Austin Real estate to remain strong in ‘07
This article is about commercial real estate, but good news for commercial real estate is good news for residential real estate as well.
From the Austin Business Journal
Friday Dec 29, 2006
A new report from a national real estate services firm is telling investors what many of them already know–Austin’s a good bet in 2007.
The capital city’s retail sector placed third in Integra Realty Resources’ annual IRR-Viewpoint, which ranks U.S. markets with the greatest commercial real estate potential in the coming year. The report looks at the four main commercial property sectors: office, retail, industrial and multifamily. Austin’s office and multifamily markets ranked fifth in their respective classes.
The booming city of Las Vegas ranked No. 1 in the office, retail and multifamily categories with Miami taking the lead in the industrial sector. Among other Texas cities, Fort Worth ranked No. 2 in the office category while Houston placed fourth in industrial.
Integra determined the rankings through a national survey and research that looked for markets with positive growth patterns, strong current conditions and enough absorption to accommodate current vacancy and planned projects.