This area is an easy sell. Austin’s a young, vibrant city at the heart of a dynamic region recognized for its talented workforce and superior business environment. Forbes Magazine confirms what businesses already know-that Austin is the Number One place to do business and advance your career. Austin’s well-educated workforce, overall low business costs and available, affordable commercial space offer unparalleled opportunity for business growth.
Austin is considered one of the “Cities of Ideas.” High tech knowledge-based industry leaders in areas like semiconductors, software, internet, biotech, wireless, and nanotechnology make their home here. As these industries continue to grow, they will seek to locate in cities with a mixture of high quality of life (including an excellent climate, parks, natural beauty, and a strong cultural base), relatively low cost of living, and with a strong base of highly educated employees – all strong characteristics of the Austin and central Texas areas. Austin also boasts the title of the “Live Music Capital of the World” and is rich in culture and art.
Texas, with its business friendly environment and lack of a state income tax, is increasingly considered one of the leading states in the country to start or relocate a business. With all of this projected growth (doubling of population by 2025), new residents are going to need housing. This will serve the dual purpose of increasing rental income for investment property owners as well as increasing the equity value of their investments.
Because Austin invests heavily in smart growth initiatives, meaning developers concentrate heavily on infill development – a positive thing for property investors, because suburban sprawl is de-emphasized, and inner city real estate investments appreciates on a more similar pattern to geographically supply constrained areas such as Los Angeles, San Diego, New York City, San Francisco, and Boston. There are simply no other markets offering the relatively entry cost of Austin along with a market that so many experts feel is poised for tremendous growth in the coming years. Forward-thinking investors that jump on board now are likely to reap substantial benefits in the future.