline and gorgeous coves. It is home to many gated communities with lakefront and lake access properties. Residents enjoy swimming, fishing, and boating in their own time.

Simpsonville offers a fine selection of estate-style properties and custom built homes. It has a laid-back suburban feel despite having big city amenities like the Charter Spectrum Amphitheatre, which has hosted musical acts like Willie Nelson and Mumford & Sons.

Travelers Rest is known for outdoor attractions like the Prisma Health System Swamp Rabbit Trail and nearby Paris Mountain State Park. Downtown Travelers Rest has a homespun charm with its collection of shops, cafes, breweries, and wine tasting rooms. Travelers Rest Farmers Market is the largest open air market in Greenville County with vendors selling fresh meat, baked goods, and seasonal fruits and vegetables.

Taylors is an unincorporated community that was once home to Chick Springs Resort, a popular summer destination from the late 1800s to the early 1910s, and the Southern Bleachery & Print Works, a historic factory that employed nearly a thousand at the height of Greenville’s textiles trade. Today, the community is known for specialty shops, markets, and art studios along Wade Hampton Boulevard and Taylors Mill.

Greer encompasses roughly 20 square miles in the foothills of the Blue Ridge Mountains. It is home to the South Carolina Ports Authority’s Inland Port, the BMW manufacturing plant, and the headquarters of Michelin North America and Mitsubishi Polyester.

Other towns and cities in the area include:

• Landrum
• Pickens
• Spartanburg
• Five Forks

If you need more information on neighborhoods and luxury real estate in Greenville, SC, get in touch with Ink Properties, LLC. 

Buy Greenville, SC luxury real estate with Ink Properties, LLC

With over 10 years of experience in real estate brokerage and development, Ink Properties, LLC is at the cutting edge of luxury. Contact the team at 864.777.9533 or   send them a message   to get started. The company helps high net-worth individuals find their dream home in a competitive market with certified relocation, resort, and second homes specialists as well as lawyers and smart homes certified professionals. 

They offer a 5-star package to buyers relocating from out of state. This includes a complimentary iPad and a personalized must-have list with rankings. The team will help clients find a suitable place to rent while searching for the right property. Ink Properties, LLC also provides the highest quality marketing and exposure for listings. From photos and videos to customized websites, the team helps sellers present and showcase their homes.