If you’re looking for a good place to put some of your hard-earned dollars, Austin, Texas is booming with both residential and commercial real estate investment. Take a look at why Austin is filled with strong real estate investment opportunities and decide if it is the right place for you.
As the center of Texas politics, Austin’s economy has been growing at a steady rate. Major companies that have national and regional headquarters in Austin include Oracle, GM, Home Depot, Apple, Whole Foods, and many others. Both Google and Amazon have plans for future headquarters in Austin, as well. Due to these high profile employers, Austin’s unemployment rate remains low even in tough times.
Strong Support Services
Investing in real estate requires adequate services. You’ll find plenty of management companies for both commercial and residential properties, as well as security firms to ensure the safety of your buildings. A skilled commercial real estate attorney Austin is just a phone call away. He or she will ensure that you are in compliance with Austin city codes and have all the necessary insurance for an investment property.
Between 2017 and 2018 more than 50,000 people moved to Austin. That’s a lot of people needing homes, apartments, and places to do business. This population growth has meant that vacancy rates are low, both in Austin and in the surrounding suburbs. Due to its reputation as a great environment for tech, artists, and executives, this type of growth is expected to continue for the foreseeable future.
Variety of Properties
Whatever type of building you are considering, Austin probably has it. If you like to purchase large office buildings, the Central Business District of Austin is the place to visit. National companies rent space there, as does the U.S. Army. The demand is so high tenant brokers are encouraging clients to begin their search for space two years before they actually need it.
Mixed used space is also hot right now. The combination of apartment buildings, office space, restaurants, and retail is extremely popular in East and Northeast Austin. Many of these properties incorporate green space and hike/bike trails as well. Newcomers to the city love the convenience of mixed-use living and are driving the demand.
Something for Everyone
Austin is a famous city with something for everyone, and that includes investors. Crunch the numbers and you’ll find that it’s a great place for you, too.