For years, New York City, London, Hong Kong, Vancouver, Miami and San Francisco have been the target cities for foreign investors, looking to park their assets in safe markets away from corrupt governments. Most of these investors are coming from China, Russia and South America and they are looking for expensive residential real estate. This inward movement of outside investment has caused home values in these markets to explode to the high side, driving up values to unbelievable levels as high as $3000. per square foot.
With values this high, where can these foreign investors go to diversify their investments in the world. One potential hot spot would be Houston, TX. Houston has a lot to offer: low prices in the hundreds of dollars per square foot, not thousands; a warm climate close to the Gulf of Mexico; no state income tax; one of the energy capitals of the world; one of the health care capitals of the world, lots of open space to expand and a wonderful entrepreneurial spirit that is a part of all Texans.
In Houston, foreign investors can feel confident that their assets will be safe and they will continue to appreciate over time. Houston is not the hottest or most volatile markets in the world, but it is a steady growth market that will increase most years and not drop as much during the slow years as the hottest markets do.
In targeting specific areas of Houston for future investment, inside Loop 610 is where a lot of action and growth is happening now. Close to downtown, this area has seen new builders constructing multiple level townhouses and new homes at a rapid pace. The Heights is another area close to downtown that is regentrifying quickly. New construction is everywhere. As you move out past Loop 610, areas like Bellaire, Meyerland, Garden Oaks, Memorial and Spring Valley are excellent neighborhoods for residential investing.
So Houston get ready. Foreign investors are headed your way. Welcome them with open arms and palatial properties. Let the growth continue.
Posted on June 2, 2015 at 5:06 pm by Mike Burns