Austin Real Estate: Great For Investors?
With beautiful scenery, a booming business climate, a comparatively low cost of living, and more, Austin is certainly a great place to live, and recently, the world has taken notice. Numerous media outlets have included Austin in their various top 10 lists.
Whether it’s the top 10 U.S. cities to live in, top 10 BBQ cities, top cities for new graduates, best cities for small businesses, or best cities for jobs, Austin has ranked high among the finest cities in the United States. Additionally, Austin has attracted many transplants and Fortune 500 businesses.
As a booming tech town, Austin has also attracted some of the largest corporations. Recently, Apple has announced plans to expand its campus in Austin, as has Samsung. Facebook has also opened an office in Austin, bringing new jobs and talent to the Capital City.
All these factors, combined with Austin’s other strengths, paint a picture of current and near-future economic development and growth. These trends could create excellent real estate investment opportunities and returns. Read on for more information about the current Austin real estate trends and why now may be a great time to consider Austin properties.
The Austin Home Market in 2012
Thus far in 2012, Austin’s real estate market has been very strong. Sales are outpacing those experienced in 2011, and current inventory is down 23% compared to last year. These data points indicate that the Austin real estate market is hot, and competition to buy is becoming fiercer.
Another interesting metric for investors is the high rental occupancy rate. As recently as February, rental occupancy rates were up to 95% or more. The effects of this high occupancy rate could lead to increased rental rates and a trend in multifamily and single-family home renting. Additionally, these data points are expected to continue trending positively.
Who’s Buying Austin Real Estate?
Another trend currently affecting the Austin real estate investment market is the increasing number of foreign real estate investors purchasing in Austin. Recently, Austin was on the list of top U.S. cities favored by foreign real estate investors—up from last year.
To this point, numerous foreign investors have purchased properties in downtown Austin and in developing regions of the city. A significant portion of these purchases includes luxury condominiums and multifamily properties. With this increased competition from foreign investors and new residents, Austin is becoming a very competitive market to buy in. However, great values are still available to savvy investors.
The Future of Investing in Austin Houses
Although it is impossible to predict the future of the Austin real estate market, the current trends are promising. Population growth, business development, and a comparatively low cost of living add up to a favorable climate for real estate growth. However, with strong competition and rising prices, finding a deal is becoming more challenging.
Yet, there are significant opportunities for real estate investors who consider wholesale real estate investing opportunities and fixer-upper homes for sale. These options provide investors with great value, which could directly impact future returns.
For more information about wholesale real estate investing and fixer-upper homes for sale in Austin, visit the I Buy Austin Houses website. Through I Buy Austin Houses’ unique business positioning and experience, we have gained access to high-potential wholesale and fixer-upper properties. I Buy Austin Houses has years of experience in this booming market and can help you find high-potential properties.
