THE INVESTMENT PROPERTY MARKET IN AUSTIN
Austin continues to be a great place to buy investment property. While the national market for investment property has seen dramatic changes, prices and revenues in Austin have remained strong throughout the downturn.
Austin is such a great place to live
the demand for lease properties continues to grow. In central Austin the foundation of the market are apartments and single family properties leased by professionals and UT students. Outlying locations present additional opportunities for those investors looking for properties that are attractive to professional and "blue collar" tenants.
UT Austin is one of the largest universities in the United States and with a strong local job market in software and the tech industries many of those students make Austin their home after graduation. When you consider the afforadbility, economic growth, culture and the environment enjoyed by Austinites it is no suprise that the city presents great opportunities for both seasoned and new property investors.
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WHY BUY INVESTMENT PROPERTY IN AUSTIN?
With the uncertainty of the stock market many investors are reconsidering real estate as a wealth builder.
Investment Property is a good hedge against inflation.
Price appreciation has been steady and the recent downturn only slight compared with the national average.
Texas is leading the US in the current economic recovery and Austin is one of healthiest cities in Texas. Unemployment rate (currently 7%)is lower than the US and Texas rates. The projected employment growth for 2010 is 2.5%.
Austin’s economy consists of a healthy mix of sustainable industries, such as technology, business services, education and government.
Some of the nation’s largest employers call Austin home including, AMD, Dell, Freescale, IBM, Intel, Samsung and Whole Foods
Population growth in the last ten years was over 40%, similar rate projected for next 10 years.
Real Estate investments are long term so keep your eye on a 5-10 year price appreciation horizon.