Salt Lake City Property Market and Real Estate Guide

(Salt Lake City, Utah - UT, USA)

Salt Lake City, founded by Mormons in the middle of the 19th century, is the capital and largest city in Utah, with a metropolitan population of over one million. Located in the northeast of Salt Lake Valley, with the massive Wasatch and Oquirrh mountain ranges on its borders, the city has hot, dry summers and cold, snowy winters. Its economy is based on its position as the USA's industrial banking center, its varied service industries and tourism.

Known as the 'Crossroads of the Country', Salt Lake City, set on the convergence of two major trans-America highways, has excellent national and international road, rail and air connections. Freeways connect the city districts and nearby Salt Lake City International Airport, and the mass transport system includes bus, light rail and commuter rail networks.


A wide choice of neighborhoods gives a wide choice of prices and types of property, from more expensive city areas such as Fort Douglas, Bonneville Boulevard and Federal Heights, to the cheaper areas to the west of downtown. Comparative property values split the city in half across a north-south line, with prices in the eastern sector higher than those in the historically working-class western districts.

Average property prices across the city compare favorably with similar cities in Europe, with the fall in prices bottoming out, more buyers emerging and the market stabilizing. For the investor, deals are still available on most asking prices. Varied property styles are on offer, together with attractive senior housing and retirement communities.

Renting Serviced Apartments

Affordable serviced apartments and suites in Salt Lake City are available, particularly in aparthotels, and are mostly situated in the downtown area close to the business district. Facilities are comprehensive and include fully-equipped kitchens, comfortable furnishings, high-speed Internet, voice mail and complimentary breakfasts. Prices are generally cheaper than comparable hotels.

Buying Apartments and Houses

Foreign purchase of property as a holiday home is allowed, with occupation of up to six months per year. If permanent residence is intended, a social security number and work permit or Green Card is necessary.

The services of a realtor and lawyer are essential. Once you have selected a property, the realtor takes care of all arrangements and negotiations. An 'intent to purchase' contract is drawn up and signed by both parties and a deposit is lodged. After title searches, checks for liens on the property and a home inspection are complete, the final contract is signed, the balance is paid and the property re-registered. Closing costs are between six and eight percent of the price paid.

Real Estate Agents

The large number of experienced professional real estate agents in Salt Lake City gives prospective purchasers a wide choice of homes in all locations.

Check out the following Salt Lake City estate agencies:

Turid Lipman
Address: 2735 East Parleys Way, Suite 203, Salt Lake City, Utah UT, 84109, USA
Tel: +1 801 428 2800
Email: via website
Website: www.turidlipman.com
Turid Lipman are among the top three percent of agents in the Prudential Group and have 20 years' experience in the area.

Salt Lake Real Estate
Address: 6965 Union Park Avenue, Suite 160, Midvale, Utah UT, 84047, USA
Tel: +1 801 910 7436
Email: via website
Website: www.saltlakerealestate.com
This agency has an attractive, informative website and a good selection of properties.

Kirkham and Friends Real Estate
Address: 1440S Foothill Drive Suite, Suite 250, Salt Lake City, Utah UT, 84108, USA
Tel: +1 801 272 7277
Email: info@kirkhamre.com
Website: www.kirkhamre.com
This agency boasts many years of experience in the area, and the website features a useful map search of properties.